Local Efforts by State

Local Organizations, Proposed Legislation, Websites

Connect with a local Public Banking grassroots group and help make Public Banks a reality for cities and states around the country.

Compiled by the NCSL (National Conference of State Legislatures):
State-Owned Financial Institutions 2012 Legislation
State Owned Financial Institutions 2011 Legislation
State Owned Financial Institutions 2010 Legislation
2010-2017 Legislation to Create State Owned Financial Institutions

PUBLIC BANK TASK FORCES

These Task Forces often collect and organize much background material and many of these pages are well organized.

San Francisco

San Francisco Municipal Bank Feasibility Task Force

Santa Fe

Santa Fe Public Bank Task Force

Washington State

Washington State Infrastructure & Public Depository Task Force


Alabama


Alaska

Alaska
2016 H.B. 364 Establishes a state bank.
2018 State legislature bill. 2017-2018 HB 376- Establishment of State-Owned Bank. Text of Measure.
Referred to Finance.

“An Act establishing a state bank; relating to insurance, mortgage lending, securities, and permanent fund dividends; and providing for an effective date.”

Arizona

Arizona
2011 H.B. 2221 (2011) Creates the Bank of Arizona and establishes duties of the Bank of Arizona Commission and Board of Directors
2012 H.B. 2104 (2012) Establishes the Bank of Arizona and outlines the duties of the Bank of Arizona Commission and board of directors.
2014 S.B. 1245 Establishes a state-owned bank task force.
2015 H.B. 2270  Establishes a state-owned bank.
2016 H.B. 364  Establishes a state bank.

Arkansas


California
2011 A.B. 750 (2011) Vetoed by governor 9/26/11
This bill establishes the investment trust blue ribbon task force to consider the viability of establishing the California Investment Trust, which would be a state bank receiving deposits of state funds.
2012 A.B. 2500 (2012) This bill establishes the California Investment Trust within state government, and authorizes the trust to exercise various powers and duties relating to banking, including, among others, receiving and managing deposits from public funds, loaning money, engaging in financial transactions, and buying and selling federal funds. The bill requires all state money, as defined, to be deposited into the California Investment Trust. The bill establishes a California Investment Trust Board to be chaired by the treasurer, and establishes an advisory board for purposes of advising the board.
2019 SB-528 (2019) This bill establishes the California Infrastructure and Economic Development Bank (I-Bank) in the Governor’s Office of Business and Economic Development under the direction of an executive director appointed by the Governor, subject to confirmation by the Senate, and governed by a board of directors composed of specified persons. This bill would require that the I-Bank be chartered as a depository institution and authorize the Treasurer, a state officer or employee having control over money belonging to or in the custody of the state, a local agency, as defined, or, upon approval by the board of directors, a quasi-public nonprofit entity to establish a deposit account with the bank.
2019 AB-857 (2019) Public Banks. It is the intent of the Legislature that this act authorize the lending of public credit to public banks and authorize public ownership of stock in public banks for the purpose of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities. It is the intent of the Legislature that public banks shall partner with local financial institutions, such as credit unions and local community banks, and shall not compete with local financial institutions.
Los Angeles 2017 Motion requesting a report on feasibility and requirements to create a Public Bank of Los Angeles – July 2017
San Francisco 2013 Draft Outline of the Municipal Bank of San Francisco – 2013
2017 Resolution to convene a Municipal Public Bank Task Force – April 2017
Oakland 2016 Resolution to prepare cost estimates for Public Bank Feasibility Study – Nov 2016
Mendicino County 2014 Resolution in Support of Public Banking in Mendocino County – Dec 2014

Colorado
2016 Colorado Ballot Proposal. 2015-2016 #127 – Establishment of State-Owned Bank. Text of Measure.
Originally, the ballot proposal was approved by the Title Board for inclusion in public vote, but later was rejected upon modification and other objections.

This ballot proposal establishes a Colorado state-owned bank.

