Maryland 2023 Regular Session

Maryland House Bill HB574

Introduced
2/3/23  

Caption

St. Mary's County - Public Facilities Bond

Impact

The passage of HB 574 is significant as it allows the County to address pressing needs for public facilities such as roads, schools, parks, and other essential infrastructure. The funding mechanism ensures that the County has a robust financial instrument to manage and execute necessary improvements that contribute to the community's growth and public welfare. Additionally, the bonds issued under this bill will be exempt from state and municipal taxation, which could incentivize investment and participation in the local economy.

Summary

House Bill 574, titled 'St. Mary's County - Public Facilities Bond', authorizes the County Commissioners of St. Mary’s County to borrow up to $41 million to finance the construction, improvement, or development of various public facilities within the county. It empowers the County to issue general obligation bonds and determines the terms under which these bonds shall be sold, including interest rates, maturities, and conditions for issuance. This borrowing is expected to enhance the funding available for critical infrastructure projects throughout the region.

Contention

While the bill itself facilitates funding through bonds, there may be points of contention relating to how the funds are allocated and the implications of borrowing large sums of money. Concerns could arise regarding the long-term impact of increased taxes on residents to support repayment of the bonds, as well as debates over prioritizing specific projects funded by this legislation. There also exists the question of whether the proposed facilities will genuinely meet the needs of all communities within St. Mary’s County, potentially leading to discussions on equity in funding and accessibility.

Companion Bills

MD SB457

Crossfiled St. Mary's County - Public Facilities Bond

Previously Filed As

MD SB457

St. Mary's County - Public Facilities Bond

MD SB623

St. Mary's County - Public Facilities Bond

MD HB561

St. Mary's County - Public Facilities Bond

MD HB623

St. Mary's County - Public Facilities Bond

MD HB893

Calvert County - Public Facilities Bonds

MD SB442

Calvert County - Public Facilities Bonds

MD HB1021

Washington County - Public Facilities Bonds

MD HB833

Carroll County - Public Facilities Bond

MD SB305

Carroll County - Public Facilities Bond

MD HB796

Carroll County - Public Facilities Bond

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