- Organized Community Groups for Public Banking / Candidate with Public Bank Platform
- Bill, Feasibility / Viability Study, Task Force, or Ballot Measure Introduced 2017-2023
- Legislation Passed / Executive Order Given
- State / Territorial / Municipal Public Bank Established
Current and past legislation at your fingertips
Legislation by State
Click on a state in the map above, or select a state in the dropdown menu below.
Legislation tracker / brief updates
East Bay
Public Bank East Bay makes history as it hires its first CEO, Scott Waite, becoming the first public banking effort in the nation to bring on a chief executive as well as a prospective board, led by Co‐Chairs Paulina Gonzalez‐Brito and Jennifer Esteen, for the planned public bank. Waite is tasked with completing the public bank’s business plan required to apply for a bank charter, which will license the bank to do business. The Board expects the bank to open by early 2025. Public Bank East Bay’s Viability Study has been approved by Richmond and Oakland, including approval of valuable city staff time toward the project. PBEB advocates continue their work toward gaining commitments from other regional cities as founders and depositors, and on writing the business plan.
San Francisco
San Francisco’s Board of Supervisors unanimously passed a resolution on Sept 5 to accept the business and governance plans for both the Municipal Finance Corporation and the Public Bank. With the Board’s go-ahead, San Francisco is able to start implementing its own publicly owned financial corporation, which would then be converted into the city’s first public bank. The San Francisco Reinvestment Working Group (RWG) plans would first set up a publicly owned non-depository municipal finance corporation (MFC) that will invest in key city needs, such as affordable housing, small businesses, and green infrastructure. The MFC is designed to work in partnership with San Francisco’s many dedicated CFIs and CDFIs through participation and syndication lending and other collaborative approaches.
Oregon
Oregon’s State Bank Task Force bill, HB 2763, to create a state public bank task force passed both houses of the state legislature. Governor Tina Kotek’s vetoed it Aug 4th, despite vocal support for her signature from advocates in Oregon and around the country. The State Senate passed the bill on June 23, following its passage by the House on June 14. The bill would have established a 19-member task force selected by the Governor, the President of the Senate, and Speaker of the House to study and make recommendations for the establishment of a state public bank. Its final report, including recommendations for legislation and a governing structure, would have been due September 1, 2024. The Oregon Public Bank Alliance organized strong support and testimony for this bill.
Los Angeles
Los Angeles City Council approves funding for Phase 1 of the public bank viability study required by California’s Public Banking Act, AB857. In a unanimous decision on June 20th, the Los Angeles City Council made their first financial investment toward launching a public bank, voting to approve funding in the amount of $460,000 for consultant services to conduct Phase 1 of a viability study. The two-phase study will examine “policy, fiscal, and economic analyses related to the formation of a public bank serving the City of Los Angeles.” Once the Phase 1 report is received from the consultants, HR&A Advisors, the Council has the option to choose a banking model and move forward to fund Phase 2 of the study. The Council’s approval of funding did not specify a delivery date for this report. City Council voted to approve the Request for Proposal (RFP) for such a study in October 2021. The JFI / Berggruen reports released earlier this year examining what a Los Angeles public bank could do for the city were conducted independently from this RFP process.
New York
NY Senate Bill S1754 / Assembly Bill A3352 to establish the “New York public banking act,” which is similar to California’s AB857, were introduced in mid January by State Sen. James Sanders Jr. and Assemblymember Pamela J. Hunter, respectively. As of mid March, the Senate bill has met the 32 Senator co-sponsor threshold to pass. The Assembly bill has 61 co-sponsors, 14 Assemblymembers short of having majority support.
Washington
A bill to create the Washington State Public Infrastructure Bank was introduced in January by State Sen. Patty Kuderer and 13 co-sponsors. The bill, SB 5509, was amended to create a loan fund instead of a bank and did not make it out of its Senate committee. Washingtonians for Public Banking recently held their first public event, which reviewed public banking efforts in Washington State.
Massachusetts
A new state public bank bill was introduced in both houses in January, sponsored by State Rep. Mike Connolly, State Rep. Antonio F. D. Cabral, and State Sen. James B. Eldridge. HD.2677 (House) and SD.1589 (Senate) incorporate recommended technical and language adjustments to the bill introduced last session (2021-22), honed through close work with the State Treasurer, CDFI leaders, and banking regulatory bodies including the Federal Reserve.
