LOS ANGELES — Three Los Angeles City Council members have introduced a motion to fund a feasibility study for a proposed public bank, which supporters say could generate new revenue for the city without placing new taxes or fees on residents.

Council members Eunisses Hernandez, Ysabel Jurado and Hugo Soto-Martínez made the commitment during a news conference May 30 on the steps of City Hall, with each promising to provide $15,000 in AB 1290 discretionary funding from their respective council offices for the study.

Two years ago, the council voted 12-0 to allocate $460,000 for HR&A Advisors to conduct a feasibility study for a public bank. That money was included in the budget for fiscal year 2024-25, but it was later allocated for other uses amid budget constraints.

“For too long, our p

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