By Taxpayer Association of Oregon
SB 339 creates a Bank of the State of Oregon.
It reads, “Establishes Bank of the State of Oregon. Specifies purposes of bank. Establishes Bank of the State of Oregon Board to operate and manage bank. Creates advisory board of directors to advise bank board and management on operation of bank…Specifies that deposits of bank are guaranteed by state and that income bank earns on public funds is not subject to taxation.”
I wonder how a State Government that is $26 billion in the red on their PERS Public Employee Pension funds, would be on managing their own bank?
North Dakota has had a state bank since 1919 and other states like Oklahoma and California have various versions.
We will follow developments.
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