EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G 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.
*hb0735*
HOUSE BILL 735
B5, F2 3lr0113
By: Chair, Appropriations Committee (By Request – Departmental – University
System of Maryland)
Introduced and read first time: February 8, 2023
Assigned to: Appropriations
Committee Report: Favorable with amendments
House action: Adopted
Read second time: March 11, 2023
CHAPTER ______
AN ACT concerning 1
University System of Maryland – Academic Facilities Bonding Authority 2
Facilities – Bonding Authority and Sale 3
FOR the purpose of approving certain projects for the acquisition, development, and 4
improvement of certain academic facilities for the University System of Maryland; 5
approving the issuance of bonds by the University System of Maryland in a certain 6
total principal amount for financing the projects; providing that the bonds are not a 7
debt or obligation of the State or any of its subdivisions; authorizing the Board of 8
Regents of the University System of Maryland to approve the use of money received 9
from the sale of certain property within the System for operating expenses at certain 10
campuses; and generally relating to academic facilities bonding authority of the 11
University System of Maryland and certain projects the sale of System property. 12
BY repealing and reenacting, with amendments, 13
Article – Education 14
Section 12–104(g) 15
Annotated Code of Maryland 16
(2022 Replacement Volume) 17
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 18
That: 19
(a) In accordance with § 19–102(d) of the Education Article, the following project 20
is approved as a project for an academic facility, and the University System of Maryland 21 2 HOUSE BILL 735
may issue, sell, and deliver bonds in the total principal amount of $5,000,000 for the 1
purposes of financing and refinancing the costs of the following project: 2
University of Maryland, College Park (Prince George’s County): 3
Infrastructure Project 4
(b) In accordance with § 19–102(d) of the Education Article, those systemwide 5
capital facilities renewal projects for existing academic facilities of the constituent 6
institutions and centers of the University System of Maryland as authorized by the Board 7
of Regents are hereby approved as facility renewal projects for academic facilities, and the 8
University System of Maryland may issue, sell, and deliver bonds in the total principal 9
amount of $25,000,000 for the purposes of financing and refinancing the costs of those 10
academic facilities renewal projects. 11
(c) The bonds issued under the authority of this Act do not create or constitute 12
any indebtedness or obligation of the State or of any political subdivision thereof except for 13
the University System of Maryland, and the bonds shall so state on their face. The bonds 14
do not constitute a debt or obligation contracted by the General Assembly of Maryland or 15
pledge the faith and credit of the State within the meaning of Article III, § 34 of the 16
Maryland Constitution. 17
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 18
as follows: 19
Article – Education 20
12–104. 21
(g) (1) With the approval of the Board of Public Works, the Board of Regents 22
may sell or exchange any part of its real properties. 23
(2) (I) [Money] EXCEPT AS PROVIDED IN SUBPARAGRAPH (II) OF 24
THIS PARAGRAPH , MONEY received from the sale of property may be used, if approved by 25
the Board of Public Works, only to purchase or improve property and facilities. This money 26
may not be applied to the Annuity Bond Fund Account. 27
(II) IN ADDITION TO THE US ES DESCRIBED UNDER 28
SUBPARAGRAPH (I) OF THIS PARAGRAPH , WITH THE APPROVAL OF THE BOARD OF 29
REGENTS, MONEY RECEIVED FROM THE SALE OF PROPERTY BY A NONRESIDENTIAL 30
CAMPUS IN THE UNIVERSITY SYSTEM OF MARYLAND MAY BE USED FOR OPERATING 31
EXPENSES AT THE NONR ESIDENTIAL CAMPUS . 32
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take effect 33
June 1, 2023. 34
HOUSE BILL 735 3
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
Speaker of the House of Delegates.
________________________________________________________________________________
President of the Senate.