Philadelphia
A resolution to form a Philadelphia Public Finance Authority received a nearly unanimous approval, 15 – 1, by the City Council last March. Mayor Jim Kenney has refused to implement the mandated board appointments, but Philly advocates are pushing ahead in seating the board members for the Public Finance Authority that they’ve identified and vetted. The primary for electing a new mayor is scheduled for May 17, and five of the ten candidates running for the position are former City Councilmembers who voted for the Financial Authority. Prospects are therefore good.
New Hampshire
NH State Representative Jason Gerhard introduced HB648-FN to establish a state bank of New Hampshire in early January. A public hearing was held February 7, for which PBI Chair Ellen Brown submitted written testimony on behalf of PBI. Commerce and Consumer Affairs Committee determined on March 8 the bill was “Inexpedient to Legislate” 18-1. Report p5.
New Mexico
The Alliance for Local Economic Prosperity (AFLEP) has shifted the window in which they expect to introduce their legislation from this year’s 60-day session to next year’s 30-day session, based on new opportunities likely to improve the bill’s chance of success. The newly inaugurated State Treasurer, Laura Montoya, is a strong supporter of a public bank and AFLEP wants to work with her to strengthen their case.
Active Legislation
States
Cities
Federal
States
States – active legislation
| State | Year | Legislation |
| Massachusetts | 2023 | HD.2677 and SD.1589 An Act to establish a Massachusetts public bank. There shall be a Massachusetts public bank (the Bank), wholly owned by the commonwealth, to provide a safe depository for a portion of the public funds in the commonwealth and to support the economic well-being of the commonwealth, its cities and towns, its residents, its businesses and its state and municipal institutions, with an accountable and responsive governance structure that ensures community input. |
| New York | 2023 | S1754 and A3352 Establishes the “New York public banking act”; authorizes municipal and other local governments to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities. |
| New York | 2023 | A2536 and S1756 Establishes the state of New York public bank. Relates to establishing the state of New York public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. |
| Oregon | 2023 | HB 2763 Establishes State Public Bank Task Force. Directs task force to study and make recommendations regarding establishment of state public bank. Requires task force to submit report to committee of Legislative Assembly by January 31, 2024. Passed both Houses. Vetoed by the Governor. |
| Oregon | 2023 | SB 501 Establishes Bank of the State of Oregon. Specifies purposes of bank. Establishes Bank of the State of Oregon Board to operate and manage bank. Creates advisory board of directors to advise bank board and management on operation of bank. Requires bank to accept deposits of public funds and permits bank to accept deposits of other funds. Permits bank to make, purchase, guarantee or hold certain loans and to serve as custodian bank. Specifies other powers. Directs State Treasurer to deposit moneys in bank in amount treasurer determines is necessary to allow bank to fulfill duties. |
| Washington | 2023 | SB 5509 Creating the Washington state public infrastructure bank. |
| New Hampshire | 2023 | HB 648-FN AN ACT relative to establishing a state bank of New Hampshire. On behalf of PBI, Chair Ellen Brown submitted written testimony Feb 7, 2023 in support. The Commerce and Consumer Affairs Committee determined the bill was “Inexpedient to Legislate” on March 8. 18-1. (Report p5) |
Cities
Cities – active legislation
| City | Year | Legislation |
| Philadelphia | 2021 | 210956 Signifying the intention of the City of Philadelphia to organize the Philadelphia Public Financial Authority pursuant to authority established under state law, and amending Chapters 20-600 (“Standards of Conduct and Ethics”), 20-1200 (“Lobbying”), and 17-1400 (“Non-Competitively Bid Contracts; Financial Assistance”) of The Philadelphia Code to address ethics, contractual and other requirements applicable to the Philadelphia Public Financial Authority, all under certain terms and conditions. Summary of bill. City Council APPROVES bill 15-1 March 3, 2022 |
| Los Angeles | 2021 | Motion 19-1235 (2019) AB 857 / California Law / Municipal Bank of Los Angeles (MBLA) / Establishment / Public Bank License – Economic Development and Jobs Committee approved as amended May 5, 2021, EDC Report. Report of the Chief Legislative Analyst, Feb 27, 2020. |
| San Francisco | 2021 | Ordinance 210078 (2021) Ordinance amending the Administrative Code to establish the San Francisco Reinvestment Working Group to submit business and governance plans for a non-depository Municipal Finance Corporation and for a Public Bank to the Board of Supervisors and to the Local Agency Formation Commission. Unanimously PASSED. News report KPIX CBS SF BayArea |
Federal
Federal – active legislation
| Legislative body | Year | Legislation |
| House | 2023 | H.R. 4052(formerly H.R. 3339 (2021) National Infrastructure Bank Act of 2023 |
