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Texas Senate and House Vote to Return TCUD Sunset Review to 2021
Tuesday, May 19, 2015 6:50 AM

The Texas Senate voted 31-0 to pass HB 3123 by Rep. Four Price (R-Amarillo) and Sen. Jane Nelson (R-Flower Mound), which returns the Texas Credit Union Department’s Sunset review date to 2021.

HB 3123, as originally filed, would have moved the date to 2019. A House floor amendment was offered that would have moved the date to 2017. It was defeated 135-1 after a strong grassroots effort by credit unions. Rep. Dan Flynn (R-Van) and Rep. Nicole Collier (D-Fort Worth) mounted a vigorous defense of credit unions during the floor debate, opposing moving the Sunset date up to 2017.

Moving the Sunset date changes the law authorizing the TCUD to exist and would have required the Legislature in 2017 to pass a bill extending the agency's authority to operate or possibly move the regulation of credit unions to the Finance Commission or even to an agency within the Finance Commission, such as the Banking Department. Also, the Sunset process would have cost credit unions approximately $100,000 for the Sunset Commission to conduct a review after only six years rather than the usual twelve years.

The next day, Rep. Flynn offered a subsequent amendment which changed the date back to 2021 from the change to 2019, which was in the bill originally. Rep. Four Price (R-Amarillo) the author of the bill, accepted Rep. Flynn's amendment and the House passed HB 3123 by a vote of 137-0.

The bill now returns to the House to concur with the Senate amendments or go to a conference committee.

Contact Jeff Huffman, president, Texas Credit Union Association, at 469-385-6488 or for more information.