WES MOORE, Governor Ch. 112
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Chapter 112
(House Bill 524)
AN ACT concerning
Maryland Stadium Authority – Supplemental Financing Funds – Camden Yards
Sports Facilities Funds and Bus Rapid Transit Fund
FOR the purpose of altering the membership of the Maryland Stadium Authority;
establishing the Camden Yards Football Sports Facility Supplemental Financing
Fund and the Camden Yards Baseball Sports Facility Supplemental Financing Fund
as special, nonlapsing funds to enable the Maryland Stadium Authority to take
certain actions; requiring the Authority to administer the funds; requiring interest
earnings of the funds to be credited to the funds; altering the amount the Comptroller
is required to distribute from the State Lottery Fund to certain funds; altering the
distribution of grants for bus rapid transit under certain circumstances; establishing
the Bus Rapid Transit Fund as a special, nonlapsing fund to provide grants to certain
eligible grantees; and generally relating to the financing of Camden Yards sports
facilities Maryland Stadium Authority.
BY repealing and reenacting, without amendments,
Article – Economic Development
Section 10–601(a) and (ccc)
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – Economic Development
Section 10–601(oo) and (pp), 10–605, and 10–607(b)
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY adding to
Article – Economic Development
Section 10–652.1 and 10–652.2
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, without amendments,
Article – State Finance and Procurement
Section 6–226(a)(2)(i)
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – State Finance and Procurement Ch. 112 2023 LAWS OF MARYLAND
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Section 6–226(a)(2)(ii)170. and 171.
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY adding to
Article – State Finance and Procurement
Section 6–226(a)(2)(ii)172. and, 173., and 174.
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – State Government
Section 9–120
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – Transportation
Section 2–802
Annotated Code of Maryland
(2020 Replacement Volume and 2022 Supplement)
BY adding to
Article – Transportation
Section 2–802.1
Annotated Code of Maryland
(2020 Replacement Volume and 2022 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Economic Development
10–601.
(a) In this subtitle the following words have the meanings indicated.
(oo) “Prince George’s County Blue Line Corridor” means an area, the specific
boundaries of which are designated by public local law, in central Prince George’s County
[near] IN the intersections of [I–495 and Landover Road, Arena Drive, and Central
Avenue] MARYLAND ROUTE 704, MARYLAND ROUTE 214, AND MARYLAND ROUTE
202.
(pp) (1) “Prince George’s County Blue Line Corridor facility” means a facility
located within the Prince George’s County Blue Line Corridor that is:
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[(1)] (I) a convention center;
[(2)] (II) an arts and entertainment amphitheater; and
[(3)] (III) any other functionally related structures, improvements,
infrastructure, furnishings, or equipment of the facility, including parking garages.
(2) “PRINCE GEORGE’S COUNTY BLUE LINE CORRIDOR FACILITY ”
DOES NOT INCLUDE A S PORTS FACILITY.
(ccc) (1) “Sports facility” means:
(i) a stadium primarily for professional football, major league
professional baseball, or both, in the Baltimore metropolitan region, as defined in §
13–301 of this article;
(ii) practice fields or other areas where professional football or major
league professional baseball teams practice or perform; and
(iii) offices for professional football and major league professional
baseball teams or franchises.
(2) “Sports facility” includes parking lots, garages, and any other property
adjacent and directly related to an item listed in paragraph (1) of this subsection.
(3) “Sports facility” does not include a sports entertainment facility.
10–605.
(a) (1) The Authority consists of the following [nine] 10 11 members:
(i) six SEVEN members appointed by the Governor, with the advice
and consent of the Senate;
(ii) one member appointed by the President of the Senate;
(iii) one member appointed by the Speaker of the House of Delegates;
[and]
(iv) one member appointed by the Mayor of Baltimore City, with the
advice and consent of the Senate; AND
(V) ONE MEMBER APPOINTED BY THE COUNTY EXECUTIVE OF
PRINCE GEORGE’S COUNTY, WITH THE ADVICE AND CONSENT OF THE SENATE.