Connecticut

Connecticut
2017
H.B. 6522 Failed Joint Favorable deadline 3/9/17. 
Establishes a task force to examine issues concerning the creation of a state-wide bank in Connecticut.

Delaware


District of Columbia


Florida

Banking for the Common Good


Georgia


Hawaii

Hawaii
2010 H.C.R. 200
Passed House 4/9/10
Requests the Legislative Reference Bureau to study the feasibility of establishing a state-owned bank.
2011 H.B. 853
Passed House 3/8/11
Establishes a task force to review, investigate and study the feasibility and cost of establishing the bank of the state of Hawaii. Requires reports to the Legislature.
2011 H.C.R. 159
Passed House 4/15/11
2011 H.R. 139
Adopted 4/15/11
Creates the task force on establishing the bank of the state of Hawaii.
2011 S.B. 194
Establishes the state bank of Hawaii for the purpose of promoting agriculture, education, community development, economic development, commerce, and industry within the state.
2012 H.B. 1840
Passed House 3/6/12
Establishes a task force to review, investigate, and study the feasibility and cost of establishing a state-owned bank. Requires a report to the Legislature.
2012 H.B. 2103
Passed House 3/6/12
Directs the Department of Commerce and Consumer Affairs to conduct a comprehensive review of relevant state laws to develop legislation to establish the bank of the State of Hawaii. Appropriates funds to conduct the review. Directs the Hawaii housing and finance and development corporation to establish and operate an interim purchase program for distressed residential properties encumbered by problematic mortgages until the bank of the state of Hawaii is operational. Establishes minimum percentages of state funds that shall be deposited in the bank of the state of Hawaii.
2014 H.B. 2112 Directs DCCA to conduct a comprehensive review of relevant state laws to develop legislation to establish the bank of the state of Hawaii.
2015 H.B. 326 Directs DCCA to conduct a comprehensive review of relevant state laws to develop legislation to establish the bank of the state of Hawaii.
2016 H.B. 2508 Establishes the community state bank. Directs the bank to offer low-interest small loans to only individuals who do not otherwise qualify for financing and requires those individuals to achieve financial literacy.
2016 S.B. 2280 Establishes the community state bank. Directs the bank to offer low-interest small loans to only individuals who do not otherwise qualify for financing and requires those individuals to achieve financial literacy.
2016 H.C.R. 47 Requests the commissioner of Financial Institutions to study the feasibility of a state-operated financial institution to service marijuana-related businesses in Hawaii.

Idaho

Idaho
2012 H.C.R. 30
States findings of the Legislature and creating an interim study committee to study the feasibility of the State of Idaho creating a state-owned bank.

Illinois

Illinois
2010 H.B. 5476
Creates the Community Bank of Illinois Act. Provides that the Department of Financial and Professional Regulation shall operate the Community Bank of Illinois.
2011 H.B. 2064
Creates the Community Bank of Illinois Act. Provides that the Department of Financial and Professional Regulation shall operate the Community Bank of Illinois.
2012 H.B. 2064
Creates the Community Bank of Illinois Act.
2012 H.B. 5010
Creates the State Bank of Illinois Act. Establishes the State Bank of Illinois and the State Bank of Illinois Board. Sets forth the membership of the state board. Provides that the state board shall appoint an advisory board of directors. Provides that the State Bank may accept deposits of private funds and public funds. Sets forth the powers of the State Bank. Provides that all deposits in the State Bank are guaranteed by the state.
2013 H.B. 7 Creates the Community Bank of Illinois Act.
2013 H.J.R 38 Creates the Return Illinois To Prosperity Commission. Provides that the Commission shall review and evaluate the creation of an Illinois State Bank, and specifies the criteria to be used by the Commission.
2013 H.R. 215 Creates the Return Illinois To Prosperity Commission. Provides that the Commission shall review and evaluate the creation of an Illinois State Bank, and specifies the criteria to be used by the Commission.
2014 H.B. 7 Creates the Community Bank of Illinois Act.
2015 H.B. 107 Creates the Community Bank of Illinois Act.
2015 H.R. 6 Adopted 5/30/15.
Creates the Return Illinois To Prosperity Commission. Provides that the Commission shall review and evaluate the creation of an Illinois State Bank, and specifies the criteria to be used by the Commission.
2015 H.J.R. 24 Passed House 4/17/15.
Creates the Return Illinois To Prosperity Commission. Provides that the Commission shall review and evaluate the creation of an Illinois State Bank, and specifies the criteria to be used by the Commission.
2016 H.B. 107 Creates the Community Bank of Illinois Act.
2017 H.B. 454 Creates the Community Bank of Illinois Act.

