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Alabama League successfully lobbies against back door tax

BIRMINGHAM, Ala. - The Alabama Credit Union League's lobbying efforts to prevent a transfer of $500,000 from the Alabama Credit Union Administration, the state's credit union regulator, to the state's general fund budget were a success. Meetings the league had with House and Senate leadership and with the governor and...

By Staff Writer | Updated on April 23, 2002

<p>BIRMINGHAM, Ala. – The Alabama Credit Union League’s lobbying efforts to prevent a transfer of $500,000 from the Alabama Credit Union Administration, the state’s credit union regulator, to the state’s general fund budget were a success. Meetings the league had with House and Senate leadership and with the governor and his staff prevented passage of the original proposal which called for transfers from the funds from ACUA, the Banking Department, and the Insurance Department, to beef up the state’s general fund budget. The league said the transfer language was not in the original bill. There was discussion about the language on the state Senate floor, but the league said no attempt was made to reinsert the transfer. League President Gary Wolter said the ACUA’s entire budget comes from fees assessed to state-chartered credit unions, so the transfer would have amouned to a tax on state-chartered credit unions.</p>

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