Infrastructure & Public Depository Task Force
On June 30th 2017 the Legislature adopted a 2017-2019 Operating Budget. The budget contained a proviso within the State Treasurer’s appropriation requiring that the Treasurer “establish a task force on public infrastructure and a publicly-owned depository.” The task force is charged with examining the scope of financial needs for local governments for constructing public infrastructure; the feasibility of creating a publicly-owned depository to facilitate investment in, and financing of, public infrastructure systems that will increase public health and safety, and leverage the financial capital and resources of Washington state by working in partnership with financial institutions that benefit local communities, or with community-based organizations, economic development organizations, local governments, guaranty agencies, and other stakeholder groups to create jobs and economic opportunities within our state for public benefit. ) The task force will report any recommendations identified by the task force that involve statutory changes, funding recommendations, or administrative action to the legislature as draft legislation by December 1, 2017
The task force consists of one member from each of the two largest caucuses of the senate appointed by the president of the senate; one member from each of the two largest caucuses of the house of representatives appointed by the speaker of the house of representatives; members representing a small sized state-chartered bank, a medium sized state-chartered bank, a federally chartered bank, local governments, and four citizens with a background in financial issues or public infrastructure selected by the president of the senate and the speaker of the house of representatives; and the attorney general, the state auditor, the treasurer, and the governor, or their designees.
The following appointees now serve on the Infrastructure & Public Depository Task Force:
TRE: Brad Hendrickson (Policy & Legislative Dir.) – Chair
GOV: Scott Merriman (OFM Legislative Liaison) – Vice Chair
AUD: Scott Nelson (Dir. Legislative/Policy Affairs)
ATG: Darwin Roberts (Deputy AG)
SDC: Patty Kuderer (Senator – 48th District)
SRC: Jan Angel (Senator – 26th District)
HDC: Steve Kirby (Representative – 29th District)
HRC: Mike Volz (Representative – 6th District)
BKL: Jennifer Lawson (US Bank)
BKM: Alan Crain (Kitsap Bank)
BKS: Denise Portmann (Bank of the Pacific)
LGV: Kate Dean (Jefferson County Commissioner)
CIT1: John Comerford (Pension Consultant)
CIT2: Bill Longbrake (SIB / Robert Smith School of Bus.)
CIT3: Yona Makowski (SIB / HDC – retired)
CIT4: Becky Thompson (WSAC Financial Assistance Dir.)
Task Force Proviso
2011 Infrastructure Funding Task Force
Studies & White Papers
- Issue Paper: Creating a Public Bank for King County, March 14, 2016.
- Hawaii State Bank White Paper, January, 2012.
- Report of the Commission to Study the Feasibility of Establishing a Bank Owned By The Commonwealth, August 8, 2011.
- Maine State Bank Analysis, May, 2011.
- Demos State Bank Paper, April, 2011.
- Washington State Bank Analysis, December 2010.
- Oregon State Bank Analysis, December, 2010.
- Vermont Review of Adopting a State Owned Bank, January, 2010.
- NAF Public Option The Case for Parallel Public Banking Institutions, June, 2011.
- NEPPC The Bank of ND-A Model for MA and Other States, May, 2011.
- Washington State Legislature Public Bank Legislation 2010-2017.
- 2010-2017 Legislation to Create State Owned Financial Institutions, May 25, 2017.
- Fiscal Notes
- SB-0660.1, Establishing the Washington investment trust.
- HB 3162, Creation of a state bank.
- HB 1320, Washington investment trust.
- HB 2434, Washington investment trust.
- SB 6310, Washington investment trust.
- SB 5029, Washington investment trust.
- SB 5955, Washington publicly owned trust.
- SB 5464, Washington investment trust.
- HB 2059, Washington investment trust.
- Public Banking Institute, July 2017.
- 2017 OST Operations PowerPoint for IPDTF Meeting.
- 2017 OST Investments PowerPoint for IPDTF Meeting.
- Infrastructure Public Depository Task Force — Debt PowerPoint.
- DFI Presentation on Regulation and Supervision Oct 2017.