Indiana


Iowa


Kansas


Kentucky


Louisiana

Louisiana
2010 H.C.R. 111 Passed House 4/14/10.
Requests the Office of Financial Institutions to study the creation of a state-owned bank.
2011 H.C.R. 144 Passed House 6/2/11.
Requests the state treasurer and the Office of Financial Institutions to jointly study the creation of a state-owned bank.

Maine
2011 L.D. 1452
This bill establishes the Maine Street Economic Development Bank effective July 1, 2013 except that the bank may not make, purchase, guarantee, modify or hold loans until the bank has adequate capital of at least $20,000,000. It specifies the purposes of the bank, establishes a board of directors and creates an advisory committee. It allows the bank to accept deposits of public funds, to make, purchase, guarantee, modify or hold certain loans and to serve as a custodian bank.
2013 L.D. 1078 This resolution establishes the Task Force on the Creation of a State of Maine Partnership Bank to develop a proposal to establish the State of Maine Partnership Bank, which must be specifically designed to partner with financial institutions that are headquartered in Maine or are Maine-owned, or both, in order to provide access to capital for local small businesses and family farmers, to enable state public funds to be retained within the state and to facilitate the investment of increased state resources in high-quality, in-state investments, such as loans to local businesses, family farmers and homeowners.
2013 L.D. 1508 This bill establishes the Maine Street Bank effective July 1, 2015 except that the bank may not make, purchase, guarantee, modify or hold loans until the bank has adequate capital of at least $20,000,000.
2015 L.D. 24 This bill establishes the Maine Street Bank effective July 1, 2017, except that the bank may not make, purchase, guarantee, modify or hold loans until the bank has capital of at least $20,000,000.
2017 L.D. 237
This bill establishes the Maine Street Bank effective July 1, 2019, except that the bank may not make, purchase, guarantee, modify or hold loans until the bank has capital of at least $20 million.

Maryland

Maryland 2011 H.B. 1066 Establishes the Maryland State Bank Commission to review and evaluate the creation of a Maryland State Bank; provides for the membership and staffing of the Commission; prohibits members of the Commission from receiving specified compensation, but authorizes the reimbursement of specified expenses; requires a final report by a specified date.
2011 S.B. 789 Establishes the Maryland State Bank Commission to review and evaluate the creation of a Maryland State Bank.
2012 H.B. 1258 Establishes the Maryland State Bank Task Force to review and evaluate the creation of a Maryland State Bank.
2013 H.B. 1306 Authorizes a political subdivision to establish a public banking institution within the jurisdiction of the political subdivision and act as an incorporator to establish the public banking institution; establishes the Maryland State Banking Task Force to review and evaluate the creation of a Maryland State Bank.
2016 H.B. 794 Authorizes a political subdivision to establish a public banking institution within the jurisdiction of the political subdivision and act as an incorporator to establish the public banking institution; establishes the Maryland State Banking Task Force to review and evaluate the creation of a Maryland State Bank.

