Creating the Washington state public bank.

 S-1311.2

SENATE BILL 5754

State of Washington

69th Legislature

2025 Regular Session

By Senators Hasegawa, Trudeau, Conway, Dhingra, Lovelett, Saldaña, Stanford, and C. Wilson

Read first time 02/14/25. Referred to Committee on Business, Financial Services & Trade.

AN ACT Relating to the creation of the Washington state public bank; amending RCW 39.59.040 , 42.56.270 , 42.56.400 , 43.10.067 , and 43.84.080 ; adding a new section to chapter 43.08 RCW; adding a new chapter to Title 43 RCW; and creating a new section.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1. FINDINGS AND INTENT. The legislature finds that Washington state needs to drastically increase our public financing capacity without raising taxes on working families or financial debt obligations of the state.

The legislature finds that the infrastructure needs of our state far outstrip our ability to finance them under our current public financing model, which relies heavily on bonding. This reliance on bonding diverts much needed and hard-earned tax revenues of our taxpayers from critical programs that benefit them and the state.