MD
Maryland House Bill HB735

Maryland 2023 Regular Session

Maryland House Bill HB735 Compare Versions

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1- WES MOORE, Governor Ch. 160
21
3-– 1 –
4-Chapter 160
5-(House Bill 735)
62
7-AN ACT concerning
3+EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4+ [Brackets] indicate matter deleted from existing law.
5+ Underlining indicates amendments to bill.
6+ Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7+amendment.
8+ *hb0735*
89
9-University System of Maryland – Academic Facilities Bonding Authority
10-Facilities – Bonding Authority and Sale
10+HOUSE BILL 735
11+B5, F2 3lr0113
1112
12-FOR the purpose of approving certain projects for the acquisition, development, and
13-improvement of certain academic facilities for the University System of Maryland;
14-approving the issuance of bonds by the University System of Maryland in a certain
15-total principal amount for financing the projects; providing that the bonds are not a
16-debt or obligation of the State or any of its subdivisions; authorizing the Board of
17-Regents of the University System of Maryland to approve the use of money received
18-from the sale of certain property within the System for operating expenses at certain
19-campuses; and generally relating to academic facilities bonding authority of the
20-University System of Maryland and certain projects the sale of System property.
13+By: Chair, Appropriations Committee (By Request – Departmental – University
14+System of Maryland)
15+Introduced and read first time: February 8, 2023
16+Assigned to: Appropriations
17+Committee Report: Favorable with amendments
18+House action: Adopted
19+Read second time: March 11, 2023
2120
22-BY repealing and reenacting, with amendments,
23- Article – Education
24- Section 12–104(g)
25- Annotated Code of Maryland
26- (2022 Replacement Volume)
21+CHAPTER ______
2722
28- SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
29-That:
23+AN ACT concerning 1
3024
31- (a) In accordance with § 19–102(d) of the Education Article, the following project
32-is approved as a project for an academic facility, and the University System of Maryland
33-may issue, sell, and deliver bonds in the total principal amount of $5,000,000 for the
34-purposes of financing and refinancing the costs of the following project:
25+University System of Maryland – Academic Facilities Bonding Authority 2
26+Facilities – Bonding Authority and Sale 3
3527
36-University of Maryland, College Park (Prince George’s County):
37-Infrastructure Project
28+FOR the purpose of approving certain projects for the acquisition, development, and 4
29+improvement of certain academic facilities for the University System of Maryland; 5
30+approving the issuance of bonds by the University System of Maryland in a certain 6
31+total principal amount for financing the projects; providing that the bonds are not a 7
32+debt or obligation of the State or any of its subdivisions; authorizing the Board of 8
33+Regents of the University System of Maryland to approve the use of money received 9
34+from the sale of certain property within the System for operating expenses at certain 10
35+campuses; and generally relating to academic facilities bonding authority of the 11
36+University System of Maryland and certain projects the sale of System property. 12
3837
39- (b) In accordance with § 19–102(d) of the Education Article, those systemwide
40-capital facilities renewal projects for existing academic facilities of the constituent
41-institutions and centers of the University System of Maryland as authorized by the Board
42-of Regents are hereby approved as facility renewal projects for academic facilities, and the
43-University System of Maryland may issue, sell, and deliver bonds in the total principal
44-amount of $25,000,000 for the purposes of financing and refinancing the costs of those
45-academic facilities renewal projects.
38+BY repealing and reenacting, with amendments, 13
39+ Article – Education 14
40+ Section 12–104(g) 15
41+ Annotated Code of Maryland 16
42+ (2022 Replacement Volume) 17
4643
47- (c) The bonds issued under the authority of this Act do not create or constitute
48-any indebtedness or obligation of the State or of any political subdivision thereof except for
49-the University System of Maryland, and the bonds shall so state on their face. The bonds Ch. 160 2023 LAWS OF MARYLAND