Massachusetts

Massachusetts
2010 S.B. 2270
Accompanied by new draft S.B. 2331 3/18/10
Establishes a commission to study the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2010 S.B. 2331
Accompanied by new draft S.B. 2345 4/1/10
Establishes a commission to study the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2010 S.B. 2345
Accompanied by new draft S.B. 2380 4/8/10
Establishes a commission to study the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2010 S.B. 2380
Substituted by S.B. 2582 7/30/10
Establishes a commission to study the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2010 S.B. 2582
Signed by governor with line item veto 8/5/10
Veto Message:
Establishes a commission to study the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2011 H.B. 1192
Creates the Bank of Massachusetts.
2012 H.B. 1192
Creates the Bank of Massachusetts.
2015 H.B. 934 Relates to the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2016 H.B. 934 Relates to the feasibility of establishing a bank owned by the commonwealth or by a public authority constituted by the commonwealth.
2017 H3543 Act establishing the Massachusetts Infrastructure Bank – Discharged to the Committee on Financial Services – Jan 2017
Related: The Clear Case for an Infrastructure Bank for MA – Charles Grigsby

Michigan

Michigan
2016 H.B. 8533 Establishes the community bank of Michigan; provides for confidentiality of commercial or financial information of a customer; provides that the state treasurer shall deposit all surplus funds in the bank; provides that all bank deposits are guaranteed by the state and exempt from taxes; provides for loans for development projects in rural areas, agricultural real estate loans and loans to an investment company.
2016 H.B. 5834 Requires investments of surplus funds in state-owned bank; regulates the disposition of the surplus funds in the state treasury; provides for the deposit of surplus funds in certain financial institutions and the community bank; relates to loan agreements secured by commercial, agricultural, or industrial real and personal property.
2016 H.B. 5835 Requires bank deposit accounts of state money to deposit in state-owned bank; relates to interest, exchange and commission received or paid by the state treasurer.
2016 H.B. 5836 Authorizes loans to eligible municipalities by state-owned bank.
2016 H.J.R. RR Proposes a constitutional amendment to allow the deposit of state money in the in the community bank of Michigan.
2018 HB5431 The Bank of Michigan Act – Referred to Committee on Regulatory Reform – Jan 2018
2018 HB5432 Deposits concerning The Bank of Michigan Act – Referred to Committee on Regulatory Reform – Jan 2018
2018 HB5433 Accounting concerning The Bank of Michigan Act – Referred to Committee on Regulatory Reform – Jan 2018
2018 HB5434 Loans concerning The Bank of Michigan Act – Referred to Committee on Regulatory Reform – Jan 2018
2018 HJR CC Allowing the deposit of state money in the Bank of Michigan – Referred to Committee on Regulatory Reform – Jan 2018

Minnesota

Minnesota
2017 H.F. 273 (2017) Establishes a State Bank of Minnesota; authorizes beginning farmer loans; appropriates money.
2017 S.F. 1978 (2017) Establishes a State Bank of Minnesota; authorizes beginning farmer loans; appropriates money.

Mississippi

Mississippi
2011 H.B. 996
Died in committee 3/6/12
Creates the State Bank of Mississippi for the purpose of encouraging and promoting agriculture, commerce and industry in the state; provides that the Mississippi Development Authority shall operate, manage and control the state bank; provides that the business and financial transactions of the state bank may include anything that any bank or bank holding company lawfully may do; provides that the governor shall appoint an advisory board of directors to the state bank to enlist the help of private enterprise and to encourage more active use of the purposes for which the state bank was created.