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(2) In making appointments, the Governor shall ensure that the
geographic areas of the State are represented.
(b) (1) The term of a member is 4 years.
(2) The terms of members are staggered as required by the terms provided
for members on October 1, 2008.
(3) At the end of a term, a member continues to serve until a successor is
appointed and qualifies.
(4) A member who is appointed after a term has begun serves only for the
rest of the term and until a successor is appointed and qualifies.
(c) A member may be removed for incompetence, misconduct, or failure to
perform the duties of the position by:
(1) the Governor, if appointed by the Governor;
(2) the President of the Senate, if appointed by the President;
(3) the Speaker of the House of Delegates, if appointed by the Speaker; [or]
(4) the Mayor of Baltimore City, if appointed by the Mayor; OR
(5) THE COUNTY EXECUTIVE OF PRINCE GEORGE’S COUNTY, IF
APPOINTED BY THE COUNTY EXECUTIVE.
10–607.
(b) (1) [Five] SIX members of the Authority are a quorum.
(2) Action by the Authority requires the affirmative vote of at least [five]
SIX members.
10–652.1.
(A) IN THIS SECTION , “FUND” MEANS THE CAMDEN YARDS FOOTBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND.
(B) THERE IS A CAMDEN YARDS FOOTBALL SPORTS FACILITY
SUPPLEMENTAL FINANCING FUND.
(C) THE PURPOSE OF THE FUND IS TO ENABLE THE AUTHORITY TO:
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(1) USE THE FUND AS A REVOLVING F UND FOR IMPLEMENTING THIS
SUBTITLE AS IT RELAT ES TO THE CAMDEN YARDS FOOTBALL SPORTS FACILITY; AND
(2) PAY ANY EXPENSES INC URRED BY THE AUTHORITY THAT ARE
RELATED TO THE CAMDEN YARDS FOOTBALL SPORTS FACILITY.
(D) THE AUTHORITY SHALL ADMIN ISTER THE FUND.
(E) (1) THE FUND IS A CONTINUING , NONLAPSING FUND THAT IS NOT
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY ,
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND.
(F) (1) TO THE EXTENT CONSIDE RED APPROPRIATE BY THE AUTHORITY,
THE RECEIPTS OF THE FUND SHALL BE PLEDGED TO AND CHARGED WITH THE
FOLLOWING RELATED TO THE CAMDEN YARDS FOOTBALL SPORTS FACILITY:
(I) PAYMENT OF DEBT SERV ICE ON AUTHORITY BONDS ;
(II) ALL REASONABLE CHARG ES AND EXPENSES RELATED TO
THE AUTHORITY’S BORROWING ; AND
(III) THE MANAGEMENT OF AUTHORITY OBLIGATIONS .
(2) THE PLEDGE SHALL BE E FFECTIVE AS PROVIDED IN ANY
APPLICABLE AUTHORITY RESOLUTION .
(G) THE FUND CONSISTS OF :
(1) MONEY DISTRIBUTED TO THE FUND UNDER § 9–120(B) OF THE
STATE GOVERNMENT ARTICLE;
(2) MONEY APPROPRIATED F OR DEPOSIT IN THE FUND;
(3) PROCEEDS FROM THE SA LE OF BONDS CONCERNI NG THE CAMDEN
YARDS FOOTBALL SPORTS FACILITY;
(4) REVENUES COLLECTED O R RECEIVED FROM ANY SOURCE UNDER
THIS SUBTITLE RELATED TO THE CAMDEN YARDS FOOTBALL SPORTS FACILITY;
(5) ANY INTEREST EARNING S OF THE FUND; AND
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(6) ANY ADDITIONAL MONEY MADE AVAILABLE FROM ANY SOURCE
FOR THE PURPOSES EST ABLISHED FOR THE FUND.
