Establishes a state-owned bank implementation board to explore creating a public financial institution.
The bill establishes a state-owned bank implementation board within the Department of Commerce and Consumer Affairs to explore the feasibility, costs, and benefits of creating a state-owned bank in Hawaii. The board will review models from other states and institutions, assess economic impacts, and submit a report to the legislature by 2027. The board will cease to exist on June 30, 2027. The legislative reference bureau will assist the board in preparing its findings and recommendations.
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