Entries by ost_admin


Linked Deposit Legislation Headed to the Governor’s Desk

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 […]

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WA529 GET College Savings Plan Gets More Affordable

At this week’s special WA529 Committee meeting, Washington State Treasurer Mike Pellicciotti supported lowering the 2020-2021 Washington State GET unit price from $133 to $122. The WA529 GET program provides families with the opportunity to purchase prepaid college tuition credits and save for future higher education expenses. Participants in the program will get the same amount of […]

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Statement from State Treasurer Mike Pellicciotti on State Pension Funding in Today’s Budget

It is a priority for State Treasurer Mike Pellicciotti that Washington remain on track to fully fund our state pension obligations. Today the Governor signed the legislature’s budget that appropriates $800 million in state funds to reduce the amount of unfunded actuarial accrued liability in the Teachers’ Retirement System plan 1 fund on June 30, 2023. “The people of […]

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State Treasurer Pellicciotti Calls for Legal Cannabis Banking

State Treasurer Mike Pellicciotti today called on the U.S. Senate to pass HR 1996, the SAFE Banking Act of 2021, after it passed the U.S. House of Representatives today. Pellicciotti continues his advocacy on behalf of Washington State so that legal cannabis businesses operating in Washington State can finally use banks and other financial institutions, […]

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Statement from Treasurer Pellicciotti on the American Rescue Plan

State Treasurer Mike Pellicciotti offered the following statement on President Joe Biden signing the American Rescue Plan into law today. Pellicciotti joined with 16 other state treasurers last month to call on Congress to pass this legislation. “I have partnered with state treasurers around the country to advocate that Congress pass the American Rescue Plan, […]

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Treasurer Pellicciotti Puts Forward Bill to Better Connect Washingtonians with their Lost Property

State Treasurer Mike Pellicciotti proposed legislation today to better connect people with their lost property and to promote public awareness of unclaimed property in Washington. Over a billion dollars in unclaimed property has been turned into the state since records began in 1955. One in seven Washingtonians currently have unclaimed money sitting in the state […]

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Treasurer’s Office Awarded Certificate of Excellence in Citizen-Centric Reporting

The Washington Office of the State Treasurer is proud to announce that it is the recipient of the 2020 Association of Government Accountants’ (AGA) Certificate of Excellence in Citizen-Centric Reporting (CCR). The AGA, a member organization for government financial management professionals, launched their CCR initiative to simplify communication between governments and their citizens. Intended to […]

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Municipal Bond Market Favors Washington in Bond Sale

On Tuesday, the Washington State Treasurer’s Office sold $105 million dollars of refunding bonds to refinance $113 million of prior issued debt. The refinancing resulted in over $11 million dollars in debt service savings for the state. Treasurer Duane Davidson applauded the sale as a success. “The COVID-19 pandemic has put many state resources in […]

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Financing Takes Advantage of Low Rates to Save the State Millions

Olympia, WA – This week, the Office of the State Treasurer sold $75,190,000 million in Certificates of Participation (COP) in a competitive sale. Wednesday’s COP sale attracted strong interest, with bids from 10 institutions. Citigroup Global Markets Inc. submitted the winning bid, with the lowest true interest cost of 2.1189%. The COP sale took advantage of […]