WA People
BILL · 2015–16 SESSION

SB 5971: WA publicly owned trust

Establishing the Washington publicly owned trust in order to create a financing infrastructure to implement Initiative Measure No. 502 that complies with the United States attorney general's guidance letter of August 29, 2013, thereby providing resources for public infrastructure and other public purposes.

Summary

  • Specifies that the legislature intends the state to engage in the business of banking under the name of the Washington publicly owned trust with the mission of the trust being to act as the sole depository for in-state marijuana producers, processors, and retailers and to use taxable earnings from those deposits for the benefit of the people and economy of the state.

From the Bill Digest (SB 5971), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 13, 2015
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Bob Hasegawa (D-11)
Introduced
February 13, 2015 in the Senate
Last action
March 10, 2016

AN ACT Relating to establishing the Washington publicly owned trust in order to create a financing infrastructure to implement Initiative Measure No. 502 that complies with the United States attorney general's guidance letter of August 29, 2013, thereby providing resources for public infrastructure and other public purposes;

Sponsors

Prime sponsor: Bob Hasegawa (D-11)

4 co-sponsors (4 Democrats, 0 Republicans)

Maralyn Chase D-32Jeannie Darneille D-27Steve Conway D-29Senator D-46

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, reintroduced and retained in present status.
  4. By resolution, reintroduced and retained in present status.
  5. By resolution, reintroduced and retained in present status.
  6. First reading, referred to Financial Institutions & Insurance.

SB 5971 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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