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After a First Regular Session of the 128th Maine Legislature that saw the passage of two, significant League-drafted bills, along with a multitude of other important issues of interest to credit unions, the beginning of the Second Regular Session brings what is anticipated to be a busy session, nevertheless, for CU issues. When the House and Senate returned this past Wednesday, January 3, the first slate of bills were printed and your League has begun its process of evaluating every bill.
While last session was highlighted by a strong grassroots effort to successfully override the Governor's veto of the League-drafted bill to Update the State CU Charter, as well as the passage of a bill regarding tow lots and fees, the League did not submit any bills for consideration this session. Under the rules of the Maine Legislature, all legislation submitted for the second session must be approved by the Legislative Council in order to proceed. Of the 272 bills submitted for consideration, only a fraction received the necessary approval to move forward. Though the number of new bills is small this session, a whopping 319 bills were carried over from the First Session and will be taken up again this session. That represents a nearly 150% increase in carry-over bills from the previous three, short sessions of the Maine Legislature.
One of the bills carried over, L.D. 1355 - An Act to Ensure the Timely and Proper Completion of Residential Foreclosures, is legislation that your League spent a significant amount of time discussing with stakeholders over the summer and fall. According to Elise Baldacci, Vice President of Governmental Affairs, "Two foreclosure working groups offered valuable insight on the process, and is shaping our approach to foreclosure this session." Other bills carried over that the League will be watching closely include bills regarding allowing credit and debit card surcharges, student loans, elder abuse, and rules regarding providing financial services to marijuana-based businesses.
A list of all bills that your League is tracking this session will be posted beginning next week at the 2018 Legislative Session link under the Governmental Affairs Tab in the CU Portal of www.mainecul.org. This will be updated weekly.