Photo Caption: Washington State Capitol building.

Feb 21, 2019.

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.