Maryland panel kills state-run bank proposal Maryland won’t be getting a state-run bank, at least not this year, but one of its backers said she’ll try again next session.
A bill that would have created a state commission to study creation of a Maryland State Bank was killed Wednesday in a 19-3 vote by the House Economic Matters Committee.
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The vote followed on the heels of a vote by the Senate Finance Committee on March 9. It voted 9-2 against the measure.
Del. Ana Sol Gutierrez, D-Montgomery County, said Friday she plans to bring the bill back for another try next year.
“I believe it’s a good idea and something we should consider for Maryland,” said Gutierrez, a House sponsor.
The idea ran into opposition from the Maryland Bankers Association. The group argued that a bank run by the state would have an unfair advantage over for-profit banks because it would not have to pay taxes and would be backed by taxpayers.
Corporate Executive Board lines $100 million in credit
Arlington-based Corporate Executive Board has lined up $100 million of new credit.
The Corporate Executive Board, a consultant to Fortune 500 firms and other large organizations, said that Bank of America and J.P. Morgan led a syndicate of banks that created the five-year, $100 million senior unsecured revolving credit facility.
The funds can be tapped for general corporate purposes, including potential acquisitions, but the company said it had no immediate plans to draw against the facility.
LearningGuide Solutions gets $6m investment
LearningGuide Solutions, a Bethesda maker of corporate education software, received a $6 million investment from Edison Ventures and will use the capital to expand development and sales.
LearningGuide’s customers include Deloitte, JetBlue and Herman Miller.
Edison Ventures has invested in more than a dozen e-learning and corporate software companies, including Vocus Inc., which went public in 2005.