| House | 2020 | H.R.8721 (2020) The Public Banking Act – To provide for the Federal charter of certain public banks, and for other purposes. |
| Senate | 2020 | S. 4614 (2020) Postal Banking Act |
| Senate | 2020 | S. 3571 (2020) Banking for All Act – requires Fed member banks to provide digital pass-through accounts (i.e., digital dollar wallets) to residents and citizens, and to businesses domiciled in the United States. |
All Legislation 2021 - 2022
States 2022
States 2021
Cities
Federal
States 2022
2022 States – all legislation
| State | Year | Legislation |
| Oregon | 2022 | HJR 205 Proposes amendment to Oregon Constitution to specify that section restricting certain banks does not prohibit establishment of bank owned or operated by State of Oregon. Refers proposed amendment to people for their approval or rejection at next regular general election. |
| New Mexico | 2022 | HB 75 Public Banking Act |
| New York | 2022 | A 8857 (2021) Establishes the state of New York public bank. 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. |
States 2021
2021 States – all legislation
| State | Year | Legislation |
| Massachusetts | 2021 | S665 (formerly SD1712), H122 (formerly HD 3247) (2021) An Act to establish a Massachusetts public bank. Fact sheet. |
| New Mexico | 2021 | SB 313, HB 236 (2021) An Act Relating to Public Finance; Enacting the Public Banking Act; Creating the Public Bank of New Mexico. |
| Hawaii | 2021 | HB 240 HD1 (2021) Status. A Bill for an Act Relating to a Bank of the State of Hawaii; Bank of the State of Hawaii Working Group; Establishes the bank of the State of Hawaii working group to propose legislation to establish a state-operated bank of the State of Hawaii. Appropriates funds. The working group shall submit a report of its findings and recommendations, including any proposed legislation, to the legislature by January 1, 2022. Effective 7/1/2050. |
| Hawaii | 2021 | HB 1103 (2021) Status. A Bill for an Act Relating to Public Banking; Implementation Board; State-Owned Bank; Financial Institutions; Establishes an implementation board to review, investigate, and study the feasibility of establishing a state-owned bank. Requires a report to the legislature prior to the regular session of 2022 |
| New York | 2021 | S 1055 (2021) Relates to establishing the state of New York public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. |
| New York | 2021 | A 3309 (2021) 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. |
| New York | 2021 | S 1762, A 5782 (2021) Relates to establishing the New York Public Banking Act. This bill would establish the New York Public Banking Act to create a safe and appropriate regulatory framework for cities and counties seeking to establish public banks. The bill additionally would allow the Department of Financial Services (DFS) to issue special-purpose public bank charters. |
| Oregon | 2021 | SB 399 (2021) Establishes Bank of the State of Oregon. |
| Oregon | 2021 | HB 2743 (2021) Provides that local government may not become stockholder in or loan credit to or in aid of municipal bank. Provides that municipal bank is not required to obtain deposit insurance from Federal Deposit Insurance Corporation under certain conditions. Provides that municipal bank may act as depository or custodian of public funds under certain conditions. This bill has been introduced at the request of the Oregon Public Bank Alliance. |
| Washington | 2021 | SB 5188 (2021) Concerning the creation of the Washington state public bank. |
Cities
2021 Cities – all legislation
| City | Year | Legislation |
| Philadelphia | 2021 | 210956 Signifying the intention of the City of Philadelphia to organize the Philadelphia Public Financial Authority pursuant to authority established under state law, and amending Chapters 20-600 (“Standards of Conduct and Ethics”), 20-1200 (“Lobbying”), and 17-1400 (“Non-Competitively Bid Contracts; Financial Assistance”) of The Philadelphia Code to address ethics, contractual and other requirements applicable to the Philadelphia Public Financial Authority, all under certain terms and conditions. |
| Los Angeles | 2021 | Motion 19-1235 (2019) AB 857 / California Law / Municipal Bank of Los Angeles (MBLA) / Establishment / Public Bank License – Economic Development and Jobs Committee approved as amended May 5, 2021, EDC Report. Report of the Chief Legislative Analyst, Feb 27, 2020. |
| Philadelphia | 2021 | Bill 210005 (2021) Signifying the intention of the City of Philadelphia to organize the Philadelphia Public Banking Authority pursuant to authority established under state law, under certain terms and conditions. |
| San Francisco | 2021 | Ordinance 210078 (2021) Ordinance amending the Administrative Code to establish the San Francisco Reinvestment Working Group to submit business and governance plans for a non-depository Municipal Finance Corporation and for a Public Bank to the Board of Supervisors and to the Local Agency Formation Commission. Unanimously PASSED. News report KPIX CBS SF BayArea |
Federal
2021 Federal – all legislation
| Legislative body | Year | Legislation |
| House | 2021 | H.R. 3339 (2021) (formerly H.R.6422) (2020) National Infrastructure Bank Act of 2021 |
Legislation by state
Alabama
No legislation to date.
