SB 5949, sponsored by Sen. Bob Hasegawa (D–Beacon Hill), creating a state bank failed to move out of committee by the policy bill cutoff. The major sticking points of the banking bill are costs, whose money will be used to capitalize, risk, and leadership. During the public hearing on the bill, the sponsor indicated an interest in continuing to work on the concept in the next session.
There have recently been three studies or reports released on the concept of a state or public bank.