Nevada Families/Eagle Forum

186 Ryndon Unit 12, Elko, Nevada 89801, 775-397-6859, Sparks 775-356-0105

Janine Hansen director@nevadafamilies.org,

May 24, 2011, In the Year of Our Lord, 10:09pm

 Please forward to everyone you know!  Thank you for Acknowledgement.

 SUPPORT SB341 Study on Establishment of State Bank

HEARING: Thursday, May  26^th  3:30pm Rm. 2144, Sen. Leg. Operations & Elections   Rm. 4412 Grant Sawyer Bldg., 555 East Washington Ave., Las Vegas.

MESSAGE: Vote YES on SB341 A Study on creating a State Bank owned and operated by the State.  The bank will provide non-tax revenue for the state and financing for agriculture, commerce, and industry just like the State Bank of North Dakota.

Emails: dparks@sen.state.nv.us, shorsford@sen.state.nv.us, mdenis@sen.state.nv.us, bcegavske@sen.state.nv.us,   jsettelmeyer@sen.state.nv.us, 

Legislative Phone & Fax numbers: Southern Nevada: 702-486-2626, Northern Nevada: 775-684-6800, 775-684-6789, Toll Free: 800- 978-2878, Toll Free Fax: 800-995-9080

SB341: This is a great idea which is long overdue. Although it is just a study, it is the first step in creating a state bank just like North Dakota.  Senator Joe Neal introduced a bill creating a state bank years ago when he was working with constitutional attorney David Horton of Carson City.

The primary deposit base of the State Bank would be the State of Nevada so our tax dollars, while in the bank, would be invested in Nevada not elsewhere. The Bank would accept other depositors including private citizens and businesses. It would not be a member of the FDIC, but the state would guarantee all deposits. The State Bank of North Dakota has been in operation since 2001 and has created partnerships with more than 100 other North Dakota financial institutions, to assist them in meeting the needs of the residents of North Dakota. The State would be able to invest in the growth of agriculture, commerce and industry in this state which would benefit our economy.  In addition, the State Bank would be a source of non-tax revenue from interest earned on loans and other investments. 

Please see text of bill for more details:: https://www.leg.state.nv.us/Session/76th2011/Bills/SB/SB341.pdf