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Texas Senate Finance Committee Hears SDSI Bill
Wednesday, April 12, 2017 6:50 AM

The Senate Finance Committee heard SB 1875 by Sen. Chuy Hinojosa (D-McAllen), which sets out a more clearly defined process for an agency to obtain self-directed and semi-independent (SDSI) status. SDSI agencies are funded by their industry, not supported by taxpayer funds, and are exempt from the general appropriations process. Eight agencies, including the Credit Union Department, have SDSI status. Currently, there are no guidelines or application processes in place to determine whether an agency qualifies for SDSI status.

In addition, SB 1875 establishes a plan for improved monitoring of the agencies and improved reporting by those agencies to the legislature, and authorizes the Sunset Commission to recommend revocation of SDSI status to the legislature. The bill leaves the TCUD SDSI authority in place in the Finance Code, which was an issue last session in a similar bill that died.

The bill was left pending.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.