At this week’s special WA529 Committee meeting, Washington State Treasurer Mike Pellicciotti supported lowering the 2020-2021 Washington State GET unit price from $133 to $122. 

A solid credit rating along with strong investor demand allowed the State Treasurer’s Office to finance several local and state government projects at low interest rates today.

It is a priority for State Treasurer Mike Pellicciotti that Washington remain on track to fully fund our state pension obligations. Today the Governor signed the legislature’s budget that appropriates $800 million in state funds to reduce the amount of unfunded actuarial accrued liability in the Teachers’ Retirement System plan 1 fund on June 30, 2023.

State Treasurer Mike Pellicciotti today called on the U.S. Senate to pass HR 1996, the SAFE Banking Act of 2021, after it passed the U.S. House of Representatives today. Pellicciotti continues his advocacy on behalf of Washington State so that legal cannabis businesses operating in Washington State can finally use banks and other financial institutions, instead of relying primarily on cash for all financial transactions.

Relying on low interest rates and Washington’s strong credit rating, today State Treasurer Mike Pellicciotti approved the refinancing of state debt to save Washingtonians $112 million in future debt costs, the highest amount of savings on a percentage basis from a refinancing by the Treasurer’s Office in at least 35 years, when records were first kept.

Washington Treasurer Mike Pellicciotti approved a financing plan today that will allow the Washington State Convention Center Public Facilities District to complete its expansion with private funding through the municipal bond market, thereby avoiding the need for $315 million in government loans that was being considered by the State, the City of Seattle, and King County.

State Treasurer Mike Pellicciotti called on Congress today to allow more people with disabilities to set up tax-advantaged savings programs.

“I want more people with disabilities in our state to benefit from those programs that can serve their long-term financial needs,” said Pellicciotti.

State Treasurer Mike Pellicciotti offered the following statement on President Joe Biden signing the American Rescue Plan into law today. Pellicciotti joined with 16 other state treasurers last month to call on Congress to pass this legislation.

In its first bond sale of the year, the Office of the State Treasurer announced this week that it sold $512.7 million of Various Purpose General Obligation Bonds at an interest rate of 2.39%, locking in one of the lowest, if not the lowest interest rates for long-term general obligation bonds in State history.

This morning, the Office of the State Treasurer sold $14.79 million in Certificates of Participation (COPs) in a competitive sale. Washington State’s COP sale attracted strong demand, with bids from 14 financial institutions.