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MarylandHB 09322025 Regular SessionHouseWALLET

Public Ethics - Conflicts of Interest and Blind Trust - Governor

Sponsored By: Marc Korman (Democratic)

Signed by Governor

EthicsCertificationsCommerce and Business -see also- ElectrComm; ForeignTr; etc.Committees and CommissionsDisclosureElectronic Commerce -see also- Electronic Funds TransferElectronic GovernmentEstates and Trusts -see also- BeneficiariesFines -see also- Penalties and SentencesGeneral Services, Department ofGovernorInternet -see also- Internet AccessKinship -see also- Parents and GuardiansMaryland RegisterPenalties and Sentences -see also- Death PenaltyProcurementPublic Officials -see also- Atty Gen; Compt; Coun Admin; etcReportsRules and Regulations

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Businesses must disclose Governor-linked ownership

Beginning October 1, 2025, Maryland adds public ownership disclosures to help reveal potential conflicts in state awards. Businesses seeking state grants, competitive awards, or contracts must report covered ownership to the State Ethics Commission. This includes contracts to buy or sell real or personal property. Reporting applies when the Governor or a restricted individual owns at least 10% of a corporation's capital stock. Any ownership interest in a partnership, limited liability partnership, or limited liability company also triggers reporting. Restricted individuals include the Governor's spouse, close family and in-laws, and people sharing the Governor's primary home, except employees. The Commission must post reports online. Procurement notices published on eMaryland Marketplace on or after October 1, 2025, must include an ownership disclosure checkbox for bidders. A knowing and willful reporting violation can bring a fine up to $10,000, one year in jail, or both.

Governor faces stricter personal asset rules

Maryland's law strengthens public safeguards against conflicts while limiting how the Governor manages private assets. The Governor-elect must consult the State Ethics Commission before taking office about a blind trust or selling private interests. The Commission must update regulations by July 1, 2026. The Governor has six months after those regulations take effect to meet the asset rules, with extensions for good cause. Covered interests must enter an approved blind trust, or the Governor must sell interests the Commission identifies as needed to resolve conflicts. A trustee must be a financial institution or a qualified organization with at least two years of trust-management experience. The Governor cannot receive trust-management or income information except as needed for personal tax returns. Keeping an interest outside the trust requires written approval and an agreement barring participation in matters involving that interest. Approved trust documents and these agreements are posted online. A residence producing no income in the prior year is excluded. Each January 31, the Governor must certify that no new interests were acquired outside the trust or that an agreement covers them. Violations can bring civil fines up to $5,000 each and criminal penalties up to $10,000, one year in jail, or both.

Sponsors & Cosponsors

Sponsor

  • Marc Korman

    Democratic • House

Cosponsors

  • Nick Allen

    Democratic • House

  • Dylan Behler

    Democratic • House

  • Regina T. Boyce

    Democratic • House

  • Linda Foley

    Democratic • House

  • Michele Guyton

    Democratic • House

  • Marvin E. Holmes

    Democratic • House

  • Jeffrie E. Long

    Democratic • House

  • Mary A. Lehman

    Democratic • House

  • Robbyn Lewis

    Democratic • House

  • Sheila Ruth

    Democratic • House

  • Dana Stein

    Democratic • House

  • Vaughn Stewart

    Democratic • House

  • Jen Terrasa

    Democratic • House

  • Natalie Ziegler

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 184 • No: 0

Senate vote • 4/2/2025

Third Reading Passed

Yes: 45 • No: 0 • Other: 2

House vote • 3/12/2025

Third Reading Passed

Yes: 139 • No: 0 • Other: 2

Actions Timeline

  1. Approved by the Governor - Chapter 300

    5/6/2025

  2. Returned Passed

    4/2/2025House

  3. Third Reading Passed (45-0)

    4/2/2025Senate

  4. Second Reading Passed

    4/1/2025Senate

  5. Favorable Adopted

    4/1/2025Senate

  6. Favorable Report by Education, Energy, and the Environment

    3/31/2025Senate

  7. Referred Education, Energy, and the Environment

    3/12/2025Senate

  8. Third Reading Passed (139-0)

    3/12/2025House

  9. Second Reading Passed with Amendments

    3/11/2025House

  10. Favorable with Amendments {743723/1 Adopted

    3/11/2025House

  11. Favorable with Amendments Report by Environment and Transportation

    3/10/2025House

  12. Hearing 2/20 at 1:00 p.m.

    2/5/2025House

  13. First Reading Environment and Transportation

    1/31/2025House

Bill Text

  • Enacted

    5/6/2025

    PDF

  • Third Reading

    3/11/2025

    PDF

  • First Reading

    1/31/2025

    PDF

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