Five MCUA Supported Bills Sent to Governor Nixon
The 2014 legislative session officially ended when the final gavel fell at 6 p.m. on May 16. Missouri state lawmakers filed approximately 1,900 bills during the legislative session. About ten percent of the bills were "Truly Agreed and Finally Passed," which means the bills passed both the Senate and House chambers and are now waiting for Governor Jay Nixon (D) to take action. Out of the 190 bills passed, all five bills supported by the Missouri Credit Union Association (MCUA) passed and are waiting for the governor's signature.
Below is a brief overview of MCUA supported legislation sent to Governor Nixon.
- SB 706 – Prohibits bad faith assertions of patent infringement (patent trolling) and also provides restitution for businesses, including credit unions, which have been affected by patent trolls. Also allows the Attorney General to investigate, restrain, and prosecute bad faith assertions of patent infringement claims.
- HB 1217 – With this bill, Missouri will become the first state to ban pension advances targeting public employees. A consumer protection bill, it specifies a person’s public employment retirement benefit cannot be transferred or assigned to, for example, a pension advance company.
- HB 1218 – Protects a credit union’s lien priority over a condo association’s special assessment. The condo association, however, will have limited lien priority only to the extent of the unpaid common assessments for the six months preceding the foreclosure sale.
- HB 1270 – Protects small businesses by preventing ‘fly-by-night’ credit card processing companies from entering into a deceptive and exploitative contract with a merchant.
- HB 1999 – Allows the Department of Revenue to adopt rules and regulations allowing a lienholder who files a lien electronically on a motor vehicle or trailer to electronically release the lien. This system will not be available until after 2015.
Governor Nixon has until July 14 to either sign or veto legislation passed this session. The Governor may also allow bills to take effect without his signature by neither signing nor vetoing by the July 14 deadline. The effective date of all legislation is August 28, 2014. If the bill contains an emergency clause, it takes effect upon the Governor's signature.
MCUA will provide a full recap of the 2014 legislative session in next week's Missouri Difference.
Photo: Missouri House members throw papers in the air to celebrate the end of session.
Photo credit: Jo Mannies, St. Louis Public Radio