Public Ethics - Conflicts of Interest and Blind Trust - Governor

SB 723 requires Maryland's Governor and Governor-elect to place certain financial interests into a certified blind trust or divest of them within a specified timeframe, and to enter a nonparticipation agreement with the State Ethics Commission for interests not covered by the trust. It also mandates that business entities seeking state grants, contracts, or competitive awards must report any financial interests held by the Governor or a "restricted individual" in the business to the Ethics Commission. The bill amends Maryland law to clarify definitions of "interest" (excluding certain assets like retirement accounts) and strengthens transparency rules for state contracting. These changes aim to prevent conflicts of interest by separating the Governor's personal finances from state decision-making.