Word: tax-exempt
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...confused about what a credit union is, you're not alone. The institutions, which date to the mid-1800s, took off during the Great Depression as not-for-profit, tax-exempt organizations through which workers in a company could pool their savings to qualify for loans for cars and other big-ticket items. About 10,000 exist today. The Navy's is the nation's largest, with 1.25 million members, while some have fewer than 500 members. Roughly 60% of credit unions are federally chartered (the rest have state charters) and supervised by the National Credit Union Administration. Nearly...
...Tax-exempt investors tend to be a conservative bunch. So they may be excused for choking on the sudden sickliness of so-called state tobacco bonds. These unusual securities, whose prices have bucked wildly, are a small part of the $1.8 trillion U.S. municipal-bond market. But they've infected other bonds, boosting volatility and hurting prices. Yet some bargains have emerged...
...disability, age and race discrimination statutes - to the 6th Circuit Court of Appeals is expected Tuesday. Then Thursday, the Judiciary Committee is scheduled to vote on Carolyn Kuhl, whom George Bush wants to seat on the appellate court in California. As a Reagan administration lawyer, Kuhl argued hard for tax-exempt status for the racially discriminatory Bob Jones University, and for the reversal of Roe v. Wade. Sutton and Kuhl have run up against heavy Democratic opposition, and the Dems have filibustered another appellate nominee, Miguel Estrada, for nearly two months, blocking an up-or-down vote...
Lurie said approving the grant might cost the council its tax-exempt status, a claim which Chopra and several other council members dismissed as baseless...
According to city officials, Harvard’s tax-exempt status deprives the city of Cambridge more than $30 million in foregone property-tax income each year. One hundred ninety acres of Harvard property go untaxed. But Harvard’s PILOT only requires a $1.5 million annual payment to the city and—if not renegotiated—is locked in for the next seven years...