WASHINGTON-NCUA made some gains and losses in the appropriations legislation recently approved by Congress. The Senate recently passed the omnibus spending bill and the House was expected to pass the same bill last Wednesday (the House already passed a very similar bill but a technicality led to a second review, NAFCU Director of Legislative and Political Affairs Brad Thaler said). According to Thaler, a provision to permit the chairmen of the House and Senate Appropriations Committees to review individual tax returns was slipped into the bill and caught by a staffer after the bill passed the House. The House was expected to pass the bill without the troublesome provision by unanimous consent, which would not require the members to be present unless they wanted to object. Thaler said a number of people are questioning why the provision was ever in the bill. The Consolidated Appropriations Act FY 2005 included a $1.5 billion borrowing cap for NCUA's Central Liquidity Facility and $1 million for the Community Development Revolving Loan Fund. While the $1 million appropriation is lower than fiscal year 2004′s $1.2 million, NCUA was given an extra nine months to disburse the technical assistance grants. The $1 million is divided up into $200,000 for loans and $800,000 for grants. "I am pleased with the passage of the omnibus bill, as the funds will continue to greatly benefit America's low-income designated credit unions," NCUA Chairman JoAnn Johnson said. "The approval of $1 million for the Community Development Revolving Loan Fund (CDRLF) for grants and loans will enhance our ability to provide more resources for low-income designated credit unions. Additionally, the congressional appropriation stipulates that the funds may be expended through September 30, 2006. This will allow NCUA to enhance our TAG grant initiatives to include service to the underserved, increase homeownership, financial education, and modernize technology for credit unions." Additionally, NCUA Director of Congressional and Governmental Affairs Cliff Northup pointed out that the bill includes the provision to keep the Federal Trade Commission working on regulations for disclosure requirements regarding privately insured credit unions. He and Thaler said they were not sure when the FTC plans on issuing a proposed rule and the commission has not let on. Northup and Thaler said they did not know when the omnibus bill was expected to be signed into law, but Thaler pointed out that a continuing resolution to keep the government funded programs expires Dec. 3, so it would likely be before then. Also in the lame duck period, Congress has been working on the so-called 9-11 bill to enhance intelligence. The bill includes a provision that would require financial institution examiners, including those for credit unions, to wait one year before going to work for an institution they supervised for at least two of the last 12 months the examiner worked for the agency, according to Northup. He added that NCUA is not thrilled about the provision but was unable to defeat it. According to the National Journal, the House is ready to come back Dec. 6 and the Senate Dec. 7 if language is agreed to on the 9-11 bill. Otherwise, the Senate is not expected to return and the House will be in pro forma session that day to draw the curtain on the legislative year. Meanwhile, the House and Senate are basically in recess, but have not adjourned `sine die' and are still subject to the call of the chair. That means they can be called back at anytime by the speaker of the House or majority leader of the Senate, Thaler explained. -

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