Alaska
| Year | Legislation |
| 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.” |
| 2016 | H.B. 364 Establishes a state bank. |
Arizona
| Year | Legislation |
| 2016 | H.B. 364 Establishes a state bank. |
| 2015 | H.B. 2270 Establishes a state-owned bank. |
| 2014 | S.B. 1245 Establishes a state-owned bank task force. |
| 2012 | H.B. 2104 (2012) Establishes the Bank of Arizona and outlines the duties of the Bank of Arizona Commission and board of directors. |
| 2011 | H.B. 2221 (2011) Creates the Bank of Arizona and establishes duties of the Bank of Arizona Commission and Board of Directors |
Arkansas
No legislation to date.
California
California
| Year | Legislation |
| 2020 | SB-310 (2020) This bill would require the Department of Business Oversight to charter the I-Bank as a depository institution and would 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 I-Bank. The bill would require the I-Bank to, among other things, become a member of the Federal Reserve System and the Federal Home Loan Bank System and would prohibit the bank from engaging in prohibited high-risk activities, as defined. |
| 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. |
| 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. |
| 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. |
| 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. |
Los Angeles
| Year | Legislation |
| 2019 | Motion 19-1235 (2019) AB 857 / California Law / Municipal Bank of Los Angeles (MBLA) / Establishment / Public Bank License – Economic Development and Jobs Committee approved as amended May 5, 2021, EDC Report. Report of the Chief Legislative Analyst, Feb 27, 2020 |
| 2018 | “Measure B” Ballot resolution: Formation of a Municipal Bank; submitting to the voters a proposed Charter Amendment that addresses one impediment to establishing a municipal bank, and calling a Special Election on the measure and consolidating it with the State General Election to be held on November 6, 2018. Final ordinance text. City Council vote. Official election results and report. |
| 2017 | Motion requesting a report on feasibility and requirements to create a Public Bank of Los Angeles – July 2017 |
San Francisco
| Year | Legislation |
| 2021 | Ordinance 210078 – Ordinance amending the Administrative Code to establish the San Francisco Reinvestment Working Group to submit business and governance plans for a non-depository Municipal Finance Corporation and for a Public Bank to the Board of Supervisors and to the Local Agency Formation Commission. |
| 2017 | Resolution to convene a Municipal Public Bank Task Force – April 2017 |
| 2013 | Draft Outline of the Municipal Bank of San Francisco – 2013 |
Oakland
| Year | Legislation |
| 2016 | Resolution to prepare cost estimates for Public Bank Feasibility Study – Nov 2016 |
Mendocino
| Year | Legislation |
| 2014 | Resolution in Support of Public Banking in Mendocino County – Dec 2014 |
Colorado
| Year | Legislation |
| 2016 | Colorado Ballot Proposal #127 – Establishment of State-Owned Bank. This ballot proposal establishes a Colorado 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. |
Connecticut
| Year | Legislation |
| 2017 | H.B. 6522 Establishes a task force to examine issues concerning the creation of a state-wide bank in Connecticut. Failed Joint Favorable deadline 3/9/17. |
Delaware
No legislation to date.