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND
IN THE SAME MANNER A S OTHER STATE FUNDS.
(2) ANY INVESTMENT OR INT EREST EARNINGS SHALL BE CREDITED
TO THE FUND.
(3) NO PART OF THE FUND MAY REVERT OR BE CREDITED TO THE
GENERAL FUND OF THE STATE OR ANY SPECIAL FUND OF THE STATE.
10–652.2.
(A) IN THIS SECTION , “FUND” MEANS THE CAMDEN YARDS BASEBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND.
(B) THERE IS A CAMDEN YARDS BASEBALL SPORTS FACILITY
SUPPLEMENTAL FINANCING FUND.
(C) THE PURPOSE OF THE FUND IS TO ENABLE THE AUTHORITY TO:
(1) USE THE FUND AS A REVOLVING F UND FOR IMPLEMENTING THIS
SUBTITLE AS IT RELAT ES TO THE CAMDEN YARDS BASEBALL SPORTS FACILITY; AND
(2) PAY ANY EXPENSES INC URRED BY THE AUTHORITY THAT ARE
RELATED TO THE CAMDEN YARDS BASEBALL SPORTS FACILITY.
(D) THE AUTHORITY SHALL ADMIN ISTER THE FUND.
(E) (1) THE FUND IS A CONTINUING , NONLAPSING FUND THAT IS NOT
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY ,
AND THE COMPTROLLER S HALL ACCOUNT FOR THE FUND.
(F) (1) TO THE EXTENT CONSIDE RED APPROPRIATE BY T HE AUTHORITY,
THE RECEIPTS OF THE FUND SHALL BE PLEDGED TO AND CHARGED WITH THE
FOLLOWING RELATED TO THE CAMDEN YARDS BASEBALL SPORTS FACILITY:
(I) PAYMENT OF DEBT SERV ICE ON AUTHORITY BONDS ;
(II) ALL REASONABLE CHARG ES AND EXPENSES RELA TED TO
THE AUTHORITY’S BORROWING ; AND WES MOORE, Governor Ch. 112
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(III) THE MANAGEMENT OF AUTHORITY OBLIGATIONS .
(2) THE PLEDGE SHALL BE E FFECTIVE AS PROVIDED IN ANY
APPLICABLE AUTHORITY RESOLUTION .
(G) THE FUND CONSISTS OF :
(1) MONEY DISTRIBUTED TO THE FUND UNDER § 9–120(B) OF THE
STATE GOVERNMENT ARTICLE;
(2) MONEY APPROPRIATED F OR DEPOSIT IN THE FUND;
(3) PROCEEDS FROM THE SA LE OF BONDS CONCERNI NG THE CAMDEN
YARDS BASEBALL SPORTS FACILITY;
(4) REVENUES COLLECTED O R RECEIVED FROM ANY SOURCE UNDER
THIS SUBTITLE RELATE D TO THE CAMDEN YARDS BASEBALL SPORTS FACILITY;
(5) ANY INTEREST EARNING S OF THE FUND; AND
(6) ANY ADDITIONAL MONEY MADE AVAILABLE FROM ANY SOURCE
FOR THE PURPOSES EST ABLISHED FOR THE FUND.
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND
IN THE SAME MANNER A S OTHER STATE FUNDS.
(2) ANY INVESTMENT OR INT EREST EARNINGS SHALL BE CREDITED
TO THE FUND.
(3) NO PART OF THE FUND MAY REVERT OR BE CREDITED TO THE
GENERAL FUND OF THE STATE OR ANY SPECIAL FUND OF THE STATE.
Article – State Finance and Procurement
6–226.
(a) (2) (i) Notwithstanding any other provision of law, and unless
inconsistent with a federal law, grant agreement, or other federal requirement or with the
terms of a gift or settlement agreement, net interest on all State money allocated by the
State Treasurer under this section to special funds or accounts, and otherwise entitled to
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General
Fund of the State.
