Bill > HB391

This bill authorizes the creation of a State Debt, known as the Maryland Consolidated Capital Bond Loan of 2026, for a total principal amount of $1,824,782,000. The funds generated from this loan will be used for various essential state projects, including building, construction, demolition, planning, renovation, conversion, replacement, and the purchase of capital equipment. Additionally, the bill allows for the acquisition of related real estate and provides grants to subdivisions and other organizations for development and improvement purposes. The bill also revises previous Maryland Consolidated Capital Bond Loans from 2015 through 2025, adjusting their authorized amounts and project allocations. The State will impose an annual tax on all assessable property to cover the principal and interest on these bonds, with the principal to be paid off within 15 years of the bonds' issuance. The bill also includes provisions for matching funds for certain grants, historic preservation easements, and specifies timelines for the expenditure of bond proceeds.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0391?ys=2026RS