Estimated read time: Less than a minute
(Salt Lake City, KSL News) -- A bill backed by the banking industry to tax Utah's three largest credit unions will face an important test today.
The full House is expected to debate the bill which has now been modified 10 times. The newest version calls for lower taxes on the credit unions than before, and delays them until after a task force studies that and other issues.
Credit unions are still fighting the bill, saying it's unfair.
Banks insist the bill is needed because some credit unions are operating like banks, without having to pay the same taxes banks do.