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(ii) The provisions of subparagraph (i) of this paragraph do not apply
to the following funds:
170. the Cannabis Public Health Fund; [and]
171. the Community Reinvestment and Repair Fund;
172. THE CAMDEN YARDS BASEBALL SPORTS FACILITY
SUPPLEMENTAL FINANCING FUND; AND
173. THE CAMDEN YARDS FOOTBALL SPORTS FACILITY
SUPPLEMENTAL FINANCING FUND; AND
174. THE BUS RAPID TRANSIT FUND.
Article – State Government
9–120.
(a) The Comptroller shall distribute, or cause to be distributed, the State Lottery
Fund to pay:
(1) on a pro rata basis for the daily and nondaily State lottery games, the
expenses of administering and operating the State lottery, as authorized under this subtitle
and the State budget; and
(2) then, except as provided in § 10–113.1 of the Family Law Article, §
11–618 of the Criminal Procedure Article, and § 3–307 of the State Finance and
Procurement Article, the holder of each winning ticket or share.
(b) (1) By the end of the month following collection, the Comptroller shall
deposit, cause to be deposited, or pay:
(i) 1. AFTER JUNE 30, 2023, BUT NOT LATER THAN JUNE
30, 2026, into the Maryland Stadium Facilities Fund established under § 7–312 of the
State Finance and Procurement Article from the money that remains in the State Lottery
Fund, after the distribution under subsection (a) of this section, an amount not to exceed
[$90,000,000] $14,200,000 in [any] EACH fiscal year;
2. AFTER JUNE 30, 2023, BUT NOT LATER THAN JUNE
30, 2026, FROM THE MONEY THAT REMAINS IN THE STATE LOTTERY FUND AFTER
THE DISTRIBUTION UND ER SUBSECTION (A) OF THIS SECTION , AN AMOUNT FOR
EACH FISCAL YEAR NOT TO EXCEED:
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A. $34,900,000 INTO THE CAMDEN YARDS FOOTBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.1 OF THE ECONOMIC DEVELOPMENT ARTICLE; AND
B. $40,900,000 INTO THE CAMDEN YARDS BASEBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.2 OF THE ECONOMIC DEVELOPMENT ARTICLE;
3. AFTER JUNE 30, 2026, BUT NOT LATER THAN JUNE
30, 2039, INTO THE MARYLAND STADIUM FACILITIES FUND ESTABLISHED UNDE R §
7–312 OF THE STATE FINANCE AND PROCUREMENT ARTICLE FROM THE MONE Y
THAT REMAINS IN THE STATE LOTTERY FUND, AFTER THE DISTRIBUTION U NDER
SUBSECTION (A) OF THIS SECTION, AN AMOUNT NOT TO EXC EED $3,360,000 IN EACH
FISCAL YEAR;
4. AFTER JUNE 30, 2026, BUT NOT LATER THAN JUNE
30, 2039, FROM THE MONEY THAT REMAINS IN THE STATE LOTTERY FUND AFTER
THE DISTRIBUTION UND ER SUBSECTION (A) OF THIS SECTION , AN AMOUNT FOR
EACH FISCAL YEAR NOT TO EXCEED:
A. $45,000,000 INTO THE CAMDEN YARDS FOOTBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.1 OF THE ECONOMIC DEVELOPMENT ARTICLE; AND
B. $41,640,000 INTO THE CAMDEN YARDS BASEBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.2 OF THE ECONOMIC DEVELOPMENT ARTICLE; AND
5. AFTER JUNE 30, 2039, FROM THE MONEY THAT
REMAINS IN THE STATE LOTTERY FUND AFTER THE DIST RIBUTION UNDER
SUBSECTION (A) OF THIS SECTION , AN AMOUNT FOR EACH F ISCAL YEAR NOT TO
EXCEED:
A. $45,000,000 INTO THE CAMDEN YARDS FOOTBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.1 OF THE ECONOMIC DEVELOPMENT ARTICLE; AND
B. $45,000,000 INTO THE CAMDEN YARDS BASEBALL
SPORTS FACILITY SUPPLEMENTAL FINANCING FUND ESTABLISHED UNDE R §
10–652.2 OF THE ECONOMIC DEVELOPMENT ARTICLE;
(ii) after June 30, 2014, into the Maryland Veterans Trust Fund 10%
of the money that remains in the State Lottery Fund from the proceeds of sales of tickets Ch. 112 2023 LAWS OF MARYLAND
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from instant ticket lottery machines by veterans’ organizations under § 9–112(d) of this
subtitle, after the distribution under subsection (a) of this section;
(iii) after June 30, 2014, into the Baltimore City Public School
Construction Financing Fund established under § 10–656 of the Economic Development
Article the money that remains in the State Lottery Fund from the proceeds of all lotteries
after the distributions under subsection (a) of this section and items (i) and (ii) of this
paragraph, an amount equal to $20,000,000 in each fiscal year that bonds are outstanding
