Bill > HB301

This bill authorizes the creation of a State Debt in the amount of $1,204,361,000, the proceeds of which will be used for necessary building, construction, demolition, planning, renovation, conversion, replacement, and capital equipment purchases of the State, as well as grants to certain subdivisions and other organizations for development and improvement purposes. The bill also makes revisions to previously authorized State debt from 2014 through 2021. Key provisions include: - Authorizing the Board of Public Works to borrow money and incur indebtedness through a State loan to be known as the Maryland Consolidated Capital Bond Loan of 2022 in the total principal amount of $1,204,361,000. - Providing funds for projects across various state agencies and institutions, including the Maryland Department of Emergency Management, Department of Disabilities, Maryland Stadium Authority, Department of Aging, Historic St. Mary's City Commission, Board of Public Works, Department of Planning, Department of Public Safety and Correctional Services, University System of Maryland, Maryland Higher Education Commission, Department of Juvenile Services, Department of State Police, Maryland Environmental Service, Department of Housing and Community Development, Department of the Environment, and Department of Agriculture. - Revising previously authorized State debt from 2014 through 2021, including adjustments to project amounts and extending termination dates for certain authorizations. - Declaring the State's public policy to manage State general obligation bond debt to maintain Maryland's AAA bond rating and providing legislative oversight, control, and review of State obligations. - Establishing provisions related to matching funds, historic preservation easements, termination of authorizations, and the Construction Contingency Fund.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0301?ys=2022RS