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Lauren Whaley, NCCUL Director of Legislative & Regulatory Affairs |
Greetings from the Capital! As the NC Credit Union League’s Director of Legislative and Regulatory Affairs, I am responsible for monitoring daily activity in the NC General Assembly as well as analyzing regulatory issues that impact NC credit unions. During the state’s legislative session, a weekly email is distributed that reports on the highlights of the past week at the Legislature and provides important updates regarding bills significant to NC credit unions. These weekly emails are also provided below, along with the Legislative Tracking Sheet and a full summary of legislation from the 2009 session that has been signed into law.
Please note that this content is for affiliated NC credit unions only and is password protected. If you do not have a user account and would like to get one, please contact Jeff Hardin at (800) 822-8859, ext. 3225.
If you ever have questions on NC legislation or would like to sign up for the weekly emails, please don’t hesitate to call. You may reach me at (800) 822-8859, ext. 3205 or lwhaley@ncleague.org.
2009 NC Credit Union League Legislative Summary
The NC General Assembly officially adjourned its 2009 legislative session on Tuesday August 10 and will reconvene May 12, 2010 for the short session. A total of 2,767 bills were introduced and 578 bills and 33 joint resolutions were passed during the seven months lawmakers convened.
Note: password protected content
Weekly Legislative Round-ups (Registered web site users only.)
With such a taxing session of the North Carolina General Assembly (pun intended), I’m pleased to say that things are winding to a close.
The highly anticipated budget was officially released late last night.
With 34 long days of negotiations behind us, key legislators have finally reached an agreement on the $19 million dollar budget.
What seemed like a light at the end of the tunnel has quickly faded and a solution to the budget deficit remains unknown.
It appears that the final weeks of the 2009 North Carolina General Assembly session are coming to a close. However, the biggest challenge of passing the state’s budget remains.
Working through the weekend may have paid off as it appears House and Senate leaders have tentatively agreed on the revenue portion of the state’s budget which calls for $990 million in new taxes.
With the July 4 weekend behind us, Democratic leaders in the House and Senate will resume their closed-door battle of which tax proposal to include in the budget. The grand finale of fireworks is just beginning!
The new fiscal year begins on Wednesday, and House and Senate Conferees have acknowledged that the deadline to approve the state’s budget will not be met.
The race (or better yet, scramble) to pass a budget before the end of the fiscal year is in high gear. The unpredictability of the current budget crisis and uncertainty of reaching a compromise between the General Assembly and Governor Beverly Perdue is only fueling the chaos.
The debate on the House budget shifted this week from discussions centered on drastic cuts, to a balancing act of spending reductions and higher taxes. The result was the addition of an amendment detailing significant tax increases.
With the now $4.6 billion shortfall facing the state, the budget situation is becoming dire and spending reductions are mounting. As mentioned in last week’s update, we have been closely monitoring a proposal from the House Appropriations Subcommittee on Natural and Economic Resources (NER) that would transfer independently funded agency budgets to the general fund. Included in the move is the Credit Union Division.
State leaders are now dealing with the deep budget gap (projected at more than $4 billion) facing the state for the upcoming fiscal year that begins July 1. This budget shortfall is more than 20% of the current state’s budget and, unlike the federal government, North Carolina’s budget must balance.
With crossover behind us, we will all breath a little easier this week. Several hundred bills (unrelated to spending or taxes) were passed through the House or Senate last week to meet the dreaded crossover deadline.
Greetings from the Capital! My name is Lauren Whaley and as the NC Credit Union League’s new Director of Legislative and Regulatory Affairs, I will be responsible for monitoring daily activity in the NC General Assembly as well as analyzing regulatory issues that impact NC Credit Unions.
NCCUL Legislative Tracking Sheet (Registered web site users only.)
Your guide to bills of interest to credit unions in the NC General Assembly.
Other Links and Resources of Interest
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