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When the first regular session of the 129th Legislature adjourned last June, it was the first to adjourn on time in several years. At the time of adjournment, a historic number of bills were left on the table for consideration, which will make for a busy 2020.
The second regular session will convene on January 8 and is scheduled to adjourn in mid-April. By design, the second session, or “short session,” is used to consider carryover bills and emergency measures that cannot wait until the swearing in of the 130th Legislature next December. Because of the substantial number of pending bills, legislators and your League will be very engaged in the weeks ahead.
Among the carryover bills are several proposals that will directly impact credit unions. In the Judiciary Committee, legislators will address the amount of time lenders have to collect on debt before it is considered forgiven. Another significant proposal aims to establish Commercial Property Assessed Clean Energy (C-PACE) financing. As drafted, C-PACE lenders would assume priority lien position on loans, pushing mortgage holders into a risky secondary position.
The League encourages credit union CEOs, staff, and members to be actively engaged in our advocacy efforts. To stay involved, subscribe to our weekly email update by contacting Ellen Parent, League Regulatory & Legislative Advocacy Coordinator, at eparent@mainecul.org, or by participating in Governmental Affairs events. The League has resumed its Job Shadow program, which brings credit union advocates to the State House to spend the day with their legislator and a member of the League’s Governmental Affairs team. If you are interested in participating in the program, contact Robert Caverly, League Vice President of Governmental Affairs, at rcaverly@mainecul.org.