Montana

Montana
2011 H.B. 643
Missed deadline for revenue bill transmittal 3/30/11
Creates a state Bank of Montana as a new agency within state government; provides duties for the state bank; creates a state debt; exempts the bank president from the state pay classification system; revises distribution of interest income on coal severance tax collections and the coal severance tax trust fund; revises distribution of volume cap bonds; revises duties of the Department of Commerce, the Board of Housing, the Montana Facility Finance Authority, the growth through agriculture program, and various economic development programs; provides for $15 million in revenue bonds for startup financing; provides for a transition from grants to loans for the treasure state endowment fund, the treasure state water fund, and the economic development fund; provides a transition for the bonding authority of the Board of Housing and the Montana Facility Finance Authority; provides rulemaking authority; provides a statutory appropriation.
2011 H.J.R. 25
Passed House 4/13/11
Requests an interim study of investment and banking changes necessary to create a state Bank of Montana similar to the Bank of North Dakota.
2013 H.B. 474 Died in committee 4/24/13.
Creates a state bank of Montana known as the Montana Resources Bank; requires the Board of Investments to report to the 64th Legislature regarding the management, operational structure, and capitalization of the Montana Resources Bank; provides a transition for certain activities from the Board of Investments to the Montana Resources Bank; exempts certain bank officers from the state classification and pay plan; provides an appropriation to develop a report.
2013 H.B. 482 Died in committee 4/24/13.
Creates a Montana partnership bank governed by the Board of Investments; creates a Montana partnership bank revolving loan account; allows the Board of Investments to invest short-term investments, the public employees’ retirement funds, and a portion of the permanent coal tax trust fund in the Montana partnership bank revolving loan account for either capitalization or loan-making purposes; exempts certain bank officers from the state classification and pay plan; provides a statutory appropriation; extends rulemaking authority.

Nebraska


Nevada

Nevada
2011 S.B. 341
Directs the Legislative Commission to appoint a subcommittee to conduct an interim study concerning the establishment of a bank that is owned, controlled and operated by this state.

New Hampshire

New Hampshire
2011 H.B. 430
This bill establishes a committee to study the feasibility of establishing a state development bank in New Hampshire.
2012 H.B. 430
Failed to pass House 1/4/12
This bill establishes a committee to study the feasibility of establishing a state development bank in New Hampshire.
2012 H.B. 1691
Failed to pass House 3/8/12
This bill establishes a state bank.
2017 H.B. 590
Establishes a state bank. This bill establishes the Development Bank of New Hampshire (State Bank) overseen by a board consisting of 5 members appointed by the Governor subject to approval by the legislature.
2019 HB 367-FN
Establishes a state bank. This bill establishes the Development Bank of New Hampshire (State Bank) overseen by a board consisting of 5 members appointed by the Governor subject to approval by the legislature.

New Jersey
2017 S. 885 Establishes a State Bank of New Jersey. It is the intent of the Legislature that State funds and funds of State institutions may be deposited at the State Bank of New Jersey and guaranteed by the State. Other deposits may be accepted from any public source. The State Bank of New Jersey shall be operated to benefit the citizens of New Jersey.

New Mexico
2011 H.B. 290
Enacts the Small Business Development Bank Act; creates the New Mexico Small Business Development Bank; establishes the small business development bank board; provides powers and duties; authorizes loan participation agreements with community banks for economic development projects; provides for the investment of a portion of the severance tax permanent fund in the New Mexico small business development bank; provides penalties.
2016 H.M. 62 Requests the New Mexico legislative council to appoint a delegation of legislators to tour the State Bank of North Dakota to study its economic attributes and contributions to state economic growth.
2017 H.M. 7
Requests the Legislative Finance Committee to undertake a study of ways in which the resources of the New Mexico Finance Authority might be made more accessible to persons and businesses in New Mexico, including the option of forming a state-owned bank.
2017 Resolution requesting a report from the Finance Dept and the creation of a Public Bank Task Force – April 2017
2019 H.M. 41
A Memorial requesting the legislative finance committee to undertake a feasibility study of establishing a state-owned bank in New Mexico.

New York

New York
2011 A.B. 6737
Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within two years.
2012 A.B. 6737
Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within two years.
2013 A.B. 1696 Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within one year.
2014 A.B. 1696 Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within one year.
2014 S.B. 7416 Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within one year.
2017 A.B. 7545 (2017) Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report thereon.
2017 S.B. 3172 (2017) Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report thereon.
2017 S.B. S8428 (2017) Relates to establishing the empire state public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. An act to amend the state finance law, in relation to establishing the empire state public bank; and providing for the repeal of certain provisions upon expiration thereof.
2019 S.B. S1778 (2019) Relates to establishing the empire state public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. An act to amend the state finance law, in relation to establishing the empire state public bank; and providing for the repeal of certain provisions upon expiration thereof.
2019 A.B. A437 (2019) Relates to establishing the empire state public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. An Act to amend the state finance law, in relation to establishing the empire state public bank; and providing for the repeal of certain provisions upon expiration thereof.