44+ SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 18
45+That: 19
5046
51-– 2 –
52-do not constitute a debt or obligation contracted by the General Assembly of Maryland or
53-pledge the faith and credit of the State within the meaning of Article III, § 34 of the
54-Maryland Constitution.
47+ (a) In accordance with § 19–102(d) of the Education Article, the following project 20
48+is approved as a project for an academic facility, and the University System of Maryland 21 2 HOUSE BILL 735
5549
56- SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read
57-as follows:
5850
59-Article – Education
51+may issue, sell, and deliver bonds in the total principal amount of $5,000,000 for the 1
52+purposes of financing and refinancing the costs of the following project: 2
6053
61-12–104.
54+University of Maryland, College Park (Prince George’s County): 3
55+Infrastructure Project 4
6256
63- (g) (1) With the approval of the Board of Public Works, the Board of Regents
64-may sell or exchange any part of its real properties.
57+ (b) In accordance with § 19–102(d) of the Education Article, those systemwide 5
58+capital facilities renewal projects for existing academic facilities of the constituent 6
59+institutions and centers of the University System of Maryland as authorized by the Board 7
60+of Regents are hereby approved as facility renewal projects for academic facilities, and the 8
61+University System of Maryland may issue, sell, and deliver bonds in the total principal 9
62+amount of $25,000,000 for the purposes of financing and refinancing the costs of those 10
63+academic facilities renewal projects. 11
6564
66- (2) (I) [Money] EXCEPT AS PROVIDED IN SUBPARAGRAPH (II) OF
67-THIS PARAGRAPH , MONEY received from the sale of property may be used, if approved by
68-the Board of Public Works, only to purchase or improve property and facilities. This money
69-may not be applied to the Annuity Bond Fund Account.
65+ (c) The bonds issued under the authority of this Act do not create or constitute 12
66+any indebtedness or obligation of the State or of any political subdivision thereof except for 13
67+the University System of Maryland, and the bonds shall so state on their face. The bonds 14
68+do not constitute a debt or obligation contracted by the General Assembly of Maryland or 15
69+pledge the faith and credit of the State within the meaning of Article III, § 34 of the 16
70+Maryland Constitution. 17
7071
71- (II) IN ADDITION TO THE US ES DESCRIBED UNDER
72-SUBPARAGRAPH (I) OF THIS PARAGRAPH , WITH THE APPROVAL OF THE BOARD OF
73-REGENTS, MONEY RECEIVED FROM THE SALE OF PROPERTY BY A NONRESIDENTIAL
74-CAMPUS IN THE UNIVERSITY SYSTEM OF MARYLAND MAY BE USED FOR OPERATING
75-EXPENSES AT THE NONR ESIDENTIAL CAMPUS .
72+ SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 18
73+as follows: 19
7674
77- SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
78-June 1, 2023.
75+Article – Education 20
7976
80-Approved by the Governor, April 24, 2023.
77+12–104. 21
78+
79+ (g) (1) With the approval of the Board of Public Works, the Board of Regents 22
80+may sell or exchange any part of its real properties. 23
81+
82+ (2) (I) [Money] EXCEPT AS PROVIDED IN SUBPARAGRAPH (II) OF 24
83+THIS PARAGRAPH , MONEY received from the sale of property may be used, if approved by 25
84+the Board of Public Works, only to purchase or improve property and facilities. This money 26
85+may not be applied to the Annuity Bond Fund Account. 27
86+
87+ (II) IN ADDITION TO THE US ES DESCRIBED UNDER 28
88+SUBPARAGRAPH (I) OF THIS PARAGRAPH , WITH THE APPROVAL OF THE BOARD OF 29
89+REGENTS, MONEY RECEIVED FROM THE SALE OF PROPERTY BY A NONRESIDENTIAL 30
90+CAMPUS IN THE UNIVERSITY SYSTEM OF MARYLAND MAY BE USED FOR OPERATING 31
91+EXPENSES AT THE NONR ESIDENTIAL CAMPUS . 32
92+
93+ SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take effect 33
94+June 1, 2023. 34
95+
96+ HOUSE BILL 735 3
97+
98+
99+
100+
101+
102+Approved:
103+________________________________________________________________________________
104+ Governor.
105+________________________________________________________________________________
106+ Speaker of the House of Delegates.
107+________________________________________________________________________________
108+ President of the Senate.