Description of Washington Investment Trust (HB 2434 & SB 5938)

• Creates the Washington investment trust as a legacy institution that amasses sufficient capital reserves to address opportunities now and in the future.
• Creates the Washington investment trust commission as the primary governing authority of the trust. 
•  Creates the trust transition board and the investment trust advisory board.
• Exempts the trust from payment of all fees and taxes levied by the state or any of its subdivisions.

Port Townsend Petition

We the undersigned citizens of Port Townsend and Jefferson County petition you to protect our right to know about safety risks associated with the West Coast’s major weapons transfer depot NavMag Indian Island by specifically objecting to the National Defense Authorization Act Section 1014: Treatment under Freedom of Information Act of Certain Department of Defense Critical Infrastructure Information.

The Department of Defense is attempting to nullify the outcome of a recent U.S. Supreme Court decision, Milner v. Navy, decided on March 7, 2011.   The 8-1 decision by the Supreme Court addressed whether the Navy could withhold specific explosives information at NAVMAG Indian Island.  Explosives Safety Quantity Distance (ESQD) arc information is used for safety purposes.  The Navy released this same type of information for the Trident submarine base at Bangor, Washington. 

The Navy would like Congress to pass Section 1014 for two specific reasons involving NAVMAG Indian Island:

1. The Navy increased the amount of explosives at the explosives handling wharf by 33 percent in order to accommodate a larger type of container ship. If the Navy is out of compliance with rules regarding safe distances for explosive handling we have a right to know.

2. In the case of a burning ammunition ship the Navy’s plan is to tow the ship to a scuttling area near the center of Port Townsend Bay and sink the ship before it explodes. NMII is located a little more than two miles across open water from Port Townsend and a little more than a mile across open water from Port Hadlock and Irondale. How safe are we, our hospital, and our homes?

NAME                                     SIGNATURE                          ADDRESS

Port Townsend residents and other concerned citizens have been attempting to obtain documents from the Navy regarding safety risks associated with the weapons transfer depot at Indian Island.  Recently, they won a Supreme Court decision but the Navy has inserted into the Defense Authorization Act language that would nullify citizen access to this information.  The House has passed this bill and it is now pending in the Senate  The Navy may be out of compliance with rules regarding safe distances for explosive handling but if this bill is enacted into law citizens will be unable to document this.  A petition is being circulated to elected officials and the matter will be before the Jefferson County Commissioners this coming Tuesday, July 5 at 9AM at the Jefferson County Courthouse in Port Townsend. Congressional action is expected in early August. 

The petition is being circulated at the Port Townsend Co-op, Saturday Farmers' Market, and other venues in the area and copies are
 available from Doug Milholland of Port Townsend Friends.

Support a Coal-Free Future for Washington - 4/13/2011

Support a Coal-Free Future for Washington

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Local Responses to Global Challenges - March 12, 2011

Supporters and opponents of 2SSB 5769 that required termination of coal fired electrical power generation reached a compromise that supported a vote in the Senate to pass the bill. Click here for more information...  E2SSB 5769 has now been scheduled for a hearing in the House Environment Committee on March 15^th.

Action: Call members of the House Environment Committee and urge them to schedule E2SSB 5769 for Executive Action and to vote the bill out of committee with a referral to House Rules Committee.  Link to list of House Environment Committee members.

Local Responses to Global Challenges: increased opportunities and Clean Air - 3/1/2011

When coal is burned, reports Howard Frumkin, dean of the University of Washington School of Public Health, “the health risks pile up. Air pollutants such as oxides of sulfur and nitrogen threaten cardiac and respiratory health. Tiny particles – some that rise directly from the smokestacks, others that form in the air from combustion products – penetrate deeply into people’s lungs, triggering heart disease deaths. Toxic components of coal such as mercury settle onto land and in waterways, enter the food chain and damage people’s nervous systems” (Seattle Times, 2/17/11). 2SSB 5769 amends earlier versions of the bill to require TransAlta to phase in emission reductions to meet a defined “emissions performance standard” no sooner than 2020 and no later than 2025.

Action: Call members of the Senate Rules Committee and request they pull 2SSB 5769.

Representative Hasegawa was overheard reminding people this week that no bill is truly dead in the legislature until the session has ended. Although neither HB 1320 nor SB 5238—Washington Investment Trust—were voted out of committee, Representative Hasegawa hopes to find a way to keep the bills alive.

Environmental Issue for Lobby Day - 2/21/2011

Coal-free Future for Washington.  SB 5769 would phase out Washington's single largest source of dangerous & toxic pollution, the TransAlta, the state's only coal-fired power plant.  The proposed bill will address concerns about the health impacts of coal, climate change, and air and water pollution caused by the plant's emissions.  The bill (prime sponsored by Sen. Rockefeller) was approved by the Senate Environment Committee 2/18 and referred to the Senate Ways and Means.

Local Responses to Global Challenges: Increased opportunities for Clean Air - Feb 11

Department of Ecology assertions the state is not doing enough to clean its air has potentially increased support for HB 1825 that would create a Coal Free Future for Washington by forcing TransAlta to quit burning coal by 2015, ten years earlier than currently required by an outstanding gubernatorial order. (For more details on the Department of Ecology report click here.)

