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House approves sweeping credit-union measure after hours of debate; amendments on revenue neutrality rejected
Summary
After extended floor debate and multiple substitute amendments, the House approved the tenth substitute of House Bill 162 addressing credit-union regulation and potential corporate franchise taxation; the measure passed 43–32 and proceeds to the Senate.
The Utah House passed the tenth substitute of House Bill 162 on a 43–32 vote after extended debate over whether the measure would impose a new corporate-franchise tax on certain credit unions, how smaller credit unions should be treated, and whether proposed changes should be revenue neutral.
Representative Jason Alexander (floor sponsor) urged passage to establish regulatory distinctions and to prepare for a task force he said would study smaller credit unions’ access and…
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