Dear Friends and Neighbors,
The short, 60-day legislative session got off to a strong start last week, with House Democrats continuing our focus on policies to address the urgent needs of our state. With the Omicron variant surging in our state, legislators made the difficult decision to meet in virtual session for a second year. Click here to learn how you can participate in this virtual session.
Like last session, you can expect to see legislation advancing racial equity and justice in our state, as well as efforts to address the climate crisis we all face together. These themes will continue to be priorities in future sessions as well, because they are complex issues requiring ongoing commitment and work.
Additionally, as we move forward and continue reopening from pandemic-related shutdowns – while supporting public health measures like vaccines and masking – House Democrats will be championing bills strengthening economic well-being for people and communities, and ensuring our state serves people better.
Keep reading to learn about two pieces of legislation that I am working on this year to strengthen economic well-being and help ensure access to important financial services.
Thank you,
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Modernizing the Washington Credit Union Act for the 21st century
As consumers, many of us use various types of institutions to meet our financial services needs. These institutions and financial products change and evolve with technology over the years, and leading types of institutions have ranged from brick-and-mortar organizations like savings & loans and national banks to credit unions and community banks. Now, increasingly, many people are turning to internet-based virtual banks with no physical storefronts.
Washington state is home to over 80 non-profit credit unions that are member-owned by the people of our state. Over time, we have worked in a bipartisan manner to maintain a modern state credit union charter that provides credit unions with the tools to be responsive to the needs of their members. It is now time to update this law again as we are seeing one of the most significant shifts in how people expect and demand to access personal financial services.
I introduced HB 1165 last year to better allow credit unions to invest in and partner with financial technology services organizations. This will help allow young people and people currently underserved and underbanked to access financial services where they are. Our proposal passed the House with a near-unanimous vote last year but didn’t make it all the way through the Senate. This issue remains timely and urgent, and I’m pleased to share that HB 1165 resumed it progress through the legislature last week. We’ll need to pass it off the virtual House floor over to the Senate again, and I look forward to engaging with senators to make sure we meet the needs and expectations of credit union members in our state.
Broadband infrastructure funding
I am partnering with the Public Works Board (PWB) on HB 1673 to promote the expansion of access to broadband internet in underserved areas. The PWB administers the Public Works Assistance Account to provide financial and technical assistance to local governments in addressing local infrastructure needs.
As it becomes increasingly difficult to live without access to high-speed internet, we need to recognize this challenge as an emergency. That’s why our bill seeks to expedite low-interest or interest-free loans or grants to eligible local government applicants for emergency public works broadband projects by cutting red tape that slows down the ability to quickly establish broadband internet in underserved areas.
Our bill passed the Community & Economic Development Committee last week, and I’m working hard to make sure it comes up for a vote by the full House soon.
Your guide to the 2022 legislative session
