A Maryland legislator has introduced a bill that would open the way for the creation of a state-run bank.

On Feb. 8, Delegate Ana Sol Gutierrez of Montgomery County presented a bill to the state's General Assembly that would create a task force to consider whether to create a Maryland state bank. The purpose of the state bank would be to promote local economic development, lower the government's banking costs and bring in profits, the legislation says. The 13-member task force would be composed of government officials, banking experts and representatives of the banking industry and labor.

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