Capitol Report - Electronic Lien Release Bill Passes Hurdle
A bill allowing lienholders, including credit unions, to electronically release a lien on a motor vehicle or trailer passed one more hurdle this week. HB 1999, sponsored by Rep. Tony Dugger (R-District 141) (pictured), was voted out of the Senate Transportation and Infrastructure Committee on Thursday morning. David Kent, director of state legislative affairs for Missouri Credit Union Association, was on hand Wednesday morning to testify in support of the legislation.
HB 1999 now needs to be set on the Senate calendar for floor debate. If voted out by the Senate it will be sent to the Governor’s desk to sign, veto or allow to become law. It previously passed the House by a vote of 148-2.
Other Bills of Interest
Only two weeks of the 2014 legislative session remain. Here is a brief overview of other bills MCUA is monitoring and where they stand in the legislative process.
- HB 1217 - a consumer protection bill, HB 1217 prohibits a person's public employment retirement benefit from being transferred to a pension advance company. The bill passed the House 149-3 and is set on the Senate calendar for floor debate.
- HB 1218 - protects a mortgage holder's lien priority over a condominium association's special assessment. The bill was Truly Agreed To and Finally Passed and now heads to the Governor's desk to sign, veto or allow to become law.
- HB 1374 - prohibits bad faith assertion of patent infringement (also referred to as the patent troll bill). This bill passed the House 142-3 and is waiting to be set on the Senate calendar for floor debate. It's companion bill, SB 706, passed the Senate 32-0 and is set on the House calendar to be heard.
Click here for a full list of bills that could potentially impact credit unions. MCUA continues to track and monitor a number of bills – whether moving or not – and watch for amendments to bills. This list is updated regularly.
General Assembly Update
With session winding down the Missouri General Assembly spent the majority of their time this week on priority pieces of legislation. Bills debated this week included the transportation sales tax increase, school student transfer legislation and the Senate passing the state's operating budget. The House sent the budget bills to conference late Wednesday night. The House and Senate will begin conference early next week to negotiate the final budget bills. The budget must be passed by May 9, a week in advance of the close of session.
Also making news late Thursday afternoon, Governor Jay Nixon (D) (pictured) vetoed a tax cut bill, SB 509. Click here to read the Governor's statement. It's expected the House and Senate will attempt to override the veto early next week.
MCUA Advocacy Featured in CUNA News Now
MCUA’s support of the so called ‘patent troll’ bills was featured recently by the Credit Union National Association. Read the full article here.
HB 1374 and SB 706 provide protection to small businesses, including credit unions, from patent trolls. Patent trolls profit by sending threatening letters to businesses demanding payment for frivolous patent infringement claims. MCUA Advocacy testified in support of both bills during their committees. HB 1374 is sponsored by Rep. Stan Cox (R-District 52). SB 706 is sponsored by Senator Mike Cunningham (R-District 33).
Financial “Tip of the Week” – 6 Creative Ways to Spend Your Tax Return
During the 2014 legislative session, MCUA provides lawmakers with a financial “Tip of the Week” to share with constituents. This week, MCUA provided tips on how to spend your tax return. Credit unions are welcome to share these tips with members. Read the full tip here.
If you have any specific examples to share with legislators on this topic, please contact Amy McLard or David Kent and we will be happy to help you get that information in to the hands of the right lawmakers. MCUA Advocacy also welcomes suggestions for timely financial education/news topics with a consumer focus to share with lawmakers.
May Events Calendar
- 05 - Fraker, Houghton, Hurst Reception – Gumbo Bottoms – 6:30-8 p.m./adjournement
- 05 - Michael Frame Cinco de Mayo Reception – 223 Madison – 1:30-3:30 p.m.*
- 09 - Appropriation bills must be TAFP by 6 p.m.
- 16 - Session adjourns at 6 p.m.
- 30 Genise Montecillo Golf – Crescent Farms Golf Course – Eureka – lunch/reg. at noon, 1 tee-off