Texas Tax Bill Protects CUs

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AUSTIN, Texas - (05/13/05) -- The state Senate this week approvedits own version of a business tax reform, and, like the versionpassed last month by the House, retains the tax exemption forcredit unions. Though the passage of both bills without a creditunion tax is good news for the state 225 state charters, the billis expected to change when leaders from the Senate and House meetin a conference committee to iron out differences between the twovery different versions, according to Buddy Gill, chief lobbyistfor the Texas CU League. "As far as we're concerned, we're good,"Gill cautiously told The Credit Union Journal of the finalprospects for the bill.

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