Ore. CUs watch minimum wage bill during short session

February 3, 2016

SALEM, Ore. (2/3/16)--A possible raise in the minimum raise is among the issues being closely monitored by the Northwest Credit Union Association during the 2016 Regular Session of the 78th Oregon Legislative Assembly, which convened Tuesday (Anthem Feb. 2).

Because it is an even-numbered year, the Legislature will convene for just 35 days in 2016. This “short session” will end on March 5 or sooner.

Gov. Kate Brown is proposing a two-tier minimum wage system, in which the wage would be 15% higher in the Portland metropolitan area. Outside of Portland’s urban growth boundary, minimum wage would be raised to $10.25 in 2017 and increased to $13.50 by 2022. In Portland, the 2017 wage would be $11.79, and increase to $15.52 by 2022. After 2022, increases would again be tied to changes in the Consumer Price Index.

Among other measures the league is tracking:

  • HB 4013, which authorizes county governing bodies to establish multidisciplinary elderly or vulnerable person fatality review teams to assist local organizations and agencies in identifying and reviewing fatalities involving abuse or neglect of elderly or vulnerable persons;
  • HB 4021, which requires that the state treasurer conduct a study to assess the viability of establishing a student loan refinancing program; and
  • HB 4094, which directs Oregon Liquor Control Commission and Oregon Health Authority to provide financial institutions with information related to licensed or registered marijuana-related businesses, researchers and laboratories upon request.

The most immediate impact of HB 4094 for credit unions would be to facilitate a provision of license file information to lender institutions in order to permit them to conduct the required due diligence. Although the biggest obstacles to serving marijuana-related businesses are embedded in federal law, this bill would help Oregon financial institutions minimize their risks in the current federal environment, the league said.