OLYMPIA – Legislation updating Washington’s Tax Increment Financing (TIF) program was signed into law today. House Bill 1527, requested by the Office of the State Treasurer (OST) and sponsored by Rep. Sharon Wylie (D-Vancouver), will expand eligible uses of this financing tool to spur infrastructure and economic development projects around the state. “In partnership with […]
OLYMPIA – The Office of the State Treasurer (OST) sold $828,715,000 in Various Purpose General Obligation Refunding Bonds and $514,350,000 in Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Refunding Bonds today, bringing the total net present value savings to the state generated by refinancings to a cumulative $484.8 million since 2021. State […]
OLYMPIA – State Treasurer Mike Pellicciotti reiterated the need to maintain state reserves and keep debt costs low following today’s meeting of the Washington State Economic and Revenue Forecast Council (ERFC). The latest ERFC report projected revenues would be down by just over $830 million through the end of Fiscal Year 2027 in the wake […]
The Office of the State Treasurer received strong demand from bidders in Wednesday’s competitive sale of $603.0 million of Various Purpose General Obligation Bonds and $90.2 million of Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Bonds thanks largely to Washington’s strong credit ratings. “I want to once again thank my talented team […]
OLYMPIA – State Treasurer Mike Pellicciotti and Prosperity Now Chief Executive Officer Gary Cunningham today announced a new partnership to review socioeconomic disparities in Washington state and the impact of wealth inequities on the lives of Washingtonians. “It’s clear that growing wealth gaps pose a significant challenge to the future of our state treasury in the […]
OLYMPIA – Since taking office, State Treasurer Mike Pellicciotti took advantage of low interest rates to refinance all state debt eligible for a tax-exempt refinancing under federal law, saving Washingtonians over $290 million in future debt service payments. Tomorrow (Tuesday, 4/26/22), the State Treasurer’s Office plans to refinance an additional $1.4 billion in previously issued […]
OLYMPIA – The Office of the State Treasurer has three pieces of request legislation and a key budget proviso headed to the Governor’s desk for enactment as the state Legislature concludes the 2022 session. The bills are as follows: Senate Bill 5787, sponsored by Sen. Joe Nguyen (D-White Center), modernizes the state’s Linked Deposit Program […]
Responding to the ongoing crisis in Ukraine, Washington State Treasurer Mike Pellicciotti today joined a bipartisan coalition of State Treasurers calling for all levels of government to end the practice of public investment into Russian holdings. “Americans must unify to oppose the authoritarian regimes that violently attack our shared democratic institutions and economic stability with […]
We, the undersigned State Treasurers, condemn Russia’s unprovoked and unjustified invasion of Ukraine. The Russian invasion is a threat to democratic freedoms and global stability and cannot be tolerated. State governments invest a significant amount of public funds with some invested in Russian-domiciled companies. Actions taken by states can help the people of Ukraine by […]
Request legislation from the Office of the State Treasurer to modernize Washington state’s Linked Deposit Program (LDP) passed out of the Washington House of Representatives Friday on a vote of 96-to-2. Sponsored by State Senator Joe Nguyen (D-White Center), Senate Bill 5787 will diversify depositing options to the LDP, which encourages lending to businesses certified […]
