Bill > HB1473

This bill establishes the Maryland's Future Board within the Department of Commerce to create a "visionary plan" by January 1, 2027, which is defined as a forward-thinking strategy for an equitable, prosperous, and livable state that provides opportunities for all residents, considering future trends in areas like robotics, artificial intelligence, and advanced manufacturing, and is not limited by current technology or fiscal conditions. The Board, composed of members appointed by the Governor, President of the Senate, Speaker of the House, and the Comptroller (or their designee), will evaluate and revise this plan annually and, by August 1, 2027, and each year thereafter, will recommend "projects" to the Governor and General Assembly. A "project" is broadly defined to include allocations of funds in the state's operating or capital budgets, or the implementation of any policy that enhances the state's socioeconomic well-being and resilience. The bill also establishes the Maryland's Future Fund to finance these recommended projects, which will be administered by the Department of Commerce and is exempt from a general rule that directs most special fund interest earnings to the state's General Fund. Additionally, the Comptroller is required to study economic growth trends in key industries and report findings to the General Assembly by December 1, 2026, to inform the Board's planning process.