Advocacy News

E-News 6-9-23 STATE GOVERNMENT RELATIONS Mandatory E-Lien Now in Place in Indiana Per legislation that was enacted two years ago, all lienholders who conduct 12 or more lien transactions annually through the Bureau of Motor Vehicles should be prepared to be enrolled in the e-lien program by July 1, 2023. The BMV has approved two vendors: DDI Technology, an IBA Preferred Service Provider, and Dealertrack Inc., an associate member of the IBA. The BMV is currently working to onboard two additional vendors for consideration. Lienholders who qualify for e-lien under this criterion but are not enrolled in...
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E-News 6-2-23 FEDERAL GOVERNMENT RELATIONS Debt Ceiling Deal Clears House & Senate President Biden and House Speaker Kevin McCarthy, R-Calif., reached an agreement to raise the debt ceiling ahead of a projected June 5 "x-date," at which point the federal government would be unable to service its outstanding debt.  The House voted 314-117 Wednesday night to approve the agreement to raise the debt ceiling. The deal struck by President Biden and Speaker McCarthy cleared the chamber with majorities in both parties voting in favor of the legislation. The Senate voted 63-36 Thursday night in...
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E-News 5-26-23 FEDERAL GOVERNMENT RELATIONS House Committee Advances 403(b) Bill With a bipartisan vote of 35 to 12, the House Financial Services Committee this week advanced H.R. 3063, the Retirement Fairness for Charities and Education Institutions Act of 2023. This bill would amend the Exchange Act to allow 403(b) retirement plans – which are offered by public schools, hospitals and certain charities – to invest in unregistered insurance contracts and collective investment trusts that currently may be invested in by comparable retirement plans, such as 401(k) plans. FOMC Minutes: Members...
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E-News 5-19-23 STATE GOVERNMENT RELATIONS Indiana $2 Billion Ahead in Revenue Indiana is nearly $2 billion ahead of its current budget after April tax revenues came in well above the expectations of that spending plan. The state is nearly at the end of its current two-year budget, and it has collected more revenue than needed for the budget in all 22 months of that cycle.  This fiscal year, Indiana has nearly $1.9 billion more than the budget plan expected, and state lawmakers have already planned to spend a lot of that money. In the new state budget, Indiana will spend more than $1 billion...
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