Greetings from the State’s Capital!
The 2012 Short Session Legislative Wrap-Up (password protected) was circulated earlier this week to the readers of the Update from the State’s Capital newsletter authored by Lauren Whaley, the League’s director of legislative & regulatory affairs. Each week while the General Assembly is in Session, the Update from the State’s Capital is distributed to keep credit unions up-to-speed on the happenings at the General Assembly and on legislation impacting credit unions.
The 2012 Short Session came to a close more than a month ago on July 3, 2012. In just 28 working-days at the General Assembly the Republican controlled legislature passed 209 bills. As it relates to credit unions, notable legislation from the Short Session is discussed in greater detail in the Legislative Wrap-Up, which can serve as a resource for your credit union’s compliance and operations staff. Many of the new laws and changes to existing law take effect on October 1, 2012. Lawmakers will return to Raleigh on January 30, 2013.
Soon after the gavel fell on Jones Street, various committees, task forces and commissions began their duties in preparation for the next Legislative Session. The League will be monitoring the development of legislation or regulations from several groups including the new Mining and Energy Commission, the Task Force on Fraud Against Older Adults, the Revenue Laws Committee and the Legislative Research Commission. Additionally, as the 2013 Long Session gets underway, the League will have to contend with the tax modernization plans, a continued push to allow for predatory loans, further developments on lender and property owner rights for fracking as well as any priorities from credit unions. Lauren Whaley will be working with credit unions over the next few months to address any issues within the state laws. If your credit unions has questions or concerns relating to gaps in the law or provisions that may limit your credit union's ability to serve your members, please contact Lauren Whaley.
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