and unpaid, to be paid in two installments with at least $10,000,000 paid no later than
December 1 of each fiscal year;
(iv) after June 30, 2021, into the Racing and Community
Development Financing Fund established under § 10–657.2 of the Economic Development
Article from the money that remains in the State Lottery Fund, after the distribution under
subsection (a) of this section, an amount equal to $17,000,000 in each fiscal year until the
bonds issued for a racing facility have matured;
(v) after June 30, 2020, into the Michael Erin Busch Sports Fund
established under § 10–612.2 of the Economic Development Article from the money that
remains in the State Lottery Fund from the proceeds of all lotteries after the distributions
under subsection (a) of this section and items (i) through (iv) of this paragraph, an amount
equal to $1,000,000 in each fiscal year;
(vi) after June 30, 2021, a grant to the Maryland Humanities Council
for Maryland History Day and other programming from the money that remains in the
State Lottery Fund after the distributions under subsection (a) of this section and items (i)
through (v) of this paragraph, an amount equal to $150,000 in each fiscal year;
(vii) after June 30, 2021, to Anne Arundel County or Baltimore City
each fiscal year the amount required to be distributed under § 9–1A–31(a)(7)(ii) of this title
to be used as required under § 9–1A–31 of this title;
(viii) after June 30, 2022, into the Maggie McIntosh School Arts Fund
established under § 5–243 of the Education Article from the money that remains in the
State Lottery Fund from the proceeds of all other lotteries after the distributions under
subsection (a) of this section and items (i) through (vii) of this paragraph, an amount equal
to $250,000 in each fiscal year;
(ix) after June 1, 2022, to the Sports Entertainment Facilities
Financing Fund established under § 10–657.5 of the Economic Development Article from
the money that remains in the State Lottery Fund from the proceeds of all lotteries after
the distributions under subsection (a) of this section and items (i) through (viii) of this
paragraph, an amount not to exceed $25,000,000 to be paid in two installments not later
than November 1 and June 1 of each fiscal year;
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(x) after June 30, 2022, to the Major Sports and Entertainment
Event Program Fund established under § 10–611.2 of the Economic Development Article
from the money that remains in the State Lottery Fund from the proceeds of all lotteries
after the distributions under subsection (a) of this section and items (i) through (ix) of this
paragraph:
1. for fiscal year 2023, an amount equal to $10,000,000; and
2. for each fiscal year thereafter, the amount necessary to
restore the Major Sports and Entertainment Event Program Fund to a balance of
$10,000,000;
(xi) if a deposit or payment is made under item (i) (I)2 THROUGH 5
of this paragraph, an amount equal to the TOTAL deposit or payment UNDER ITEM (I)2
THROUGH 5 OF THIS PARAGRAPH , but not exceeding $27,000,000, to the Department of
Transportation INTO THE BUS RAPID TRANSIT FUND ESTABLISHED UNDE R § 2–802.1
OF THE TRANSPORTATIO N ARTICLE for bus rapid transit system grants in accordance
with § 2–802 of the Transportation Article from the money that remains in the State
Lottery Fund from the proceeds of all lotteries after the distributions under subsection (a)
of this section and items (i) through (x) of this paragraph;
(xii) after June 30, 2023, into the Prince George’s County Blue Line
Corridor Facility Fund established under § 10–657.6 of the Economic Development Article
from the money that remains in the State Lottery Fund from the proceeds of all lotteries
after the distributions under subsection (a) of this section and items (i) through (xi) of this
paragraph, an amount not to exceed $27,000,000 to be paid in two installments not later
than November 1 and June 1 of each fiscal year; and
(xiii) into the General Fund of the State the money that remains in the
State Lottery Fund from the proceeds of all lotteries after the distributions under
subsection (a) of this section and items (i) through (xii) of this paragraph.
