Quixotic CU Tax Bill Dies a Quick Death New York

Published June 11, 2007, 1:00 a.m. EDT

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Updated August 27, 2020, 1:50 a.m. EDT

1 Min Read

ALBANY, N.Y. - A long-shot attempt to tax federally chartered credit unions in New York died a quick death-just two weeks after it was introduced. The bill was withdrawn by its sponsor, Sen. Thomas Morahan. The bill was a long-shot because state legislatures can only tax state-chartered credit union and are not authorized to tax federal credit unions-only Congress can do that.

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