District of Columbia
| Year | Legislation |
| 2018 | Public Bank Feasibility Study |
Florida
No legislation to date.
Georgia
No legislation to date.
Hawaii
Hawaii
| Year | Legislation |
| 2021 | HB 240 HD1 (2021) Status. A Bill for an Act Relating to a Bank of the State of Hawaii; Bank of the State of Hawaii Working Group; Establishes the bank of the State of Hawaii working group to propose legislation to establish a state-operated bank of the State of Hawaii. Appropriates funds. The working group shall submit a report of its findings and recommendations, including any proposed legislation, to the legislature by January 1, 2022. Effective 7/1/2050. |
| 2021 | HB 1103 (2021) Status. A Bill for an Act Relating to Public Banking; Implementation Board; State-Owned Bank; Financial Institutions; Establishes an implementation board to review, investigate, and study the feasibility of establishing a state-owned bank. Requires a report to the legislature prior to the regular session of 2022 |
| 2020 | HB 2628 Passes final House committee 2/25/20 Directs the Department of Commerce and Consumer Affairs to conduct a comprehensive review of relevant state laws to develop legislation to establish a state-operated bank of the State of Hawaii. Appropriates funds to conduct the review. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 2011 | H.C.R. 200 Passed House 4/9/10 Requests the Legislative Reference Bureau to study the feasibility of establishing a state-owned bank. |
Idaho
| Year | Legislation |
| 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
| Year | Legislation |
| 2017 | H.B. 454 Creates the Community Bank of Illinois Act. |
| 2016 | H.B. 107 Creates the Community Bank of Illinois Act. |
| 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. |
| 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.B. 107 Creates the Community Bank of Illinois Act. |
| 2014 | H.B. 7 Creates the Community Bank of Illinois Act. |
| 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. |
| 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.B. 7 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. |
| 2012 | H.B. 2064 Creates the Community Bank of Illinois Act. |
| 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. |
| 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. |
Indiana
No legislation to date.
Iowa
No legislation to date.
Kansas
No legislation to date.
Kentucky
No legislation to date.
Louisiana
| Year | Legislation |
| 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. |
| 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. |
Maine
| Year | Legislation |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
Maryland
| Year | Legislation |
| 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. |
| 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. |
| 2012 | H.B. 1258 Establishes the Maryland State Bank Task Force to review and evaluate the creation of a Maryland State Bank. |
| 2011 | S.B. 789 Establishes the Maryland State Bank Commission to review and evaluate the creation of a Maryland State Bank. |
| 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. |
Massachusetts
| Year | Legislation |
| 2023 | HD.2677 and SD.1589 An Act to establish a Massachusetts public bank. There shall be a Massachusetts public bank (the Bank), wholly owned by the commonwealth, to provide a safe depository for a portion of the public funds in the commonwealth and to support the economic well-being of the commonwealth, its cities and towns, its residents, its businesses and its state and municipal institutions, with an accountable and responsive governance structure that ensures community input. |
| 2021 | S.665 (formerly SD1712), H.1223 (formerly HD 3247) (2021) An Act to establish a Massachusetts public bank. Fact sheet. |
| 2019 | S.B. 579 Act establishing the Massachusetts Infrastructure Bank. |
| 2019 | H.B. 935 Act establishing the Massachusetts Infrastructure Bank. |
| 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 |
| 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. |
| 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. |
| 2012 | H.B. 1192 Creates the Bank of Massachusetts. |
| 2011 | H.B. 1192 Creates the Bank of Massachusetts. |
| 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. |
| 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. 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. 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. 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. |
Michigan
| Year | Legislation |
| 2018 | HJR CC Allowing the deposit of state money in the Bank of Michigan – 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 | HB5433 Accounting concerning 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 | HB5431 The Bank of Michigan Act – Referred to Committee on Regulatory Reform – Jan 2018 |
| 2016 | H.J.R. RR Proposes a constitutional amendment to allow the deposit of state money in the community bank of Michigan. |
| 2016 | H.B. 5836 Authorizes loans to eligible municipalities by state-owned bank. |
| 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. 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. 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. |
Minnesota
| Year | Legislation |
| 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
| Year | Legislation |
| 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. |
Missouri
Montana
| Year | Legislation |
| 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. |
| 2013 | a href=”http://data.opi.mt.gov/bills/2013/billhtml/HB0474.htm”>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. |
| 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. |
| 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. |
Nebraska
No legislation to date.
