EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXIS TING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0911*
SENATE BILL 911
C8 2lr1703
By: Senator Corderman
Introduced and read first time: February 11, 2022
Assigned to: Rules
Re–referred to: Finance, February 21, 2022
Committee Report: Favorable
Senate action: Adopted
Read second time: March 7, 2022
CHAPTER ______
AN ACT concerning 1
Maryland Stadium Authority – Hagerstown Multi–Use Sports and Events 2
Facility – Alterations 3
FOR the purpose of altering the entity with which the Maryland Stadium Authority must 4
enter into a written operating agreement before issuing bonds to finance the 5
Hagerstown Multi –Use Sports and Events Facility from the 6
Hagerstown–Washington County Industrial Foundation to The Hagerstown 7
Multi–Use Sports and Events Facility, Inc.; and generally relating to the 8
Hagerstown Multi–Use Sports and Events Facility. 9
BY repealing and reenacting, without amendments, 10
Article – Economic Development 11
Section 10–646.2(a) 12
Annotated Code of Maryland 13
(2018 Replacement Volume and 2021 Supplement) 14
BY repealing and reenacting, with amendments, 15
Article – Economic Development 16
Section 10–646.2(e), (f), and (g) 17
Annotated Code of Maryland 18
(2018 Replacement Volume and 2021 Supplement) 19
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 20
That the Laws of Maryland read as follows: 21 2 SENATE BILL 911
Article – Economic Development 1
10–646.2. 2
(a) Except as authorized by § 10–639 of this subtitle, to finance site acquisition, 3
design, and construction of any segment of the Hagerstown Multi–Use Sports and Events 4
Facility, the Authority shall comply with this section. 5
(e) The Authority may not issue bonds to finance the Hagerstown Multi–Use 6
Sports and Events Facility until the Authority and [the Hagerstown–Washington County 7
Industrial Foundation] THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS 8
FACILITY, INC., secure a written operating agreement. 9
(f) The Authority shall secure a written agreement to transfer ownership of the 10
Hagerstown Multi–Use Sports and Events Facility from the Authority to [the 11
Hagerstown–Washington County Industrial Foundation ] THE HAGERSTOWN 12
MULTI–USE SPORTS AND EVENTS FACILITY, INC., as approved by the Board of Public 13
Works: 14
(1) in which [the Hagerstown–Washington County Industrial Foundation] 15
THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS FACILITY, INC., agrees to: 16
(i) own, market, promote, and operate or contract for the marketing, 17
promotion, and operation of the Hagerstown Multi–Use Sports and Events Facility in a 18
manner that maximizes the Facility’s economic return; and 19
(ii) to maintain and repair or contract for the maintenance and 20
repair of the Hagerstown Multi–Use Sports and Events Facility so as to keep the 21
Hagerstown Multi–Use Sports and Events Facility in first–class operating condition; 22
(2) that includes provisions: 23
(i) protecting the investments of the Authority and [the 24
Hagerstown–Washington County Indu strial Foundation] THE HAGERSTOWN 25
MULTI–USE SPORTS AND EVENTS FACILITY, INC., in the Hagerstown Multi–Use 26
Sports and Events Facility; 27
(ii) requiring [the Hagerstown–Washington County Industrial 28
Foundation] THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS FACILITY, INC., 29
to contribute to a capital improvement reserve fund an amount sufficient to keep the 30
Hagerstown Multi–Use Sports and Events Facility in first–class operating condition; 31
(iii) requiring [the Hagerstown–Washington County Industrial 32
Foundation] THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS FACILITY, INC., 33
to be solely responsible for all expenditures relating to the operation of the Hagerstown 34 SENATE BILL 911 3
Multi–Use Sports and Events Facility that may be incurred, including operating deficits; 1
and 2
(iv) allowing [the Hagerstown–Washington County Industrial 3
Foundation] THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS FACILITY, INC., 4
to keep all operating profits resulting from the operation of the Hagerstown Multi–Use 5
Sports and Events Facility each year; and 6
(3) to be solely responsible for all expenditures relating to the operation, 7
maintenance, and repair of the Hagerstown Multi–Use Sports and Events Facility that may 8
be incurred, including the amount by which expenditures exceed revenues. 9
(g) On or before December 31 each year, [the Hagerstown–Washington County 10
Industrial Foundation] THE HAGERSTOWN MULTI–USE SPORTS AND EVENTS 11
FACILITY, INC., shall report to the Senate Budget and Taxation Committee and the House 12
Appropriations Committee, in accordance with § 2–1257 of the State Government Article, 13
on the Facility’s assessment of the maintenance and repair needed to keep the Hagerstown 14
Multi–Use Sports and Events Facility in operating order. 15
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 16
October 1, 2022. 17
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.