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.
Share this blog post with your friends!