Priority Legislation Advances with Bipartisan Support
Posted by Ben Shuey on January 28, 2021
One week after a bill updating the state Credit Union Act was unanimously approved by a House committee, legislation allowing credit unions to accept unlimited public deposits statewide was today approved by a Senate Committee with bipartisan support.
Senate Bill 5106 was brought up for a vote in the Senate Business, Financial Services, and Trade Committee under the leadership of committee chair Senator Mark Mullet, D-Issaquah, which gained support from three Democrats and three Republicans.
The next main step for public deposits legislation is a vote by the full Senate, which advocates are already working to schedule with the bill’s sponsor Sen. Marko Liias, D-Lynnwood, who is also the Senate Majority Floor Leader.
HB 1165, updating the state charter, is also nearing a floor vote in the House with the Speaker of the House indicating action could come soon.
This all comes by day 18 of this year’s 105-day session, 19 days ahead of the deadline for bills to pass a policy committee in order to remain eligible for further consideration.