Maryland lawmakers reelect Dereck Davis treasurer – WTOP News

ANNAPOLIS, Md. (AP) — Maryland lawmakers on Tuesday reelected Dereck Davis to be the state’s treasurer for a four-year time period.

The treasurer, who’s elected by the Normal Meeting, is the principal custodian of the state’s money deposits, cash from bond gross sales and different securities, and directs the investments of these belongings. He additionally leads a number of key state boards and monetary planning committees, together with the Maryland State Retirement and Pension Techniques.

The treasurer additionally holds one among three seats on the state’s highly effective Board of Public Works, together with the governor and comptroller. The board controls state procurement coverage and approves most state contracts which can be greater than $200,000.

Davis stated he’s making a precedence of enhancing the state’s efficiency in assembly targets of accelerating Minority Enterprise Enterprise participation in state procurement. Whereas Maryland set a purpose of 29% minority participation, the quantity routinely is available in underneath 12%, Davis stated.

“Too typically I hear, ‘We will’t discover certified (Minority Enterprise Enterprises),’” Davis stated throughout the joint session of the legislature. “Nicely, I’ve had conversations with the state Chamber of Commerce, in addition to a few of our native enterprise associations, and we’re going to assist them to determine these people.”

Final week, Gov. Wes Moore, who stood behind Davis applauding his feedback after the vote, signed an govt order to require state companies to report information to evaluate the efficiency of the state’s MBE program.

“I consider the information your administration is gathering will present us precisely the place we stand and supply us a street map of the place we have to go,” Davis stated.

Davis was first elected in December 2021 by the Normal Meeting throughout its particular session on congressional redistricting to take the place of his predecessor, Nancy Kopp, who retired.

Davis, a Democrat, was a member of the Maryland Home of Delegates representing a district in Prince George’s County from 1995 till he stepped down to hunt the treasurer’s workplace. As a delegate, he served as chairman of the Home Financial Issues Committee.

Copyright
© 2023 The Related Press. All rights reserved. This materials is probably not printed, broadcast, written or redistributed.