Just got home from a meeting with an organization that is pushing for the establishment of a State Bank. North Dakota has had one for over 100 years, but no other state does.
What a state bank does is take all of the receipts from state sources and use them like an outside bank would do in financing bonds and such (don’t ask for more detail, this ain’t my field of expertise). The main benefit is to have the rent of the money accrue to the state - which I understand is significant. There is also an improvement in flexibility and “agility” in use of the dough.
“You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.”
– R. Buckminster Fuller