Bill > HB351

This bill authorizes the creation of a state debt in the amount of $1,814,825,000 for the Maryland Consolidated Capital Bond Loan of 2025. The bill provides detailed allocations for capital projects across various state departments, agencies, and institutions, including funding for: 1. School construction and improvements, with significant allocations to the Interagency Commission on School Construction, including funds for: - Aging Schools Program - Healthy School Facility Fund - Public School Construction Program - Nonpublic school grants 2. Infrastructure and facility upgrades for state agencies, such as: - Facilities Renewal Fund - New Supreme Court Building - Military Department readiness centers - Veterans cemeteries - Historic preservation grants 3. Higher education institution improvements, including: - University of Maryland campuses - Morgan State University - Community college construction grants - Various campus building renovations and new construction projects 4. Healthcare facility improvements, with grants to: - Various hospitals - Community health centers - Mental health facilities 5. Local community development projects, including: - Neighborhood revitalization grants - Business facade improvements - Strategic demolition funds - Community legacy programs The bill also includes provisions for managing state debt, requiring legislative oversight, and specifying conditions for project funding. It aims to maintain Maryland's AAA bond rating while supporting critical infrastructure and community development needs across the state. The funding will be raised through state general obligation bonds and will support a wide range of public projects throughout Maryland.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0351?ys=2025RS