“Many may view these procedural flaws as trivial, technical, or inconsequential, but I consider them to be part of a deeper, systemic problem and am gravely concerned,” Raskin said, according to the Journal.
The bill that would help small, local banks win more state banking contracts is still alive in these waning days of the legislative session, but time is running short.
Del. Bill Frick, the bill’s sponsor, said Thursday the focus of the bill is still the same, but its mechanics had changed. Originally, HB 1325 would have given local banks a pricing preference when bidding on state contracts. Now, Frick said, it would require the treasurer to consider whether a bank is local bank when reviewing bids.
“The goal for me was to move the business off Wall Street and into local banks,” said Frick, D-Montgomery. “Bank of America is going to invest their money in Dubai. Sandy Spring Bank is going to invest their money in Maryland.”
Del. Dan Morhaim, D-Baltimore County, said the bill is still being worked on by his subcommittee and is in much better shape that it was when originally submitted. But Morhaim wouldn’t hazard a guess regarding the bill’s prospects.
The legislature wraps up its 90-day session on Monday and for Frick’s bill to pass, it would have to come before the House of Delegates twice and the Senate three times — and survive committee votes in both chambers.