Ms. Soinette — Invited to come forward for the J-LARC presentation; name may be mis-transcribed.
Ms. Sineat — Invited to come forward for the J-LARC presentation; name may be mis-transcribed.
Pete Mann-Morsal — Invited to come forward for the J-LARC presentation; name may be mis-transcribed.
Eric Whitaker — Eric Whitaker is introduced as part of the J-LARC presentation and invited to come forward, with a second mention identifying him as a colleague presenting with J-LARC.
Aline Mazzona — Introduced herself and identified the J-LARC team presenting the 2025 tax preference performance reviews.
Jeff Conningham — Named as a colleague presenting with J-LARC; likely transcription error for Jeff Cunningham.
Pete von Morsell — Named as a colleague presenting with J-LARC; likely transcription error for Pete von Morsel/Mann-Morsal.
Noel Frame — Asked whether reduced earnings and market share shifts could explain the trend toward larger companies.
Steve Conway — Comments that the industry may be consolidating and larger travel agents may be increasing while smaller ones decrease.
Steve Conway — Steve Conway asks how banks make money from deposits and whether a public bank similarly invests and manages deposited funds to maximize returns. He then follows up by asking whether North Dakota has a comparable state investment board structure.
Steve Conway — Raised a follow-up point about how the Bank of North Dakota holds and uses state money before public testimony begins.
Steve Conway — Allen thanks Senator Conway for leadership on the bill.
Habitat for Humanity representatives — Explained that their financial reporting practices may not align with the annual measurement used for evaluation.
Trinity Tran — Introduces herself as executive director of the California Public Banking Alliance and begins an overview of public banking.
Dave Jetty — Introduces himself as legislative director of Public Bank Los Angeles and a volunteer organizer with the California Public Bank Alliance.
Derek Stanford — Asked for clarification on how public bank deposits can be leveraged into community lending.
Derek Stanford — Addressed as 'Senator Stanford' in the preceding exchange and part of the legislative audience for the explanation.
Don Morgan — Don Morgan, CEO and president of the Bank of North Dakota, responds to questions by explaining how the state-owned bank operates as a public bank. He describes how tax revenue and state deposits are held by the bank, leveraged through capital and participation lending, and partnered with 91 community banks and credit unions to expand lending while keeping funds liquid for state use. He emphasizes that the bank’s mission is centered on risk management and liquidity because it borrows and manages the operating funds of the state, and contrasts that mission with the Legacy Fund/state investment board, which is focused on long-term returns rather than liquidity.
Bob Hasegawa — Asked how the North Dakota Bankers Association feels about the Bank of North Dakota.
Bob Hasegawa — Thanked the witness for sharing expertise with the Ways and Means Committee.
Bob Hasegawa — Senator Hasegawa is referenced in a continuing public banking discussion: first in connection with a question about whether constitutional restrictions would limit holding state funds in a public bank, then as the source of that constitutional inquiry, and finally in a supportive exchange agreeing that public banking is timely and ready.
Bob Hasegawa — Allen thanks Senator Hasegawa for his leadership on the bill.
SB5754 — Bill creating a state bank; introduced in the staff briefing.
SB5754 — Multiple speakers express strong support for Senate Bill 5754, describing it as legislation to create a Washington State Public Bank. They frame the bill as a public banking partnership model that would keep public dollars in Washington, reduce borrowing costs and fees, and help finance infrastructure and local economic development without replacing private banks.
SB5754 — Public testimony on Senate Bill 5754 is presented by multiple speakers. Supporters describe it as a public banking measure that would improve stewardship of public dollars, strengthen local and tribal governments’ ability to finance infrastructure, lower capital costs, and expand bonding capacity without raising taxes. Other speakers testify in favor and urge the committee to move the bill or give it a due pass. An opposing witness argues the bill creates unnecessary risk for public funds, citing concerns about safety, liquidity, governance, capitalization, and loss of local control, while acknowledging the bill’s intent. The segment ends with additional support for passage and the chair closing public testimony.
Superintendent Rake-Dall — Introduced as one of the statewide elected officials coming forward to begin public testimony; name appears to be a transcription error for Superintendent Reykdal.
Commissioner Kuderer — Introduced as one of the statewide elected officials coming forward to begin public testimony.
Chris Rakedale — Identified himself as State Superintendent and spoke in support of public banking, citing North Dakota as a model.
Chris Gildon — Addressed as ranking member of the committee.
Chris Gildon — Paula addresses him as Ranking Member Gildon.
Patty Kuderer — Washington State Insurance Commissioner testified in support of Senate Bill 5754 and described prior work on creating a public bank.
Brian Sullivan — Brian Sullivan, the county treasurer, is introduced as the next witness and then begins his testimony, identifying himself as the Slomish County Treasurer and stating that he is there to support the Senate bill.
Brian Sullivan, Snohomish County Treasurer — Testified in support of Senate Bill 5754 and described public banking as a tool to address infrastructure and financing needs.
Executive Sidhu — Introduced as the next remote testifier.
Satpal Sidhu, Whatcom County Executive — Testified in favor of Senate Bill 5754 and supported creating a public bank in Washington State.
Thomas McLeod, Mayor of Tukwila — Testified in support of Senate Bill 5754 and identified himself as mayor of Tukwila and a retired tax accountant.
Armin Papian, Council Member and Council President for the City of Tukwila — Testified in favor of a state bank and argued it would benefit cities and keep public money local.
John Traynor — John Traynor is called forward and then testifies on behalf of the Washington State Labor Council, representing over 600 affiliated local unions, in support of the public banking concept and SB 5754.
Tioko Sukuda — Announced as the next person to hear from, likely a mis-transcription of a witness name.
Toyoko Skuda — Testified in support of SB 5754 and said a public bank would strengthen public finances during economic uncertainty.
HB2072 — House Bill 2072, introduced in 2020 by Representative Mike Wolf of Spokane, allowed county treasurers to contract together for financial services and later passed unanimously in both the House and Senate.
SB5754 — SB 5754 was repeatedly supported as the bill to create the Washington State Public Bank. The discussion emphasized the public banking concept and urged the committee to vote yes and move the bill forward to the Senate floor.
SB5754 — During the hearing on SB 5754, Benjamin Steele testifies in favor of the bill, and Andre Stackhouse follows by referencing the hearing and urging the committee to advance the bill to the floor post-haste.
Marco Rossi — Called to come forward to testify.
Wayne Lau — Wayne Lau is introduced as the next Zoom witness and then begins his testimony by identifying himself as a Seattle resident of 70 years with extensive commercial banking and lending experience, including work at a community bank and Rainier Valley CDFI.
Glenn Gregory — Glenn Gregory is announced as the next online testifier, and then he begins his testimony by introducing himself as the president of Obscity Investment Advisors in Redmond, Washington, and describing his financial and advisory background.
Mark Rosary — Identified himself as executive director of Washington for Public Banking and said the organization has researched the constitutionality and legality of a public bank.
Paula Sardinas — Announced as a forthcoming testifier.
Brad — Asked to come forward and be ready to testify after the online speakers.
Paula Fillmore Sardinas — Paula Fillmore Sardinas, President and CEO of FMS Global Strategies and a leader with WDPA and the Green Capital Fund, testifies in support of the bill. She says her banking and regulatory experience informs her view that the bill is about power, access, and who benefits from public dollars, arguing that public banking would direct resources toward communities, tribes, and local governments. She cites studies and reports indicating that a state bank would work in Washington and concludes by urging the committee to pass the bill out of committee after more than 10 years of hearings.