(2) The money paid into the General Fund under this subsection is
available in the fiscal year in which the money accumulates in the State Lottery Fund.
(c) The regulations of the Agency shall apportion the money in the State Lottery
Fund in accordance with subsection (b) of this section.
Article – Transportation
2–802.
(a) (1) In this section the following words have the meanings indicated.
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(2) “Bus rapid transit system” means a bus line that operates on at least
some portion of roadway dedicated to buses and offers off–board fare collection OR
ANOTHER FORM OF HIGH EFFICIENCY FARE COLL ECTION if a fare is charged.
(3) “Eligible grantee” means a county or municipal corporation that has:
(i) A bus rapid transit system that operates in the county or
municipal corporation; and
(ii) No ongoing or completed facility, as that term is defined in §
10–601(s)(1), (4), (8), (9), or (10) of the Economic Development Article.
(b) (1) Subject to paragraph (2) of this subsection, if a deposit or payment is
made in accordance with [§ 9–120(b)(1)(i)] § 9–120(B)(1)(I)2 THROUGH 5 of the State
Government Article into the Maryland Stadium Authority Facilities Fund established
under § 7–312 of the State Finance and Procurement Article, AND THERE IS ONLY ON E
ELIGIBLE GRANTEE , then the Department shall award a grant to [an] THE eligible
grantee equal to the amount distributed to the Department under § 9–120(b)(1)(x) §
9–120(B)(1)(XI) of the State Government Article.
(2) (I) IF THERE ARE TWO ELIG IBLE GRANTEES , AND ONE
ELIGIBLE GRANTEE IS MONTGOMERY COUNTY, THE DEPARTMENT SHALL
DISTRIBUTE $20,000,000 TO MONTGOMERY COUNTY AND THE REMAIN ING AMOUNT
OF THE DEPOSIT OR PA YMENT UNDER § 9–120(B)(1)(X) § 9–120(B)(1)(XI) OF THE
STATE GOVERNMENT ARTICLE TO THE REMAIN ING ELIGIBLE GRANTEE .
[(2)] (II) If more than [one county or municipal corporation is an] THREE
COUNTIES OR MUNICIPA L CORPORATIONS ARE eligible [grantee] GRANTEES, AND ONE
ELIGIBLE GRANTEE IS MONTGOMERY COUNTY, then the Department shall distribute
[the]:
1. NOT LESS THAN $20,000,000 TO MONTGOMERY
COUNTY IF MONTGOMERY COUNTY REMAINS AN ELI GIBLE COUNTY ; AND
2. THE total REMAINING amount of the deposit or payment
under § 9–120(b)(1)(x) § 9–120(B)(1)(XI) of the State Government Article to the
REMAINING eligible grantees based on each eligible grantee’s pro rata share of the
statewide population.
