Passed by the House February 11, 2006 Yeas 87 Nays 8 ________________________________________ Speaker of the House of Representatives Passed by the Senate February 24, 2006 Yeas 47 Nays 0 ________________________________________ President of the Senate		CERTIFICATE I, Richard Nafziger, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 2364 as passed by the House of Representatives and the Senate on the dates hereon set forth. ________________________________________ Chief Clerk
Approved ________________________________________ Governor of the State of Washington		FILED Secretary of State State of Washington

Prefiled 12/22/2005. Read first time 01/09/2006. Referred to Committee on Financial Institutions & Insurance.

AN ACT Relating to use tax owed by converting or merging credit unions when converting or merging a federal, foreign, or out-of-state credit union into a state charter; and adding a new section to chapter 82.12 RCW.

NEW SECTION.  Sec. 1   A new section is added to chapter 82.12 RCW to read as follows:
     (1) This chapter does not apply to state credit unions with respect to the use of any article of tangible personal property, service defined as a retail sale in RCW 82.04.050 (2)(a) or (3)(a), or extended warranty, acquired from a federal credit union, foreign credit union, or out-of-state credit union as a result of a merger or conversion.
     (2) For purposes of this section, the following definitions apply:
     (a) "Federal credit union" means a credit union organized and operating under the laws of the United States.
     (b) "Foreign credit union" means a credit union organized and operating under the laws of another country or other foreign jurisdiction.
     (c) "Out-of-state credit union" means a credit union organized and operating under the laws of another state or United States territory or possession.
     (d) "State credit union" means a credit union organized and operating under the laws of this state.