Nevada
| Year | Legislation |
| 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
| Year | Legislation |
| 2023 | HB 648-FN AN ACT relative to establishing a state bank of New Hampshire. On behalf of PBI, Chair Ellen Brown submitted written testimony Feb 7, 2023 in support. The Commerce and Consumer Affairs Committee determined the bill was “Inexpedient to Legislate” on March 8. 18-1. (Report p5) |
| 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. |
| 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. |
| 2012 | H.B. 1691 Failed to pass House 3/8/12 This bill establishes a state bank. |
| 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. |
| 2011 | H.B. 430 This bill establishes a committee to study the feasibility of establishing a state development bank in New Hampshire. |
New Jersey
| Year | Legislation |
| 2019 | E.O. 91 Executive Order establishing a Public Bank Implementation Board tasked with developing an implementation plan for a public bank within one year. |
| 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
| Year | Legislation |
| 2022 | HB 75 Public Banking Act |
| 2021 | SB 313, HB 236 An Act Relating to Public Finance; Enacting the Public Banking Act; Creating the Public Bank of New Mexico |
| 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. |
| 2017 | Resolution requesting a report from the Finance Dept and the creation of a Public Bank Task Force – April 2017 |
| 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. |
| 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. |
| 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. |
New York
| Year | Legislation |
| 2023 | S1754 and A3352 Establishes the “New York public banking act”; authorizes municipal and other local governments to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities. |
| 2023 | S1756 and A2536 Establishes the state of New York public bank. Relates to establishing the state of New York public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. |
| 2022 | A 8857 (2022) Establishes the state of New York public bank. 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. |
| 2021 | S 1055 (2021) Relates to establishing the state of New York public bank to use the state’s depository assets to generate additional benefit for the people and the economy of the state. |
| 2021 | Senate Bill S 1762A, Assembly Bill A8290 (2021) Relates to establishing the New York Public Banking Act. This bill would establish the New York Public Banking Act to create a safe and appropriate regulatory framework for cities and counties seeking to establish public banks. The bill additionally would allow the Department of Financial Services (DFS) to issue special-purpose public bank charters. |
| 2020 | S 5565D (2020) Amendment D. Relates to the establishment of public banks in the State of New York. |
| 2019 | S 6792 (2019) Establishes the empire state inclusive value ledger establishment and administration act to create a master account and system of individual wallets to make and receive payments to state entities and residents of the state. |
| 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. |
| 2019 | S 5565 (2019) (2019) Relates to the establishment of public banks in the State of New York. |
| 2019 | A 8686 (2019) Establishes the empire state inclusive value ledger establishment and administration act to create a master account and system of individual wallets to make and receive payments to state entities and residents of the state. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
North Carolina
| Year | Legislation |
| 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. |
| 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. |
North Dakota
Several sections of the North Dakota Century Code address the creation of the Bank of North Dakota (BND), its oversight and role in the state. Today, the North Dakota Legislature appropriates funds from BND when needed through the budget process or state law.
Ohio
No legislation to date.
Oklahoma
No legislation to date.