North Carolina

North Carolina
2012 S.B. 936
Establishes a joint legislative study commission to study the feasibility of establishing the “North Carolina Investment Trust,” which would be a state-owned bank receiving deposits of state funds.
2013 S.B. 150 Establishes a joint legislative study commission to study the viability of establishing the “North Carolina Investment Trust,” which would be a state-owned bank receiving deposits of state funds.

North Dakota

North Dakota
Current Several sections of the North Dakota Century Code address the creation of the Bank, its oversight and role in the state. Today, the North Dakota Legislature will appropriate funds from BND when needed through the budget process or state law.


Ohio


Oklahoma


Oregon

Oregon
2011 H.B. 2263
Creates the Task Force on Establishing State Bank of Oregon. Directs the task force to undertake studies and make recommendations on establishing a state bank for Oregon that is modeled on the Bank of North Dakota. Sunsets the task force on date of convening of 2013 session.
2011 H.B. 2972
Establishes the Bank of the State of Oregon. Specifies the purposes of bank. Establishes the Bank of the State of Oregon Board to operate and manage bank. Creates an advisory board of directors to advise bank board and management on operation of bank. Requires the bank to accept deposits of public funds and permits bank to accept deposits of other funds. Permits the bank to make, purchase, guarantee or hold certain loans and to serve as custodian bank. Specifies other powers. Directs the state treasurer to deposit moneys in bank in amount treasurer determines is necessary to allow bank to fulfill duties. Requires the Bank of the State of Oregon Board to determine and reserve amount of revenue necessary to continue bank operations in safe and sound manner and to credit remaining revenue to use for general governmental operations. Directs the board to adopt rules to ensure safety and soundness of bank, describe permissible investments, bank services, loan limits and reserve requirements. Requires a secretary of state audit. Specifies that deposits of bank are guaranteed by state and that income bank earns on public funds is not subject to taxation. Specifies that certain bank records are confidential and not subject to disclosure.
2011 H.B. 3452
Creates the Oregon Finance and Credit Board to formulate and implement investment and management policies and practices for state funds controlled and administered by state agencies. Authorizes the board to enter into contracts with state agencies for investment and management of state funds. Authorizes the board to make, purchase, guarantee and hold loans, purchase participation interests and invest and manage state funds. Directs the board to adopt rules. Requires a report to the Legislative Assembly on or before date of convening of 2013 regular session of Legislative Assembly.

Pennsylvania
2014 H.B. 2440 Establishes the Commonwealth Bank of Pennsylvania Study Commission to review and evaluate the establishment of a Commonwealth Bank of Pennsylvania; provides for the powers and duties of the commission.
Philadelphia 2019 The City of Philadelphia is seeking responses to this request for proposal from consultants to conduct a feasibility study on the City of Philadelphia’s ability to establish and operate a municipally owned bank.

Rhode Island

Rhode Island
2013  H.B. 5967  This bill establishes a state bank to protect the financial welfare and economic vitality of the citizens of Rhode Island, to obtain credit and support the functions of state government, to create jobs and improve the general welfare of the state of Rhode Island.
2015  H.B. 6024 Establishes a state bank.

Puerto Rico


South Carolina

South Carolina
2012 H.B. 4822
Adds Chapter 2 to Title 34 so as to establish the Bank of South Carolina, among other things, to provide for the governance of the bank, the purposes of the bank, and the authority of the bank.

