Municipal Deposits Bill on Assembly Committee's Thursday Agenda

Monday, June 13, 2011 12:20:00 PM

TRENTON, N.J. - Legislation that would enable counties, school boards, municipalities, and other local government entities to utilize credit unions as depositories (A-1597) has been scheduled for consideration by the Assembly Financial Institutions & Insurance Committee on Thursday. NJCUL will testify in support of the legislation.

The bill is sponsored by Assembly Speaker Shelia Oliver (D-34), Deputy Speakers Upendra Chivukula (D-17) and John Wisnieski (D-19), and has 11 additional co-sponsors from both sides of the aisle.

A companion bill (S-1807) sponsored by Senate President Sweeney (D-3), Senate Republican Conference Leader Bob Singer (R-30), and Deputy Majority Leader Paul Sarlo (D-36) passed the Senate last June.

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