MERIDEN, Conn. (3/20/14)--The Credit Union League of Connecticut got what it was working toward, as a bill that would deliver sales and use tax exemptions to the state's credit unions moved closer to ratification this week.
With a 13-4 vote, the state's Banks Committee voted out HB 5470. It was referred to the Finance, Revenue and Bonding Committee for its approval, the exact result the league was hoping for in order to streamline the bill's journey through the Legislature, according to a league press release.
Connecticut league leaders have been at the forefront of the effort to drive this bill forward, but they also commend the support that's come from individual credit union leaders statewide.
The calls and emails from credit union advocates to state legislators on the committee, in addition to the support shown by the credit union CEOs who testified at the Bank Committee hearing, made an impact, the league emphasized.
League leadership will continue to ask for support over the next week in contacting legislators on the Finance, Revenue and Bonding Committee as the bill heads in their direction.