South Dakota


Tennessee


Texas


Utah


Vermont
2012 H.B. 542
Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank.
2012 S.B. 204
Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank.
2014 H.B. 627 This bill proposes to: (1) create statutorily the 10 Percent for Vermont Program within the Vermont Economic Development Authority for the purpose of establishing a banking system owned, controlled, and operated by the state of Vermont; (2) amend the statutory authority of the Vermont Economic Development Authority to permit it to engage in the business of banking; and (3) direct the state treasurer to transfer 10 percent of the state government’s cash reserves to the 10 Percent for Vermont Program for initial funding.
2014 S.B. 204 This bill proposes to: (1) create statutorily the 10 Percent for Vermont Program within the Vermont Economic Development Authority for the purpose of establishing a banking system owned, controlled, and operated by the state of Vermont; (2) amend the statutory authority of the Vermont Economic Development Authority to permit it to engage in the business of banking; and (3) direct the state treasurer to transfer 10 percent of the state government’s cash reserves to the 10 Percent for Vermont Program for initial funding.
2017 H.B. 208
Text of bill. This bill proposes to create the Commission on the State Bank of Vermont.
2017 S.B. 48
Text of bill. This bill proposes to create the Commission on the State Bank of Vermont.

Virginia

Virginia
2010 H.J.R. 62
Establishes a joint subcommittee to study whether to establish a bank operated by the Commonwealth. The study shall consider recommendations for legislation to establish a state owned, controlled, and operated bank.
2012 H.J.R. 12
Establishes a joint subcommittee to study whether to establish a bank operated by the Commonwealth. The study shall consider recommendations for legislation to establish a public bank that is owned, controlled, and operated by the state.

U.S. Virgin Islands


Washington
2010 H.B. 3162
Creates a state bank overseen by the state treasurer. Allows the state treasurer to fund the bank with state funds. Provides the state bank with the same types of authority to operate as a private bank chartered by the state.
2010 H.J.R. 4224
Proposes an amendment to the state constitution authorizing a state bank of Washington.
2011 H.B. 1320 Establishes the Washington Investment Trust.
2011 S.B. 5238
Establishes the Washington Investment Trust.
2012 H.B. 2434
Creates the Washington Investment Trust to: serve as a depository for state moneys, invest state moneys, facilitate investment in infrastructure, administer student loans, and provide banking services.
2012 .B. 6310
Establishes the Washington Investment Trust.
2013 S.B. 5029 Creates the Washington Investment Trust as a legacy institution that amasses sufficient capital reserves to address opportunities now and in the future. Creates the Washington Investment Trust Commission as the primary governing authority of the trust. Creates the trust transition board and the Investment Trust Advisory Board. The trust transition board expires July 1, 2014. Exempts the trust from payment of all fees and taxes levied by the state or any of its subdivisions.
2015 S.B. 5553 Creates the Washington investment trust as a legacy institution that amasses sufficient capital reserves to address opportunities now and in the future. Creates the Washington investment trust commission as the primary governing authority of the trust. Creates the trust transition board and the investment trust advisory board. The trust transition board expires July 1, 2016. Exempts the trust from payment of all fees and taxes levied by the state or any of its subdivisions.
2015 S.B. 5971 Specifies that the legislature intends the state to engage in the business of banking under the name of the Washington publicly owned trust with the mission of the trust being to act as the sole depository for in-state marijuana producers, processors, and retailers and to use taxable earnings from those deposits for the benefit of the people and economy of the state.
2017 Proviso in the State’s 2017-2019 Operating Budget to create an Infrastructure and Public Depository Task Force – June 2017
2018 SB 6375 An Act developing a publicly owned depository business plan – Referred to Ways & Means Committee – Jan 2018
2018 SB 6032 Supplemental appropriations bill that includes funds to develop a business plan for a public cooperative bank – Passed legislature – Mar 2018

West Virginia
2014 H.B. 4584 Creates the “State Bank of West Virginia” owned, controlled and operated by the state for the purpose of encouraging and promoting agriculture, commerce and industry.
2014 H.C.R. 98 Requests the Joint Committee on Government and Finance authorize a study on whether to establish a bank operated by the state.
2017 H.C.R. 39
Requests the Joint Committee on Government and Finance authorize a study on whether to establish a bank operated by the state.

Wisconsin


Wyoming