WA SB5754

Establishes the Washington State Public Bank as a state-owned depository institution to serve as the primary depository for state tax revenue and funds currently held at private financial institutions

Governed by a nine-member board including five local/tribal government officials, three governor-appointed public directors, and the state treasurer as ex officio member, with the state finance committee serving as oversight board

Authorizes the bank to make loans to state, local, and tribal governments for infrastructure projects including roads, bridges, water systems, schools, housing, transportation, and economic development

Uses fractional reserve banking (10% reserve standard) to leverage state deposits into greater lending capacity, with the goal of reducing reliance on bond financing that the bill estimates can double infrastructure costs through interest payments

Requires prioritization of investments that increase public housing supply, and explicitly prohibits the bank from creating state debt or operating as a traditional bank under federal or state banking regulators' jurisdiction