Oregon
| Year | Legislation |
| 2023 | HB 2763 Establishes State Public Bank Task Force. Directs task force to study and make recommendations regarding establishment of state public bank. Requires task force to submit report to committee of Legislative Assembly by January 31, 2024. Passed both Houses. Vetoed by the Governor. |
| 2023 | SB 501 Establishes Bank of the State of Oregon. Specifies purposes of bank. Establishes Bank of the State of Oregon Board to operate and manage bank. Creates advisory board of directors to advise bank board and management on operation of bank. Requires bank to accept deposits of public funds and permits bank to accept deposits of other funds. Permits bank to make, purchase, guarantee or hold certain loans and to serve as custodian bank. Specifies other powers. Directs State Treasurer to deposit moneys in bank in amount treasurer determines is necessary to allow bank to fulfill duties. |
| 2022 | HJR 205 Proposes amendment to Oregon Constitution to specify that section restricting certain banks does not prohibit establishment of bank owned or operated by State of Oregon. Refers proposed amendment to people for their approval or rejection at next regular general election. |
| 2021 | SB 339 Establishes Bank of the State of Oregon. Specifies purposes of bank. Establishes Bank of the State of Oregon Board to operate and manage bank. Creates advisory board of directors to advise bank board and management on operation of bank. |
| 2021 | HB 2743 Provides that local government may not become stockholder in or loan credit to or in aid of municipal bank. Provides that municipal bank is not required to obtain deposit insurance from Federal Deposit Insurance Corporation under certain conditions. Provides that municipal bank may act as depository or custodian of public funds under certain conditions. This bill has been introduced at the request of the Oregon Public Bank Alliance. |
| 2021 | SJR 22 / HJR 3 Proposes amendment to Oregon Constitution to specify that section restricting certain banks does not prohibit establishment of bank owned or operated by State of Oregon. Refers proposed amendment to people for their approval or rejection at next regular general election. |
| 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
Pennsylvania
| Year | Legislation |
| 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
| Year | Legislation |
| 2021 | 210956 Signifying the intention of the City of Philadelphia to organize the Philadelphia Public Financial Authority pursuant to authority established under state law, and amending Chapters 20-600 (“Standards of Conduct and Ethics”), 20-1200 (“Lobbying”), and 17-1400 (“Non-Competitively Bid Contracts; Financial Assistance”) of The Philadelphia Code to address ethics, contractual and other requirements applicable to the Philadelphia Public Financial Authority, all under certain terms and conditions. Summary of bill. |
| 2021 | Bill 210005 Signifying the intention of the City of Philadelphia to organize the Philadelphia Public Banking Authority pursuant to authority established under state law, under certain terms and conditions. |
| 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. |
Puerto Rico
No legislation to date.
Rhode Island
| Year | Legislation |
| 2015 | H.B. 6024 Establishes a state bank. |
| 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. |
South Carolina
| Year | Legislation |
| 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
No legislation to date.
Tennessee
No legislation to date.
Texas
No legislation to date.
Utah
No legislation to date.
Vermont
| Year | Legislation |
| 2017 | S.B. 48 Text of bill. This bill proposes to create the Commission on the State Bank of Vermont. |
| 2017 | H.B. 208 Text of bill. This bill proposes to create the Commission on the State Bank of Vermont. |
| 2014 | Act 199, sections 22-25 Vermont State Treasurer; Credit Facility for Local Investments; Treasurer’s Local Investment Advisory Committee Sec. 23 authorizes the Treasurer to establish a credit facility of up to 10 percent of the State’s average cash balance on terms acceptable to the Treasurer consistent with the provisions of the Uniform Prudent Investor Act, 14A V.S.A. chapter 9. Sec. 24 creates the Treasurer’s Local Investment Advisory Committee to advise the Treasurer on funding priorities for credit facilities authorized by current law and to address other mechanisms to increase local investment.Sec. 25 sunsets Secs. 23–24 on July 1, 2015. Passed. Renewed annually until 2018. |
| 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. Part 3 passed, led to Act 199. |
| 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. Part 3 passed, led to Act 199. |
| 2012 | S.B. 204 Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank. |
| 2012 | H.B. 542 Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank. |
Virginia
| Year | Legislation |
| 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. |
| 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. |
Washington
| Year | Legislation |
| 2023 | SB 5509 Creating the Washington state public infrastructure bank. |
| 2021 | SB 5188 (2021) Concerning the creation of the Washington state public bank. |
| 2018 | SB 6032 Supplemental appropriations bill that includes funds to develop a business plan for a public cooperative bank – Passed legislature – Mar 2018 |
| 2018 | SB 6375 An Act developing a publicly owned depository business plan – Referred to Ways & Means Committee – Jan 2018 |
| 2017 | Proviso in the State’s 2017-2019 Operating Budget to create an Infrastructure and Public Depository Task Force – June 2017 |
| 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. |
| 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. |
| 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. |
| 2012 | .B. 6310 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. |
| 2011 | H.B. 1320 Establishes the Washington Investment Trust. |
| 2011 | S.B. 5238 Establishes the Washington Investment Trust. |
| 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. |
West Virginia
| Year | Legislation |
| 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. |
| 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. |
| 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. |
Wisconsin
No legislation to date.
Wyoming
No legislation to date.