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        <ExplanationTxt>Under provisions of the U.S. Internal Revenue Code, section 501(c)(5), the Union is exempt from taxes on income, other than unrelated business income, and accordingly does not record a provision for income taxes on its related earnings. In June 2006, a new accounting interpretation was issued regarding accounting for uncertainty in income taxes, which prescribes how an entity should measure, recognize, present and disclose positions that it has taken or expects to take on its tax or information returns. The effect of the implementation of this guidance was not material to the financial statements.</ExplanationTxt>
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