(III) IF MONTGOMERY COUNTY IS NOT AN ELIG IBLE GRANTEE ,
AND MORE THAN ONE CO UNTY OR MUNICIPAL CO RPORATION ARE ELIGIB LE
GRANTEES, THEN THE DEPARTMENT SHALL DIST RIBUTE THE TOTAL AMO UNT OF
THE DEPOSIT PAYMENT UNDER § 9–120(B)(1)(X) § 9–120(B)(1)(XI) OF THE STATE WES MOORE, Governor Ch. 112
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GOVERNMENT ARTICLE TO THE ELIGIB LE GRANTEES BASED ON EACH ELIGIBLE
GRANTEE’S PRO RATA SHARE OF THE STATEWIDE POPULA TION.
(3) (I) ELIGIBLE GRANTEES REC EIVING FUNDS IN ACCO RDANCE
WITH THIS SUBSECTION AND § 2–802.1 OF THIS SUBTITLE MAY USE THE GRANT
FUNDS FOR THE:
1. FINANCING AND REFINAN CING OF THE COSTS
RELATED TO THE CONST RUCTION, ACQUISITION, IMPROVEMENT , EQUIPPING,
REHABILITATION , AND EXPANSION OF BUS RAPID TRANSIT SYSTEM PROJECTS;
2. PAYMENT OF DEBT SERVI CE ON BONDS ISSUED T O
FINANCE BUS RAPID TRANSIT SYSTEM PROJE CTS;
3. PAYMENT OF ALL REASON ABLE EXPENSES AND
CHARGES RELATED TO B OND ISSUANCE AND BOR ROWING; AND
4. PAYMENT OF COSTS RELA TING TO THE MANAGEME NT
AND OPERATION OF BUS RAPID TRANSIT SYSTEM PROJECTS.
(II) IF AN ELIGIBLE GRANTEE USES FUNDS U NDER THIS
SECTION FOR THE PAYM ENT OF DEBT SERVICE ON BONDS ISSUED TO F INANCE BUS
RAPID TRANSIT SYSTEM PROJECTS, THE ELIGIBLE GRANTEE SHALL ISSUE BONDS IN
ACCORDANCE WITH AN O RDINANCE OR RESOLUTI ON WHICH MAY SPECIFY ALL
MATTERS RELATING TO THE ADVERTISEMENT , SALE, ISSUANCE, DELIVERY, AND
PAYMENT OF THE BONDS , INCLUDING:
1. THE FORMS, DATES, AND DENOMINATIONS OF THE
BONDS;
2. THE PRINCIPAL MATURIT IES;
3. THE METHODS TO BE USE D IN DETERMINING
INTEREST PAYABLE ON THE BONDS; AND
4. ANY PROVISIONS FOR RE GISTRATION, REDEMPTION
BEFORE STATED MATURI TY, OR THE USE OF FACSIM ILE SIGNATURES OR SE ALS.
(c) The Department:
(1) Shall distribute grants under this section to eligible grantees in a timely
manner; and
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(2) May not impose any additional conditions on an eligible grantee on
receipt of a grant under this section.
2–802.1.
(A) IN THIS SECTION, “FUND” MEANS THE BUS RAPID TRANSIT FUND.
(B) THERE IS A BUS RAPID TRANSIT FUND.
(C) THE PURPOSE OF THE FUND IS TO PROVID E GRANTS TO ELIGIBLE
GRANTEES, AS DEFINED UNDER § 2–802 OF THIS SUBTITLE.
(D) THE DEPARTMENT SHALL ADMI NISTER THE FUND.
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY ,
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND.
(F) THE FUND CONSISTS OF :
(1) REVENUE DISTRIBUTED T O THE FUND UNDER § 9–120(B)(1)(XI)
OF THE STATE GOVERNMENT ARTICLE;
(2) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND;
(3) INTEREST EARNINGS OR OTHER INCOME EARNED FROM THE
INVESTMENT OF ANY MO NEY FROM THE FUND; AND
(4) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR
THE BENEFIT OF THE FUND.
(G) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED.
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO
THE FUND.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2023.
Approved by the Governor, April 24, 2023.