Concerns remain about the impact terminating coal-fired power production will have on the Lewis County economy.

The 1:30 pm hearing scheduled for Tuesday, February 15^th in the House Environmental Committee has been confirmed. Friends, and friends of Friends can show support for HB 1825 by contacting House Environment Committee members. Click here for a list of committee members.

Members’ email addresses follow the following format: first name.last name@leg.wa.gov so that Environment Committee Chair Dave Upthegrove’s email address is dave.upthegrove@leg.wa.gov .

• Still no action on HB 1320 or SB 5238: Washington Investment Trust. The State Treasurer’s assertion the proposal would require lending of state credit and that that violates our state constitution seems to be the issue preventing a committee vote.

Local Responses to Global Challenges: Increased opportunities and Clean Air - Feb. 5

HB 1825 would create a Coal Free Future for Washington by forcing the only coal-fired power plant in our state, TransAlta, to quit burning coal by 2015, ten years earlier than currently required by an outstanding gubernatorial order. 

Electricity is produced by TransAlta in Centralia. The TransAlta plant emits 10 million metric tons of gasses/year: 10 percent of the state’s total greenhouse gas emissions. The plant emits 361 pounds of mercury. It is estimated that the TransAlta plant emits the same amount of carbon/year as is emitted by all the cars and trucks driven in King County, plus Yakima, Lincoln, Columbia, and Garfield Counties (Click here for more information).

Policy makers are also concerned about the impact terminating coal-fired power production will have on the Lewis County economy. This has inspired an effort to try to also pass legislation to create jobs.

A hearing on HB 1825 is tentatively scheduled for Tuesday, February 15^th in the House Environmental Committee. Check here to confirm hearing date and time.

Following hearings the previous week, there was no further action this week on HB 1320 or SB 5238, each of which would establish the Washington Investment Trust. Opponents to these companion bills claim they would violate the state constitution by lending the state’s credit; however, it was reported this week that commercial banks and credit unions that currently hold state deposits use these deposits when calculating how much capital they have to loan out. This is the same thing the Financial Investment Trust would do under HB 1320 and SB 5238, which brings into question assertions that the bills would violate the state constitution. These bills also need to be scheduled for Executive Action and voted out of committee to be considered further.

FCWPP Update for weeks of January 17-28, 2011

Updates on the following bills: HB 1086 - the 2011 Supplementary Operating Budget;HB 1320 / SB 5238 - WA Investment Trust; HB 1020 - Resume 50% of earned release time; HB 1063 - Periodic Review of juveniles sent to life without parole; SB 5236 - Review of 3-strikers; SB 5456 - Replaces death penalty with life without parole. Watch for new bills on Restorative Justice sponsored by Rep. Roger Goodman and Senator Nick Harper.

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Messages from Rep. Hasegawa on the Washington Investment Trust

Dear neighbors, 

I am excited about creating an opportunity for a bank that belongs to the people of WA State.  After months of hard work we have a bill that will create the Washington Investment Trust (WIT).  It is a simple concept that I believe will reap huge benefits for Washington State (I’ve attached a summary of the bill to this email).  We now have a bill in the House and a companion bill in the Senate.  H.B 1320 is posted online and you can see the full bill at this link.  The companion bill, S.B. 5238, is being sponsored by Sen. Margarita Prentice.  You can track the progress of the bills as they move through the committees at both of these sites. 

Here is the committee information for when the bills will be heard.

Financial Institutions, Housing & Insurance (Senate)

Tuesday, January 25^th, 10:00 a.m. – 12:00 p.m.

Senate Hearing Room 2

Business & Financial Services

Tuesday, January 25^th, 1:30 p.m. – 3:30 p.m.

House Hearing Room B

 As always please note that things can be re-arranged on the schedule at the last minute.  Feel free to call my office with any questions.

The concept:  keep taxpayers’ money working here in Washington to build our economy.  Currently, all tax revenues go into a “Concentration Account” held by the Bank of America.  BoA makes money off our money and we never see those profits again.  Instead, we can create our own institution and keep taxpayers’ dollars here in Washington, working for Washington.

I think this concept will also have the potential to bring huge benefits to our state.  Some of which include:  Increased access to capital--access to capital is small business’ #1 barrier to success/survival; Support students and schools; Infrastructure and capital projects; Housing development; Support local farms and farmers; Long term economic stabilizer to get us through tough times down the road; and the biggest benefit, not well understood by most, is that banks literally create money.  Following standard fractional reserve banking practices that all banks follow, the WIT can literally create money for Washington, up to 10X reserves, that we can use to stimulate development and our economy to build the envy of the U.S. because we have such a strong foundation to build upon.  From education to transportation, tourism to agriculture, energy to technology, we can build the finest economy and infrastructure in the country. 

The bill creates a Blue Ribbon Founding Task Force of finance experts to develop an operational plan for the WIT.  But, the WIT will not become operational until after the 2012 legislature passes trailer bills that will be recommended by the Task Force.  How much good WIT can do depends on how much we’re willing to capitalize the bank.  As it builds capital capacity over the years, it will become an invaluable resource for the state in weathering economic downturns. 

