Speculation about the political future of Jim Smith has centered on a run for state comptroller, but that speculation ended this afternoon with Smith announcing that he is not interested in running for the position now held by Peter Franchot, a fellow Democrat.

“After much deliberation, I have decided not to run for comptroller in the 2010 election,” Smith wrote in a letter that was released late Monday afternoon.

“Although this has not been an easy decision, I am confident that I am making the right choice,” he continued. “Having spent many months thinking about the duties of comptroller in the State of Maryland, I have concluded that it is not a position to which I aspire.

“I have never pursued any elected office because it was expedient. I always sought the opportunity to serve because I thought I could make a real difference-as a councilman, a judge, and currently as county executive. I did not feel that passion when considering a run for comptroller.”

The short letter does not address why Smith is no longer interested in the position — or what he might run for when his current term ends.

Smith, 67, has said in previous interviews that he planned to continue in public life after his second term as county executive expires in December 2010. He is prohibited by law from seeking a third term.

Smith has continued to raise money since being re-elected. His most recent campaign finance report filed in January shows Smith had just under $1 million on hand. Fundraising events held since then should have pushed him well over that mark.

Smith's supposed comptroller bid reportedly had the blessing of Gov. Martin O'Malley. The governor and Franchot have frequently butted heads over issues since both were elected in 2006.

"I think had (Smith) decided to run for anything the governor would have supported him," said Shaun Adamec, an O'Malley spokesman, on Monday.

Adamec said the governor was likely not surprised by the announcement but could not confirm that Smith spoke to O'Malley before releasing the letter.

"They have a very close working relationship," Adamec said.

This story has been updated.

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