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Senate president urges Maryland Future Fund to target industries and partner with universities
Summary
Senate President told the Economic Matters Committee SB 770 would create a Maryland Future Board in the Department of Commerce to guide targeted investments and direct the comptroller to partner with the University System of Maryland on an industry-growth study to inform strategic spending.
Senate President presented Senate Bill 770, the Maryland Future Fund, to the Economic Matters Committee, saying the measure would create a Maryland Future Board inside the Department of Commerce to make targeted investments in industries where the state has competitive advantages. "We need to have a more structured plan about what the future looks like and where we are investing our precious and limited resources," the Senate President said in opening remarks.
The sponsor framed the bill as a response to shifting federal spending patterns and…
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