Creating the Washington state public bank.

SB 5754 proposes creating a Washington State Public Bank modeled after North Dakota's bank, which would use state deposits to leverage infrastructure financing without new taxes or bonds. The bill would allow the state to hold reserves in this public bank, applying standard banking practice (keeping 10% in reserve) to generate up to 10 times the loan capacity - turning $1 billion in deposits into $10 billion for projects like roads or housing. This would replace costly bond financing (e.g., avoiding $10 billion in 20-year bond costs for $5 billion in projects) by keeping capital within Washington to fund public needs and generate profits for the state. The bank would directly affect state infrastructure projects and local communities by lowering borrowing costs and redirecting funds from private banks to public benefit.