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LCUL 2015 Legislative Session Watchlist

House Bill 624 (Stock Transfer Taxation)

Potential CU Impact: Amendments adopted by the House Ways and Means Committee targeted exemption from state taxation on its stock transfers and reduced it from 100% to 80%.

Current Status: Sent to the governor for executive approval

Action Needed: None at this time; we were able to remove credit union language

Senate Bill 172 (Uber/Lyft Bill)

Potential CU Impact: Credit union collateral may be under- or improperly insured if members use their personal vehicles to provide taxi service through on-line providers such as Uber or Lyft.

Current Status: Sent to the governor for executive approval

Action Needed: If a credit union has a security interest in a vehicle employed, CU's should assure that the owner of the vehicle has appropriate insurance to cover the various phases of a ride sharing trip.

Senate Bill 265 (Immovable Property)

Current Status: Was referred to committee on ways and means and did not make it back to the floor

Action Needed: None at this time due to no movement out of committee

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