Legislature proposes new state bank

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Two Democratic state legislators are proposing a state bank. Fairbanks Representative Scott Kawasaki and Anchorage Representative Chris Tuck say House Bill 364 would help fill state coffers and aid small business.
Representative Scott Kawasaki says he and Representative Chris Tuck modeled their bill on North Dakota’s bank, the only state bank in the nation. Kawasaki says it’s been in operation for almost a century. The idea is for the bank to make loans to Alaskans who