Just in: Washington State introduces a new bill to create a state bank for infrastructure

Washington State Capitol building

Washington State Capitol building

 

Long-standing public bank advocate WA State Senator Bob Hasegawa introduced a bill this week, SB 5949, that would create a public state investment trust and a commission to oversee it. A public hearing happening today, Feb 21, is considering Hasegawa's proposed amendment that would allow  municipalities and other political subdivisions to cooperatively own the trust.

This bill introduction follows a positive interim report issued in December by University of Washington's Evans School of Public Policy and Governance, which concluded that: “Improvements can be achieved by creating a state-chartered public cooperative bank.”

Stay tuned: more details to come on this developing story.

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