The Center for State Innovation has completed an analysis that looks at the impact a state bank could have specifically here in WA state.  It is full of information and is a good way to get some more background information on the potential a bank can have for WA State.  I’ve attached a copy of the report to this email as well. 

The more support we can build from folks like you…the better. We have to show that there is support for this concept from the people of WA State.  This is a non-partisan issue and we want to get support from everyone who thinks this has the potential to do good things for our state.  If you have networks, friends or family who think this is a good idea please spread the word.  If they can call or email their representatives that is great too. 

If you can come out to Olympia to testify in support for the bill that would be even better!  The more support we have for the bill the better.  If the bill is going to have a chance to get to the floor for a vote by the full House (and Senate) we have to be able to get it out of the committee first.   

Bob 

Bob Hasegawa
        Washington State Representative
        11th Legislative District
http://hdc.leg.wa.gov/members/hasegawa/
Hotline: 800/562.6000
Phone: 360/786.7862
Legislative Aide:  Marissa Chavez
Olympia Office:
        Mod B, Room 201
        P.O. Box 40600
        Olympia, WA 98504-0600
        360/786.7862

Updates on Washington Investment Trust

Jan. 30: HB 1320/SB 5238: Washington Investment Trust, sponsored (in the House) by Rep. Bob Hasegawa.  Set up state institution to hold state funds and lend to small business, farmers, students and others.  Hearings were held this past week in House Business and Finance Committee and Senate Financial Institutions Committee.  Oral testimony by FCWPP in both hearings.  Strong support provided by former executives of the State Bank of North Dakota, which has run successfully since 1919.  Opposed by the Washington State Treasurer, who claims that the Trust would be unconstitutional, that the current concentration bank that handles state funds now does a better and much less expensive job than the proposed state bank would do, and that self-insurance would be risky.  We are looking into these claims.

Jan. 25: The Washington Investment Trust (state bank) bill (H.B. 1320 & S.B. 5238) will be heard by both state Senate and House committees tomorrow, Jan. 26.  We hope you will read the excerpts from messages by the prime mover and sponsor of the bill in the House, Rep. Bob Hasegawa, and we encourage you to notify the committee members as well as your own legislators that you support the Washington Investment Trust. 

 Here’s a link to members of the Business & Financial Services Committee in the House, http://www.leg.wa.gov/House/Committees/BFS/Pages/MembersStaff.aspx, and a link to members of the Financial Institutions, Housing, and Insurance Committee in the Senate:   http://www.leg.wa.gov/Senate/Committees/FIHI/Pages/MembersStaff.aspx.

Public Policy Agenda 2011

Goals and Objectives for FCWPP's work in Criminal Justice, Local Responses to Global Challenges, and Economic Justice, including Health Care....

Help prevent rollback on clean energy!

In 2006, voters approved I-937 to guarantee that by 2020, 15% of the electricity from Washington's largest utilities comes from new renewable energy sources. But the special interests who oppose I-937 want to use this year's legislative session to undo its clean energy standards.

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Carbon cap & invest bill needs your help this week!

This week in Olympia, both the House and Senate are expected to vote on Cap and Invest, the Governor's climate change bill. The choice is clear: vote yes and move forward to reduce our state's global warming pollution and fossil fuel dependence or vote no and steer our state back down the dead-end road of inaction.

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Help Pass Transit Bill Now!

Next week is a critical week of the Legislative Session. The Transit-Oriented Communities bill (HB 1490) will be up for a House floor vote by Wednesday. House Bill 1490 would create affordable, walkable communities connected by transit for Washington's families and has strong support from both the Environmental Priorities Coalition and the Washington Low Income Housing Alliance.

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Efficiency First bill hearings next week

Join us in Olympia for a hearing on Efficiency First. A pair of hearings at the State Capitol on the Efficiency First bills will be held the first week of February. Members of the committees hearing these bills are listed below. The hearings will be held:

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BIG WEEK ON GLOBAL CHANGES

Global changes and their impacts on our state and communities are critical issues which FCWPP will be including in its legislative focus. This week is an important one, with four major bills before the legislature dealing with how we can build more sustainable communities . Climate change and fossil fuel energy peaking are real and demand serious responses at all levels. If you can make some calls or write some emails on these issues, this is an excellent time.

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Help Stop The Unnecessary, Expensive and Extreme Eco-terrorism Bill

Contact your senator, tell them that you are a constituent and that you think SB 6114 is too expensive, extreme and unnecessary, and urge them to oppose it. If you live in the districts of Senators Kline and Thibadeau, send them your thanks for opposing SB 6114 in the Judiciary committee.

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TRANSPORTATION CHOICES

We support incentives and increased funding for effective public transportation in order to: give people better access to employment, housing, health care, and education; conserve natural resources; preserve the integrity of local neighborhoods; reduce air pollution and traffic congestion; and increase accessibility for residents of low-income communities. Leaders from the House and Senate are in the process of negotiating a final Regional bill to send to the voters. But the House and Senate regional bills are at odds with each other in important ways, and must be reconciled before a final bill can be sent to the governor.

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