Legislation updating Washington’s Tax Increment Financing (TIF) program was signed into law today. House Bill 1527, requested by the Office of the State Treasurer (OST) and sponsored by Rep. Sharon Wylie (D-Vancouver), will expand eligible uses of this financing tool to spur infrastructure and economic development projects around the state.

The Office of the State Treasurer (OST) sold $828,715,000 in Various Purpose General Obligation Refunding Bonds and $514,350,000 in Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Refunding Bonds today, bringing the total net present value savings to the state generated by refinancings to a cumulative $484.8 million since 2021.

State Treasurer Mike Pellicciotti reiterated the need to maintain state reserves and keep debt costs low following today’s meeting of the Washington State Economic and Revenue Forecast Council (ERFC).

Several municipalities serving communities across Washington have partnered with the Office of the State Treasurer (OST) to finance purchases for essential building upgrades and vehicles.

The Office of the State Treasurer received strong demand from bidders in Wednesday’s competitive sale of $603.0 million of Various Purpose General Obligation Bonds and $90.2 million of Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Bonds thanks largely to Washington’s strong credit ratings.

Request legislation from the Office of the State Treasurer to create the Washington Future Fund (WFF) has been pre-filed for consideration during the 2023 legislative session.

Visiting for official meetings today in Lincoln County, Washington State Treasurer Mike Pellicciotti completed a statewide, thirty-nine county tour that began in April of this year.

The Office of the State Treasurer (OST) sold a series of Certificates of Participation (COPs) this week that will provide funds to local districts across Washington, financing new equipment, emergency vehicles and land acquisitions.

The Office of the State Treasurer achieved strong investor interest and low interest rates in the sale of more than $707.5 million of Various Purpose General Obligation Bonds, and $140 million of General Obligation Bonds (Taxable) on Tuesday thanks in part to Washington’s newly affirmed strong credit ratings.

State Treasurer Mike Pellicciotti received confirmation this week that Washington will maintain its impressive bond ratings ahead of next week’s scheduled sale of approximately $707 million of Various Purpose General Obligation Bonds, and $140 million of General Obligation Bonds (Taxable).