Bill > SB583

This bill establishes a comprehensive State Public Bank Task Force consisting of 19 members appointed by the Senate President, House Speaker, and Governor, representing diverse backgrounds including credit unions, community banks, cannabis businesses, agriculture, government, and labor. The task force's primary objective is to conduct an in-depth study on establishing a state public bank, exploring potential benefits and challenges across various sectors such as secondary loan markets, affordable housing, student loans, agricultural lending, green banking, infrastructure financing, and cannabis business financial services. The task force will examine potential governing structures, capitalization methods, and adhere to principles of public control, cost savings, and economic stimulation. By September 1, 2026, the task force is required to submit a final report with recommendations to the Legislative Assembly, including a proposed governance structure. The bill provides for member compensation, staff support from the Oregon Business Development Department, and the ability to seek grants. With an emergency clause, the task force will be created immediately, and its sections will be repealed on January 2, 2027, with an initial appropriation of $431,562 from the General Fund to support its work.

Business and Industry

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB583