EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTING LA W.
[Brackets] indicate matter deleted from existing law.
*hb0074*
HOUSE BILL 74
R2 3lr0521
HB 1324/22 – APP & ENT (PRE–FILED)
By: Delegate Korman
Requested: October 11, 2022
Introduced and read first time: January 11, 2023
Assigned to: Appropriations and Environment and Transportation
A BILL ENTITLED
AN ACT concerning 1
Transportation – Maryland Rail Authority – Establishment 2
(Maryland Rail Investment Act of 2023) 3
FOR the purpose of establishing the Maryland Rail Authority and the powers and duties 4
that the Rail Authority, acting on behalf of the Department of Transportation, has 5
with respect to the supervision, financing, construction, operation, maintenance, and 6
repair of railroad facilities projects; making the Executive Director of the Rail 7
Authority a member of the Maryland Transportation Authority; prohibiting the 8
Transportation Authority from passing a budget plan that exceeds a certain amount; 9
requiring the Transportation Authority to obtain the consent of the Rail Authority 10
before issuing certain bonds; requiring the Transportation Authority to determine 11
the optimal tolling rate for certain transportation facilities projects and to set certain 12
tolling rates; requiring the Transportation Authority Fund to be charged with the 13
payment of the cost to maintain the transportation facilities projects in the State; 14
establishing the Rail Authority Fund; requiring certain funds and revenues to be 15
transferred from the Transportation Authority Fund to the Rail Authority Fund; 16
requiring the Rail Authority, in collaboration with the Transportation Authority, to 17
contract with a qualified entity to conduct a study of the State’s toll facilities and 18
related impacts of pollution; requiring the Transportation Authority to hold public 19
hearings and seek public comment on proposed toll rate adjustments that achieve 20
near optimal tolling; and generally relating to the establishment of the Maryland 21
Rail Authority. 22
BY repealing and reenacting, with amendments, 23
Article – Transportation 24
Section 4–101, 4–202, 4–208(b)(1), 4–301, 4–306, 4–312(a)(2), 4–313, and 7–101(j), 25
(l), and (n) 26
Annotated Code of Maryland 27
(2020 Replacement Volume and 2022 Supplement) 28
2 HOUSE BILL 74
BY repealing and reenacting, without amendments, 1
Article – Transportation 2
Section 4–201 and 4–208(a) 3
Annotated Code of Maryland 4
(2020 Replacement Volume and 2022 Supplement) 5
BY adding to 6
Article – Transportation 7
Section 4–205.1; and 9–101 through 9–401 to be under the new title “Title 9. 8
Railroads” 9
Annotated Code of Maryland 10
(2020 Replacement Volume and 2022 Supplement) 11
BY repealing and reenacting, with amendments, 12
Article – Transportation 13
Section 4–314 14
Annotated Code of Maryland 15
(2020 Replacement Volume and 2022 Supplement) 16
(As enacted by Chapter 941 of the Acts of the General Assembly of 1978, as amended 17
by Chapter 29 of the Acts of the General Assembly of 2001, as amended by 18
Chapter 45 of the Acts of the General Assembly of 2014) 19
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 20
That the Laws of Maryland read as follows: 21
Article – Transportation 22
4–101. 23
(a) In this title the following words have the meanings indicated. 24
(b) “Authority” means the Maryland Transportation Authority. 25
(c) “Cost”, as applied to any transportation facilities project, includes the cost of 26
and all expenses incident to the construction, reconstruction, acquisition, improvement, 27
extension, alteration, modernization, planning, maintenance, and repair of the project, 28
including the cost and expenses of: 29
(1) All property acquired in connection with it; 30
(2) Financial, architectural, consulting, engineering, and legal services; 31
(3) Plans, specifications, surveys, estimates, feasibility reports, and direct 32
and indirect labor, material, equipment, and administrative expenses; and 33
(4) Financing the project, including financing charges and interest before, 34
during, and for 1 year after completion of construction. 35 HOUSE BILL 74 3
(D) “NEAR OPTIMAL TOLLING ” MEANS A TOLLING RATE THAT PROVIDES 1
95% OR MORE OF THE MAXIM UM REVENUE POSSIBLE BASED ON A TRANSPO RTATION 2
FACILITIES PROJECT ’S OPTIMAL TOLLING . 3
(E) “OPTIMAL TOLLING ” MEANS A TOLLING RATE FOR A TRANSPORTATION 4
FACILITIES PROJECT T HAT MAXIMIZES REVENU E, AS DETERMINED BY THE 5
AUTHORITY. 6
[(d)] (F) “Outstanding and unpaid” does not include: 7
(1) Bonds purchased and held in sinking funds by or for the Authority; or 8
(2) If the money for their payment or redemption has been provided: 9
(i) Matured bonds not presented for payment; or 10
(ii) Bonds called for redemption but not presented for redemption. 11
(G) “RAIL AUTHORITY” MEANS THE MARYLAND RAIL AUTHORITY. 12
[(e)] (H) “Refunding” means the retirement and cancellation of bonds, including 13
revenue bonds of prior issues, after their acquisition by or for the Authority, whether before, 14
at, or after maturity, either in exchange for other bonds or by payment, purchase, or 15
redemption with the proceeds of the sale of other bonds. 16
[(f)] (I) “Resolution”, as used with respect to the Authority, means a resolution 17
adopted by the affirmative vote of a majority of the appointed members of the Authority 18
and concurred in by the Chairman. 19
[(g)] (J) “Revenue bonds of prior issues” means: 20
(1) “State of Maryland Bridge and Tunnel Revenue Bonds” dated as of 21
October 1, 1954; 22
(2) “State of Maryland Northeastern Expressway Revenue Bonds” dated as 23
of January 1, 1962; 24
(3) “State of Maryland Bridge and Tunnel Revenue Bonds”: 25
(i) “(Series 1968)” dated as of October 1, 1968; and 26
(ii) “(Series 1975)” dated as of July 1, 1975; and 27
(4) Any other revenue bonds issued under the same provisions of law that 28
authorized the issuance of the bonds listed in this subsection. 29 4 HOUSE BILL 74
[(h)] (K) “Transportation facilities project” includes: 1
(1) The Susquehanna River Bridge, the Harry W. Nice/Thomas “Mac” 2
Middleton Potomac River Bridge, the William Preston Lane, Jr. Memorial Chesapeake Bay 3
Bridge and parallel Chesapeake Bay Bridge, the Baltimore Harbor Tunnel, the Fort 4
McHenry Tunnel, the Francis Scott Key Bridge, and the John F. Kennedy Memorial 5
Highway, together with their appurtenant causeways, approaches, interchanges, entrance 6
plazas, toll stations, and service facilities; 7
(2) A vehicle parking facility located in a priority funding area as defined 8
in § 5–7B–02 of the State Finance and Procurement Article; 9
(3) Any other project for transportation facilities that the Authority 10
authorizes to be acquired or constructed; and 11
(4) Any additions, improvements, or enlargements to any of these projects, 12
whenever authorized. 13
[(i)] (L) “Transportation facility” has the meaning stated in § 3–101 of this 14
article. 15
[(j)] (M) “Vehicle parking facility” means a controlled entrance and exit 16
building, structure, surface lot, and other facility for parking vehicles, for which fees or 17
charges are established for the use of the facility. 18
4–201. 19
There is a Maryland Transportation Authority. 20
4–202. 21
(a) The Secretary of Transportation is the Chairman of the Authority. 22
(b) (1) In addition to the Chairman, the Authority consists of [eight]: 23
(I) EIGHT members appointed by the Governor with the advice and 24
consent of the Senate; AND 25
(II) THE EXECUTIVE DIRECTOR OF THE RAIL AUTHORITY, WHO 26
SERVES AS AN EX OFFI CIO MEMBER . 27
(2) The appointed members of the Authority may not be employees of the 28
Executive Branch of the State government. 29
(3) Of the appointed members: 30 HOUSE BILL 74 5
(i) One shall have expertise in structural engineering; 1
(ii) One shall have expertise in transportation planning; 2
(iii) One shall have expertise in land use planning; and 3
(iv) One shall have expertise in finance. 4
(4) The appointed members of the Authority shall reflect the racial, gender, 5
and geographic diversity of the population of the State. 6
(c) (1) Each appointed member serves for a term of 4 years and until a 7
successor is appointed and qualifies. 8
(2) The terms of the appointed members are staggered as required by the 9
terms provided for members of the Authority on January 1, 2007. 10
(3) An appointed member may not serve more than three consecutive 11
terms. 12
(4) A member appointed to fill a vacancy in an unexpired term serves only 13
for the remainder of that term. 14
(d) [A] AN APPOINTED member of the Authority is entitled to: 15
(1) The compensation provided in the State budget; and 16
(2) Reimbursement for expenses, in accordance with the Standard State 17
Travel Regulations of the Department of Budget and Management. 18
4–205.1. 19
THE AUTHORITY MAY NOT PAS S AN OPERATING BUDGE T OR A CAPITAL 20
IMPROVEMENT PLAN THA T EXCEEDS $2,800,000,000. 21
4–208. 22
(a) (1) There is a Maryland Transportation Authority Police Force. 23
(2) Subject to subsection (b) of this section, a Maryland Transportation 24
Authority police officer has all the powers granted to a peace officer and a police officer of 25
this State. 26
(b) (1) A Maryland Transportation Authority police officer may exercise the 27
powers described in subsection (a)(2) of this section on property owned, leased, or operated 28
by or under the control of the Maryland Transportation Authority, Maryland Aviation 29 6 HOUSE BILL 74
Administration, MARYLAND RAIL AUTHORITY, and Maryland Port Administration. 1
4–301. 2
By one or more resolutions, the Authority, AFTER OBTAINING THE CONSENT OF 3
THE RAIL AUTHORITY, may: 4
(1) Finance the cost of transportation facilities projects; 5
(2) Borrow money from time to time for that purpose; and 6
(3) Evidence the borrowing by the issuance and sale of revenue bonds, 7
notes, or other evidences of obligation on the terms, conditions, and limitations contained 8
in this subtitle. 9
4–306. 10
(a) Except as provided in subsection (b) of this section, revenue bonds may be 11
issued by the Authority: 12
(1) Without obtaining the consent of any instrumentality, agency, or unit 13
of this State; and 14
(2) Without any proceedings or the happening of any conditions or things 15
other than those specifically required by this subtitle. 16
(b) (1) THE AUTHORITY SHALL OBTAI N THE CONSENT OF THE RAIL 17
AUTHORITY BEFORE ISSU ING REVENUE BONDS . 18
(2) (i) Subject to subparagraph (ii) of this paragraph, revenue bonds 19
secured by toll revenue may be issued in any amount as long as the aggregate outstanding 20
and unpaid principal balance of the revenue bonds secured by toll revenue and revenue 21
bonds of prior issues does not exceed $3,000,000,000 or, in fiscal years 2015 through 2020, 22
$2,325,000,000, on June 30 of any year. 23
(ii) The maximum aggregate amount of revenue bonds that may be 24
outstanding and unpaid under subparagraph (i) of this paragraph shall be reduced by the 25
amount of: 26
1. Any loan extended to the State under the federal 27
Transportation Infrastructure Finance and Innovation Act; and 28
2. Any line of credit extended to the State under the federal 29
Transportation Infrastructure Finance and Innovation Act, to the extent the State draws 30
on the line of credit. 31
HOUSE BILL 74 7
[(2)] (3) Except as otherwise provided in this section and § 4–205 of this 1
title, without the approval of the General Assembly, the Authority, AFTER OBTAINING 2
THE CONSENT OF THE RAIL AUTHORITY, may issue bonds to refinance all or any part of 3
the cost of a transportation [facility] FACILITIES project for which the Authority previously 4
issued bonds authorized under this subtitle. 5
4–312. 6
(a) (2) (I) As to all or any part of any transportation facilities project, the 7
Authority may: 8
[(i)] 1. Fix, revise, charge, and collect rentals, rates, fees, tolls, 9
and other charges and revenues for its use or for its services; and 10
[(ii)] 2. Contract with any person who desires its use for any 11
purpose and fix the terms, conditions, rentals, rates, fees, tolls, or other charges or revenues 12
for this use. 13
(II) 1. EXCEPT AS PROVIDED IN SUBSU BPARAGRAPH 2 OF 14
THIS SUBPARAGRAPH , AS TO ALL OR ANY PAR T OF ANY TRANSPORTAT ION 15
FACILITIES PROJECT I N WHICH THE AUTHORITY CHARGES TOL LS, THE AUTHORITY 16
SHALL: 17
A. DETERMINE THE OPTIMAL TOLLING RATE FOR THE 18
TRANSPORTATION FACIL ITIES PROJECT; AND 19
B. SET TOLLING RATES THA T ACHIEVE NEAR OPTIM AL 20
TOLLING. 21
2. A. THIS SUBSUBPARAGRAPH DOES NOT APPLY TO 22
THE I–495 AND I–270 PUBLIC–PRIVATE PARTNERSHIP. 23
B. THE AUTHORITY MAY FIX COM MUTER DISCOUNT 24
RATES. 25
4–313. 26
(a) (1) All rentals, rates, fees, tolls, and other charges and revenues derived 27
from any transportation facilities project shall be set aside in a fund known as the 28
“Transportation Authority Fund”, except to the extent that they are pledged under an 29
applicable trust agreement to secure either: 30
(i) Revenue bonds issued under this subtitle if the trust agreement 31
or bond authorizing resolution expressly provides that this section does not apply to those 32
bonds; or 33 8 HOUSE BILL 74
(ii) Revenue bonds of prior issues. 1
(2) The Transportation Authority Fund shall be pledged to and charged 2
with the payment of: 3
(i) The interest on bonds issued under this subtitle as it falls due; 4
(ii) The principal of the bonds as it falls due; 5
(iii) The necessary charges of paying agents for paying principal and 6
interest; [and] 7
(iv) The redemption price or purchase price of bonds retired by call 8
or purchase as provided in the bond authorizing resolution or trust agreement; AND 9
(V) THE COST TO MAINTAIN THE TRANSPORTATION F ACILITIES 10
PROJECTS IN THE STATE. 11
(b) (1) The pledge is valid and binding from the time it is made. 12
(2) Rentals, rates, fees, tolls, and other charges and revenues or other 13
money so pledged and later received by the Authority immediately shall be subject to the 14
lien of the pledge without physical delivery or any further act. 15
(3) The lien of the pledge is valid and binding as against all parties having 16
any claims of any kind in tort, contract, or otherwise against the Authority, whether or not 17
these parties have notice of the pledge. 18
(4) Notwithstanding any law to the contrary, neither the resolution nor any 19
trust agreement by which a pledge is created need be filed or recorded other than in the 20
records of the Authority. 21
(c) (1) Any amount set aside in the Transportation Authority Fund that is not 22
needed to provide for the payment of the items specified in subsections (a)(2) and (b) of this 23
section [may] SHALL be transferred, upon the recommendation of the Secretary and after 24
the approval of the Board of Public Works, to the [Transportation Trust] RAIL 25
AUTHORITY Fund to be used as appropriated by the General Assembly unless prohibited 26
by any applicable resolution or trust agreement. 27
(2) The use and disposition of money to the credit of the Transportation 28
Authority Fund is subject to the provision of the applicable bond authorizing resolution or 29
trust agreement. 30
4–314. 31
HOUSE BILL 74 9
(a) Without in any way limiting or restricting its effect or application, this subtitle 1
is intended to authorize the Authority to finance any one or more or any combination of 2
transportation facilities projects by any one or more or combination of issues or series of 3
bonds secured by the pledge of the net or gross or any combination of the net or gross 4
rentals, rates, fees, tolls, and other charges and revenues derived from any transportation 5
facilities project or combination of projects designated by any bond authorizing resolution 6
or trust agreement securing the bonds. 7
(b) However, all funds collected from rentals, rates, fees, tolls, and other charges 8
and revenues which are not needed to meet the costs which they are required to meet under 9
§ 4–312 of this subtitle or any trust agreement and are not needed to meet obligations of 10
the Transportation Authority Fund, may be used in the discretion of the Secretary to 11
provide adequate and complete payment of all principal and interest on all bonds issued in 12
connection with the John F. Kennedy Memorial Highway and any project constructed under 13
the provisions of Section 3 (Bridge, Tunnel, and Motorway Revenue Bonds) of Chapter 608, 14
of the Acts of the General Assembly of 1976. All such remaining funds thereafter remaining 15
[may] SHALL be transferred[, upon the recommendation of the Secretary and after the 16
approval of the Board of Public Works,] to the [Transportation Trust] RAIL AUTHORITY 17
Fund and may be used for any purpose to which funds in the [Transportation Trust] RAIL 18
AUTHORITY Fund may be applied. 19
7–101. 20
(j) [(1)] “Railroad facility” means any facility used in providing railroad 21
services, and includes any one or more or combination of: 22
[(i)] (1) Switches, spurs, tracks, structures, terminals, yards, real 23
property, and other facilities useful or designed for use in connection with the 24
transportation of persons or goods by rail; and 25
[(ii)] (2) All other appurtenances, including locomotives, cars, 26
vehicles, and other instrumentalities of shipment or carriage, useful or designed for use in 27
connection with the transportation of persons or goods by rail. 28
[(2) “Railroad facility” does not include any transit facility.] 29
(l) “Transit facility” includes any one or more or combination of tracks, 30
rights–of–way, bridges, tunnels, subways, rolling stock, stations, terminals, ports, parking 31
areas, equipment, fixtures, buildings, structures, other real or personal property, and 32
services incidental to or useful or designed for use in connection with the rendering of 33
transit service by any means, including rail, bus, motor vehicle, or other mode of 34
transportation[, but does not include any railroad facility]. 35
(n) (1) “Transit service” means the transportation of persons and their 36
packages and baggage and of newspapers, express, and mail in regular route, special, or 37
charter service by means of transit facilities between points within the District. 38 10 HOUSE BILL 74
(2) “Transit service” does not include any[: 1
(i) Vanpool] VANPOOL operation[; or 2
(ii) Railroad service]. 3
TITLE 9. RAILROADS. 4
SUBTITLE 1. DEFINITIONS. 5
9–101. 6
(A) IN THIS TITLE THE FOL LOWING WORDS HAVE TH E MEANINGS 7
INDICATED. 8
(B) “ADMINISTRATION ” MEANS THE MARYLAND TRANSIT 9
ADMINISTRATION . 10
(C) “COST”, AS APPLIED TO ANY RA ILROAD FACILITIES PR OJECT, INCLUDES 11
THE COST OF AND ALL EXPENSES INCIDENT TO THE CONSTRUCTION , 12
RECONSTRUCTION , ACQUISITION, IMPROVEMENT , EXTENSION, ALTERATION, 13
MODERNIZATION , PLANNING, MAINTENANCE , AND REPAIR OF THE PR OJECT, 14
INCLUDING THE COST A ND EXPENSES OF : 15
(1) ALL PROPERTY ACQUIRED IN CONNECTION WITH T HE PROJECT; 16
(2) FINANCIAL, ARCHITECTURAL , CONSULTING, ENGINEERING , AND 17
LEGAL SERVICES ; 18
(3) PLANS, SPECIFICATIONS , SURVEYS, ESTIMATES, FEASIBILITY 19
REPORTS, AND DIRECT AND INDIR ECT LABOR , MATERIAL, EQUIPMENT, AND 20
ADMINISTRATIVE EXPEN SES; AND 21
(4) FINANCING THE PROJECT , INCLUDING FINANCING CHARGES AND 22
INTEREST BEFORE , DURING, AND FOR 1 YEAR AFTER COMPLETIO N OF 23
CONSTRUCTION . 24
(D) “RAIL AUTHORITY” MEANS THE MARYLAND RAIL AUTHORITY. 25
(E) “RAILROAD FACILITIES P ROJECT” INCLUDES: 26
(1) (I) THE BRUNSWICK, CAMDEN, OR PENN LINES OF THE 27
MARYLAND AREA RAIL COMMUTER (MARC) SERVICE; 28 HOUSE BILL 74 11
(II) EXTENDING MARC SERVICE; 1
(III) THE RED LINE; AND 2
(IV) THE SOUTHERN MARYLAND RAPID TRANSIT SYSTEM; AND 3
(2) ANY ADDITIONS, IMPROVEMENTS , OR ENLARGEMENTS TO A NY OF 4
THE PROJECTS LISTED UNDER ITEM (1) OF THIS SUBSECTION , WHENEVER 5
AUTHORIZED . 6
(F) “RED LINE” MEANS A RAIL TRANSIT FACILITY USING LIGHT RAIL 7
TRANSIT OR HEAVY RAI L TRANSIT IDENTIFIED BY THE ADMINISTRATION AS AN 8
OPTION FOR PUBLIC TR ANSPORTATION IN THE EAST–WEST CORRIDOR STUDY 9
INCLUDED IN THE CENTRAL MARYLAND REGIONAL TRANSIT PLAN. 10
(G) “TRANSPORTATION AUTHORITY” MEANS THE MARYLAND 11
TRANSPORTATION AUTHORITY. 12
SUBTITLE 2. ORGANIZATION AND POWERS AND DUTIES. 13
9–201. 14
THERE IS A MARYLAND RAIL AUTHORITY. 15
9–202. 16
(A) (1) THE SECRETARY IS THE CHAI R OF THE RAIL AUTHORITY. 17
(2) THE SECRETARY SHALL DESIG NATE AN EXECUTIVE DIRECTOR 18
OF THE RAIL AUTHORITY. 19
(B) (1) IN ADDITION TO THE CH AIR, THE RAIL AUTHORITY CONSISTS OF 20
THE FOLLOWING MEMBER S: 21
(I) 1. ONE MEMBER WITH A BACKGROUND IN TRANSI T, 22
APPOINTED BY THE PRESIDENT OF THE SENATE; AND 23
2. ONE MEMBER WITH A BAC KGROUND IN TRANSIT , 24
APPOINTED BY THE SPEAKER OF THE HOUSE; AND 25
(II) AS EX OFFICIO MEMBERS : 26
12 HOUSE BILL 74
1. THE MARYLAND TRANSIT ADMINISTRATOR ; 1
2. THE GENERAL MANAGER OF THE WASHINGTON 2
METROPOLITAN AREA TRANSIT AUTHORITY, OR THE GENERAL MANAG ER’S 3
DESIGNEE; 4
3. THE CEO OF THE NATIONAL RAILROAD PASSENGER 5
CORPORATION , OR THE CEO’S DESIGNEE; 6
4. THE EXECUTIVE DIRECTOR OF THE 7
TRANSPORTATION AUTHORITY; 8
5. THE STATE TREASURER, OR THE STATE 9
TREASURER’S DESIGNEE; AND 10
6. THE EXECUTIVE DIRECTOR OF THE RAIL 11
AUTHORITY. 12
(2) THE MEMBERS APPOINTED BY THE PRESIDENT OF THE SENATE 13
AND THE SPEAKER OF THE HOUSE SHALL: 14
(I) REFLECT THE GEOGRAPHI C DIVERSITY OF THE STATE, TO 15
THE EXTENT PRACTICAB LE; AND 16
(II) HAVE A BACKGROUND IN TRANSIT, RAIL, OR 17
TRANSPORTATION PROJE CT FINANCE. 18
(C) (1) THE TERM OF AN APPOIN TED MEMBER IS 4 YEARS. 19
(2) AN APPOINTED MEMBER M AY NOT SERVE MORE TH AN THREE 20
CONSECUTIVE TERMS . 21
(3) AT THE END OF A TERM , A MEMBER CONTINUES T O SERVE UNTIL 22
A SUCCESSOR IS APPOI NTED AND QUALIFIES . 23
(4) A MEMBER WHO IS APPOIN TED AFTER A TERM HAS BEGUN SERVES 24
ONLY FOR THE REST OF THE TERM AND UNTIL A SUCCESSOR IS APPOINT ED AND 25
QUALIFIES. 26
(D) AN APPOINTED MEMBER OF T HE RAIL AUTHORITY IS ENTITLED TO: 27
(1) THE COMPENSATION PROV IDED IN THE STATE BUDGET ; AND 28
HOUSE BILL 74 13
(2) REIMBURSEMENT FOR EXP ENSES, UNDER THE STANDARD STATE 1
TRAVEL REGULATIONS, AS PROVIDED IN THE STATE BUDGET . 2
(E) (1) THE STATE ETHICS COMMISSION SHALL PROVIDE A TRAINING 3
COURSE FOR RAIL AUTHORITY MEMBERS ON STATE AND LOCAL ETHIC S LAWS, 4
REGULATIONS , AND POLICIES, INCLUDING: 5
(I) GENERAL ETHICS REQUIR EMENTS; 6
(II) FINANCIAL DISCLOSURES ; 7
(III) CONFLICTS OF INTEREST ; AND 8
(IV) ANY OTHER AREA THE STATE ETHICS COMMISSION 9
CONSIDERS APPROPRIAT E. 10
(2) WITHIN 6 MONTHS AFTER BEING A PPOINTED TO THE RAIL 11
AUTHORITY, A MEMBER SHALL : 12
(I) FILE A FINANCIAL DISC LOSURE STATEMENT ; AND 13
(II) COMPLETE THE TRAINING COURSE. 14
(F) THE RAIL AUTHORITY IS SUBJECT TO THE OPEN MEETINGS ACT 15
UNDER TITLE 3 OF THE GENERAL PROVISIONS ARTICLE. 16
9–203. 17
(A) THE RAIL AUTHORITY IS ENTITLED TO THE STAFF PROVIDE D IN THE 18
STATE BUDGET . 19
(B) THE SECRETARY SHALL PROVI DE THE RAIL AUTHORITY WITH THE 20
PERSONNEL O F THE DEPARTMENT THAT THE SECRETARY CONSIDERS N ECESSARY 21
FOR PERFORMANCE OF T HE MAINTENANCE AND O THER FUNCTIONS REQUI RED OF 22
THE RAIL AUTHORITY TO MEET ITS OBLIGATIONS WITH RES PECT TO ITS RAILROAD 23
FACILITIES PROJECTS . 24
9–204. 25
(A) (1) ACTING ON BEHALF OF T HE DEPARTMENT , THE RAIL AUTHORITY 26
HAS THOSE POWERS AND DUTIES RELATING TO T HE SUPERVISION , FINANCING, 27
CONSTRUCTION , OPERATION, MAINTENANCE , AND REPAIR OF RAILRO AD FACILITIES 28
PROJECTS AS ARE GRAN TED TO IT BY THIS TITLE. 29 14 HOUSE BILL 74
(2) THE RAIL AUTHORITY MAY : 1
(I) DELEGATE PROJECT OPER ATIONS, MAINTENANCE , AND 2
REPAIR TO THE ADMINISTRATION ; AND 3
(II) USE FARE REVENUE TO P ROVIDE THE ADMINISTRATION 4
WITH PAYMENTS FOR PR OJECT OPERATIONS, MAINTENANCE , AND REPAIR. 5
(B) THE RAIL AUTHORITY HAS GENERAL SUPERVISION OF THE F OLLOWING 6
RAILROAD FACILITIES PROJECTS: 7
(1) EXTENDING MARYLAND AREA RAIL COMMUTER (MARC) 8
SERVICE, INCLUDING EXTENDING RAIL SERVICE TO: 9
(I) NEWARK, DELAWARE; 10
(II) NORTHERN VIRGINIA; AND 11
(III) WESTERN MARYLAND; 12
(2) MAKING IMPROVEMENTS T O THE BRUNSWICK, CAMDEN, OR 13
PENN LINES OF THE MARC SERVICE; 14
(3) PLANNING, DESIGNING, ENGINEERING , CONSTRUCTING , 15
OPERATING, AND MAINTAINING THE SOUTHERN MARYLAND RAPID TRANSIT 16
SYSTEM; AND 17
(4) PLANNING, DESIGNING, ENGINEERING , CONSTRUCTING , 18
OPERATING, AND MAINTAINING THE RED LINE. 19
(C) THE RAIL AUTHORITY SHALL FINAN CE, CONSTRUCT, OPERATE, 20
REPAIR, AND MAINTAIN IN GOOD ORDER THE RAILROAD F ACILITIES PROJECTS 21
LISTED IN THIS SECTI ON. 22
(D) THE RAIL AUTHORITY SHALL, TO THE EXTENT PRACTI CABLE, ADHERE 23
TO THE TRANSIT PLANS PREPARED UNDER TITLE 7, SUBTITLE 3 OF THIS ARTICLE. 24
9–205. 25
(A) SUBJECT TO § 9–306 OF THIS TITLE AND IN ADDITION TO THE POWE RS 26
OTHERWISE SPECIFICAL LY GRANTED BY LAW , THE RAIL AUTHORITY HAS THE 27
POWERS DESCRIBED IN THIS SECTION. 28 HOUSE BILL 74 15
(B) THE RAIL AUTHORITY MAY ACQUIRE , HOLD, AND DISPOSE OF 1
PROPERTY IN THE EXER CISE OF ITS POWERS A ND PERFORMANCE OF IT S DUTIES. 2
(C) (1) SUBJECT TO THE LIMITA TIONS DESCRIBED IN P ARAGRAPH (2) OF 3
THIS SUBSECTION , THE RAIL AUTHORITY MAY MAKE AN Y CONTRACTS AND 4
AGREEMENTS NECESSARY OR INCIDENTAL TO THE EXERCISE OF ITS POWE RS AND 5
PERFORMANCE OF ITS D UTIES. 6
(2) NOT LESS THAN 45 DAYS BEFORE ENTERING INTO ANY CONTRACT 7
OR AGREEMENT TO ACQU IRE OR CONSTRUCT A R EVENUE–PRODUCING PASSENGER 8
RAIL OR TRANSIT PROJ ECT, THE RAIL AUTHORITY SHALL PROVI DE, IN 9
ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, TO THE 10
SENATE BUDGET AND TAXATION COMMITTEE, THE HOUSE WAYS AND MEANS 11
COMMITTEE, AND THE HOUSE APPROPRIATIONS COMMITTEE, FOR REVIEW AND 12
COMMENT, AND TO THE DEPARTMENT OF LEGISLATIVE SERVICES A DESCRIPTIO N 13
OF THE PROPOSED PROJ ECT, A SUMMARY OF THE CON TRACT OR AGREEMENT , AND 14
A FINANCING PLAN THA T DETAILS: 15
(I) THE ESTIMATED ANNUAL REVENUE FROM THE ISS UANCE OF 16
BONDS TO FINANCE T HE PROJECT; AND 17
(II) THE ESTIMATED IMPACT OF THE ISSUANCE OF B ONDS TO 18
FINANCE THE PROJECT ON THE BONDING CAPAC ITY OF THE RAIL AUTHORITY. 19
(D) (1) (I) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION , THE 20
RAIL AUTHORITY MAY EMPLOY AND FIX THE COMPENSA TION OF ATTORNEYS , 21
CONSULTING ENGINEERS , ACCOUNTANTS , CONSTRUCTION AND FIN ANCIAL 22
EXPERTS, SUPERINTENDENTS , MANAGERS, AND ANY OTHER AGENTS AND 23
EMPLOYEES THAT IT CO NSIDERS NECESSARY TO EXERCISE ITS POWERS AND 24
PERFORM ITS DUTIES . 25
(II) THE COMPENSATION ESTA BLISHED BY THE RAIL 26
AUTHORITY FOR EXECUTI VE MANAGEMENT POSITI ONS SHALL BE CONSIST ENT WITH 27
THE COMPENSATION OF COMPARABLE POSITIONS IN THE DEPARTMENT . 28
(III) THE COMPENSATION ESTA BLISHED BY THE RAIL 29
AUTHORITY SHALL BE RE PORTED TO THE GENERAL ASSEMBLY EACH Y EAR AS PART 30
OF THE RAIL AUTHORITY’S PRESENTATION OF IT S BUDGET. 31
(2) THE EXPENSE OF EMPLOY ING THESE PERSONS MA Y BE PAID ONLY 32
FROM REVENUES OR FRO M THE PROCEEDS OF RE VENUE BONDS ISSUED B Y THE 33
RAIL AUTHORITY. 34 16 HOUSE BILL 74
(E) THE RAIL AUTHORITY MAY APPLY F OR AND RECE IVE GRANTS FROM 1
ANY FEDERAL AGENCY F OR THE PLANNING , CONSTRUCTION , OPERATION, OR 2
FINANCING OF ANY PAS SENGER RAIL OR TRANS IT PROJECT AND MAY R ECEIVE AID 3
OR CONTRIBUTIONS OF MONEY, PROPERTY, LABOR, OR OTHER THINGS OF V ALUE 4
FROM ANY SOURCE , TO BE HELD, USED, AND APPLIED FOR THE PURPOSES FOR 5
WHICH THE GRANTS , AID, AND CONTRIBUTIONS AR E MADE. 6
(F) THE RAIL AUTHORITY MAY ADOPT R ULES AND REGULATIONS TO CARRY 7
OUT THE PROVISIONS O F THIS TITLE. 8
(G) THE RAIL AUTHORITY MAY DO ANYT HING ELSE NECESSARY OR 9
CONVENIENT TO CARRY OUT THE POWERS GRANTED IN THIS TITL E. 10
9–206. 11
SUBJECT TO TITLE 12 OF THE REAL PROPERTY ARTICLE AND CHAPTER 608 12
OF THE ACTS OF THE GENERAL ASSEMBLY OF 1976, THE RAIL AUTHORITY MAY 13
CONDEMN PROPERTY FOR ANY RAILROAD FACILIT IES PROJECT AUTHORIZ ED TO BE 14
FINANCED WITH REVENU E BONDS OF PRIOR ISS UES. 15
9–207. 16
EXCEPT FOR WATER AND SEWER CHARGES IMPOSE D BY THE STATE OR ANY OF 17
ITS AGENCIES OR POLI TICAL SUBDIVISIONS , THE RAIL AUTHORITY, ITS ACTIVITIES, 18
AND THE PROPERTY IT OWNS OR CONTROLS ARE EXEMPT FROM ALL TAXES, 19
ASSESSMENTS , AND CHARGES , WHETHER FEDERAL , STATE, OR LOCAL, NOW OR 20
SUBSEQUENTLY LEVIED OR IMPOSED. 21
9–208. 22
THE RAIL AUTHORITY MAY CONTRAC T WITH THE ADMINISTRATION TO 23
AUTHORIZE TRANSPORTATION AUTHORITY POLICE OFFI CERS TO EXERCISE THE 24
POWERS DESCRIBED UND ER § 4–208 OF THIS ARTICLE ON P ROPERTY OWNED , 25
LEASED, OR OPERATED BY OR UN DER THE CONTROL OF T HE RAIL AUTHORITY. 26
9–209. 27
(A) ON OR BEFORE SEPTEMBER 1 EACH YEAR, THE RAIL AUTHORITY, IN 28
COLLABORATION WITH T HE TRANSPORTATION AUTHORITY, SHALL DEVELOP AND , 29
SUBJECT TO APPROVAL OF THE TRANSPORTATION AUTHORITY, ADOPT A 6–YEAR 30
FINANCIAL FORECAST F OR THE OPERATIONS OF THE RAIL AUTHORITY. 31
HOUSE BILL 74 17
(B) IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, 1
THE RAIL AUTHORITY SHALL SUBMI T TO THE GENERAL ASSEMBLY: 2
(1) A DRAFT OF THE FINANCI AL FORECAST ON SUBMI SSION OF THE 3
BUDGET BILL TO THE P RESIDING OFFICERS OF THE GENERAL ASSEMBLY; AND 4
(2) THE FINANCIAL FORECAS T AS APPROVED BY THE RAIL 5
AUTHORITY ON OR BEFOR E SEPTEMBER 1 EACH YEAR. 6
(C) THE FINANCIAL FORECAS T SHALL INCLUDE THE FOLLOWING 7
COMPONENTS : 8
(1) A SCHEDULE OF OPERATIN G EXPENSES; 9
(2) A SCHEDULE OF REVENUES , INCLUDING CONCESSION S INCOME, 10
INVESTMENT INCOME , OTHER INCOME , AND TRANSFERS FROM T HE DEPARTMENT ; 11
(3) A SCHEDULE OF PLANNED BOND ISSUANCES , INCLUDING A 12
DETAILED SUMMARY OF BONDS ISSUED TO FUND THE CAPITAL PROGRAM AND 13
BONDS ISSUED TO FUND CAPITALIZED INTEREST; 14
(4) A SCHEDULE OF DEBT SER VICE IN EACH FISCAL YEAR FOR EACH 15
BOND ISSUANCE OF ALL DEBT ISSUED BY THE RAIL AUTHORITY, INCLUDING DEBT 16
SERVICE ESTIMATES OF PLANNED BOND ISSUANC ES; AND 17
(5) A SUMMARY SCHEDULE FOR THE RAIL AUTHORITY THAT 18
INCLUDES: 19
(I) THE TOTAL CASH BALANC E; 20
(II) THE AMOUNT OF THE CAS H BALANCE THAT IS 21
ENCUMBERED ; 22
(III) THE ANNUAL CASH SURPL US OR DEFICIT; 23
(IV) REVENUES; 24
(V) TRANSFERS TO THE DEPARTMENT FROM THE RAIL 25
AUTHORITY; 26
(VI) TRANSFERS TO THE RAIL AUTHORITY FROM THE 27
DEPARTMENT ; 28
18 HOUSE BILL 74
(VII) BOND SALES; 1
(VIII) EXPENDITURES FOR DEBT SERVICE; 2
(IX) OPERATING EXPENSES ; 3
(X) CAPITAL EXPENSES ; 4
(XI) MAINTENANCE AND OPERA TIONS EXPENSE RESERV E 5
ACCOUNTS; 6
(XII) FORECASTED BOND INTER EST RATES; 7
(XIII) TOTAL BONDS OUTSTANDI NG; AND 8
(XIV) FINANCIAL COVERAGE RA TIOS, INCLUDING THE RATIO OF 9
TOTAL CASH TO FARE R EVENUES, THE DEBT SERVICE COV ERAGE RATIO, AND THE 10
RATE COVENANT COMPLI ANCE RATIO. 11
(D) THE FINANCIAL FORECAS T SHALL INCLUDE , FOR EACH OF TH E 12
COMPONENTS SPECIFIED IN SUBSECTION (C) OF THIS SECTION: 13
(1) ACTUAL INFORMATION FO R THE LAST FULL FISC AL YEAR; AND 14
(2) FORECASTS OF THE INFO RMATION FOR EACH OF THE 6 15
SUBSEQUENT FISCAL YE ARS, INCLUDING THE CURREN T FISCAL YEAR, THE FISCAL 16
YEAR FOR THE PROPOSED BUDGET , AND THE NEXT 4 SUBSEQUENT FISCAL YE ARS. 17
9–210. 18
(A) THE RAIL AUTHORITY SHALL EMPLO Y A GENERAL COUNSEL WHO 19
SERVES AT THE PLEASU RE OF THE SECRETARY. 20
(B) THE GENERAL COUNSEL I S ENTITLED TO THE CO MPENSATION 21
DETERMINED BY THE EXECUTIVE DIRECTOR OF THE RAIL AUTHORITY. 22
9–211. 23
(A) THE RAIL AUTHORITY SHALL MAKE PUBLICLY AVAILABLE O N ITS 24
WEBSITE: 25
(1) EACH OPEN MEETING AGE NDA: 26
HOUSE BILL 74 19
(I) AT LEAST 48 HOURS IN ADVANCE OF EACH MEETING ; OR 1
(II) IF THE MEETING IS BEI NG HELD DUE TO AN EMERGENCY , A 2
NATURAL DISASTER , OR ANY OTHER UNANTIC IPATED SITUATION , AS FAR IN 3
ADVANCE OF THE MEETI NG AS PRACTICABLE ; 4
(2) MEETING MINUTES FROM THE PORTIONS OF A ME ETING THAT 5
WERE HELD IN OPEN SE SSION, NOT MORE THAN 2 BUSINESS DAYS AFTER THE 6
MINUTES ARE APPROVED; 7
(3) LIVE VIDEO STREAMING OF EACH OPEN MEETING OF THE RAIL 8
AUTHORITY THAT IS HEL D AT: 9
(I) THE HEADQUARTERS OF T HE RAIL AUTHORITY; OR 10
(II) ANY OTHER LOCATION WH ERE THE RAIL AUTHORITY HELD 11
AT LEAST 10 MEETINGS DURING THE IMMEDIATELY PRECEDING CALENDAR Y EAR; 12
AND 13
(4) A COMPLETE AND UNEDITE D ARCHIVED VIDEO REC ORDING OF 14
EACH OPEN MEETING FO R WHICH LIVE VIDEO S TREAMING WAS MADE AV AILABLE 15
UNDER ITEM (3) OF THIS SUBSECTION F OR A MINIMUM OF 5 YEARS AFTER THE DATE 16
OF THE MEETING . 17
(B) THE DEPARTMENT OF INFORMATION TECHNOLOGY SHALL PROV IDE TO 18
THE RAIL AUTHORITY THE TECHNIC AL STAFF, SUPPORT, AND EQUIPMENT 19
NECESSARY TO LIVESTR EAM THE OPEN MEETING S OF THE RAIL AUTHORITY. 20
SUBTITLE 3. FINANCING OF PROJECTS. 21
9–301. 22
BY ONE OR MORE RESOLU TIONS, THE RAIL AUTHORITY MAY : 23
(1) FINANCE THE COST OF R AILROAD FACILITIES P ROJECTS; 24
(2) BORROW MONEY FROM TIM E TO TIME FOR THAT P URPOSE; AND 25
(3) EVIDENCE THE BORROWIN G BY THE ISSUANCE AN D SALE OF 26
REVENUE BONDS , NOTES, OR OTHER EVIDENCES O F OBLIGATION ON THE TERMS, 27
CONDITIONS, AND LIMITATIONS CONT AINED IN THIS SUBTIT LE. 28
9–302. 29 20 HOUSE BILL 74
(A) EXCEPT AS PROVIDED IN § 9–306(B) OF THIS SUBTITLE , WITHOUT 1
LIMITING THE POWER O F THE RAIL AUTHORITY TO ISSUE AD DITIONAL REVENUE 2
BONDS UNDER THE PROV ISIONS OF LAW THAT AUTHORIZE THE ISSUAN CE OF 3
REVENUE BONDS OF PRI OR ISSUES, THE RAIL AUTHORITY FROM TIME T O TIME MAY 4
ISSUE ITS REVENUE BO NDS TO FINANCE THE C OST OF ANY ONE OR MO RE OR 5
COMBINATION OF RAILR OAD FACILITIES PROJE CTS. 6
(B) AS TO REVENUE BONDS O F ANY ISSUE, THE RAIL AUTHORITY MAY 7
DETERMINE: 8
(1) THE DATE OR DATES OF ISSUE; 9
(2) THE DATE OR DATES AND AMOUNT OR AMOUNTS OF MATURITY, 10
WHICH NEED NOT BE IN EQUAL PRINCIPAL AMOU NTS OR CONSECUTIVE A NNUAL 11
INSTALLMENTS , BUT A BOND MAY NOT B E ISSUED TO MATURE L ATER THAN 40 YEARS 12
AFTER THE DATE OF IT S ISSUE; 13
(3) THE RATE OR RATES OF INTEREST PAYABLE ON THE BONDS, OR 14
THE MANNER OF DETERM INING THE RATE OR RA TES OF INTEREST , AND THE DATE 15
OR DATES OF PAYMENT OF INTEREST; 16
(4) THE TENOR , FORM OR FORMS , DENOMINATION OR 17
DENOMINATIONS, MANNER OF EXECUTION , AND PLACE OR PLACES OF PAYMENT OF 18
THE PRINCIPAL OF AND INTEREST ON THE BOND S, WHICH MAY BE AT ANY BANK OR 19
TRUST COMPANY WITHIN OR OUTSIDE THE STATE; 20
(5) WHETHER THE BONDS ARE TO BE ISSUED IN COUP ON OR 21
REGISTERED FORM OR B OTH AND WHETHER PROVISIO N IS TO BE MADE FOR THE 22
REGISTRATION OF THE PRINCIPAL ONLY OF CO UPON BONDS , FOR THE 23
RECONVERSION OF FULL Y REGISTERED BONDS I NTO COUPON FORM , AND FOR THE 24
REPLACEMENT OF BONDS THAT ARE MUTILATED , LOST, OR DESTROYED ; 25
(6) WHETHER ALL OR ANY PART OF THE BOND S ARE REDEEMABLE 26
BEFORE MATURITY AND , IF SO, THE TERMS , CONDITIONS, AND PRICES OF 27
REDEMPTION ; AND 28
(7) ANY OTHER MATTER RELA TING TO THE FORM , TERMS, 29
CONDITIONS, ISSUANCE, SALE, AND DELIVERY OF THE BONDS. 30
9–303. 31
(A) (1) REVENUE BON DS ISSUED UNDER THIS SUBTITLE SHALL BE 32 HOUSE BILL 74 21
EXECUTED ON BEHALF O F THE RAIL AUTHORITY BY THE MANU AL SIGNATURE OF AT 1
LEAST ONE AUTHORIZED INDIVIDUAL. 2
(2) OTHER SIGNATURES ON T HE BONDS MAY BE EITH ER MANUAL OR 3
FACSIMILE. 4
(B) IF AN INDIVIDUAL WHOS E MANUAL OR FACSIMILE SIGNATURE APPEARS 5
ON ANY BOND OR COUPO N ISSUED UNDER THIS SUBTITLE CEASES TO S ERVE IN AN 6
AUTHORIZED CAPACITY BEFORE THE DELIVERY OF THE BOND , THE SIGNATURE 7
NEVERTHELESS IS AS V ALID AND SUFFICIENT FOR ALL PURPOSES AS IF THE 8
INDIVIDUAL HAD REMAI NED IN THAT CAPACITY UNT IL DELIVERY OF THE B OND. 9
9–304. 10
NOTWITHSTANDING ANY O THER PROVISION OF LA W OR ANY RECITALS IN THE 11
INSTRUMENTS , THE REVENUE BONDS , NOTES, AND OTHER EVIDENCES OF 12
OBLIGATION ISSUED UN DER THIS SUBTITLE AR E INVESTMENT SECURIT IES UNDER 13
THE LAWS OF THE STATE. 14
9–305. 15
THE REVENUE BONDS , NOTES, AND OTHER EVIDENCES OF OBLIGATION 16
ISSUED UNDER THIS SU BTITLE AND THEIR ISS UANCE AND SALE ARE E XEMPT FROM 17
THE PROVISIONS OF §§ 8–206 AND 8–208 OF THE STATE FINANCE AND 18
PROCUREMENT ARTICLE, AND THE RAIL AUTHORITY MAY SELL TH EM AT EITHER 19
PUBLIC OR PRIVATE SA LE IN THE MANNER AND FOR THE PRICE THAT I T 20
DETERMINES . 21
9–306. 22
(A) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, REVENUE 23
BONDS MAY BE ISSUED BY THE RAIL AUTHORITY: 24
(1) WITHOUT OBTAINING T HE CONSENT OF ANY IN STRUMENTALITY , 25
AGENCY, OR UNIT OF THE STATE; AND 26
(2) WITHOUT ANY PROCEEDIN GS OR THE HAPPENING OF ANY 27
CONDITIONS OR THINGS OTHER THAN THOSE SPE CIFICALLY REQUIRED B Y THIS 28
SUBTITLE. 29
(B) (1) (I) SUBJECT TO SUBPARAGRA PH (III) OF THIS PARAGRAPH, 30
REVENUE BONDS SECURE D BY FARE REVENUE MA Y BE ISSUED IN ANY A MOUNT. 31
22 HOUSE BILL 74
(II) ON OR BEFORE APRIL 1, 2024, THE RAIL AUTHORITY 1
SHALL SUBMIT , IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT 2
ARTICLE, A REPORT TO THE GENERAL ASSEMBLY THAT INCLUDE S: 3
1. A RECOMMENDATION ON TH E MAXIMUM AGGREGATE 4
AMOUNT OF REVENUE BO NDS THAT MAY BE OUTS TANDING AND UNPAID I N A FISCAL 5
YEAR; AND 6
2. WHETHER THE MAXIMUM A GGREGATE AMOUNT 7
DETERMINED UNDER ITE M 1 OF THIS SUBPARAGRAPH SHOULD BE ESTABLISHE D BY 8
LAW OR REGULATION. 9
(III) THE MAXIMUM AGGREGATE AMOUNT OF REVENUE BO NDS 10
THAT MAY BE OUTSTAND ING AND UNPAID UNDER SUBPARAGRAPH (I) OF THIS 11
PARAGRAPH SHALL BE R EDUCED BY THE AMOUNT OF: 12
1. ANY LOAN EXTENDED TO THE STATE UNDER THE 13
FEDERAL TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION ACT; 14
AND 15
2. ANY LINE OF CREDIT EX TENDED TO THE STATE 16
UNDER THE FEDERAL TRANSPORTATION INFRASTRUCTURE FINANCE AND 17
INNOVATION ACT, TO THE EXTENT THE STATE DRAWS ON THE LI NE OF CREDIT. 18
(2) EXCEPT AS OTHERWISE P ROVIDED IN THIS SECTION AND § 9–205 19
OF THIS TITLE, WITHOUT THE APPROVAL OF THE GENERAL ASSEMBLY, THE RAIL 20
AUTHORITY MAY ISSUE B ONDS TO REFINANCE AL L OR ANY PART OF THE COST OF A 21
PASSENGER RAIL OR TR ANSIT PROJECT FOR WH ICH THE RAIL AUTHORITY 22
PREVIOUSLY ISSUED BONDS AUTHORIZED UND ER THIS SUBTITLE. 23
9–307. 24
(A) SUBJECT TO THE PROVIS IONS OF §§ 9–306(B) AND 9–320 OF THIS 25
SUBTITLE, IF BY REASON OF INCR EASED CONSTRUCTION C OSTS, ERROR IN 26
ESTIMATES, OR OTHERWISE , THE PROCEEDS OF THE REVENUE BONDS OF ANY ISSUE 27
ARE LESS THAN THE AMOUNT REQU IRED FOR THE PURPOSE FOR WHICH THE BONDS 28
ARE AUTHORIZED , ADDITIONAL REVENUE B ONDS MAY BE ISSUED I N A SIMILAR 29
MANNER TO PROVIDE TH E AMOUNT OF THE DEFI CIENCY. 30
(B) (1) THE ADDITIONAL BONDS SHALL BE DEEMED TO B E OF THE SAME 31
ISSUE AND SHALL BE E NTITLED TO PAYMENT F ROM THE SAME FUND , WITHOUT 32
PREFERENCE OR PRIORI TY, AS THE BONDS FIRST I SSUED. 33
HOUSE BILL 74 23
(2) IF THE PROCEEDS OF TH E ADDITIONAL BONDS E XCEED THE 1
AMOUNT REQUIRED , THE EXCESS SHALL BE DEPOSIT ED TO THE CREDIT OF ANY 2
RESERVE FUND FOR THE BONDS OR, IF SO PROVIDED IN TH E TRUST AGREEMENT 3
SECURING THE BONDS , MAY BE APPLIED TO TH E COST OF ANY ADDITI ONAL 4
PROJECT. 5
9–308. 6
(A) THE RAIL AUTHORITY FROM TIME T O TIME MAY ISSUE ITS REVENUE 7
REFUNDING BONDS FOR : 8
(1) REFUNDING ANY BONDS I SSUED UNDER THIS SUB TITLE OR ANY 9
REVENUE BONDS OF PRI OR ISSUES, INCLUDING THE PAYMEN T OF ANY REDEMPTION 10
PREMIUM ON THE BONDS AND ANY INTEREST ACC RUED OR TO ACCRUE TO THE DATE 11
OF REDEMPTION OF THE BONDS; 12
(2) CONSTRUCTING IMPROVEM ENTS OR EXTENSIONS T O OR 13
ENLARGEMENTS OF ANY RAILROAD FACILITIES PROJECT; AND 14
(3) PAYING ALL OR ANY PAR T OF THE COST OF ANY ADDITIONAL 15
RAILROAD FACILITIES PROJECT. 16
(B) THE ISSUANCE OF REVEN UE REFUNDING BONDS , THE DETAILS OF 17
THEIR ISSUANCE , THE RIGHTS OF THEIR HOLDERS, AND THE RIGHTS , DUTIES, AND 18
OBLIGATIONS OF THE RAIL AUTHORITY WITH RESPEC T TO THEM ARE GOVERN ED BY 19
THE PROVISIONS OF TH IS SUBTITLE RELATING TO REVENUE BONDS , INSOFAR AS 20
THOSE PROVISIONS MAY BE APPLICABLE . 21
9–309. 22
BEFORE THE PREPARATIO N OF DEFINITIVE BOND S, THE RAIL AUTHORITY 23
MAY ISSUE ITS INTERI M CERTIFICATES OR TE MPORARY BONDS , WITH OR WITHOUT 24
COUPONS, EXCHANGEABLE FOR DEF INITIVE BONDS WHEN T HE DEFINITIVE BONDS 25
HAVE BEEN EXECUTED A ND ARE AVAILABLE FOR DELIVERY. 26
9–310. 27
(A) THE RAIL AUTHORITY MAY ISSUE I TS BOND ANTICIPATION NOTES, 28
PAYABLE TO THE BEARE R OR REGISTERED HOLD ER OF THE NOTES , OUT OF THE 29
FIRST PROCEEDS OF TH E NEXT SALE OF BONDS ISSUED UNDER THIS SU BTITLE. 30
(B) THE RESOLUTION AUTHOR IZING THE ISSUANCE OF BOND ANTICI PATION 31
NOTES MAY PROVIDE FO R THE ISSUANCE OF TH ESE NOTES IN SERIES , AS FUNDS ARE 32 24 HOUSE BILL 74
REQUIRED, AND FOR THE RENEWAL OF THESE NOTES AT MA TURITY, WITH OR 1
WITHOUT RESALE . 2
(C) THE ISSUANCE OF BOND ANTICIPATION NOTES , THE DETAILS OF THEIR 3
ISSUANCE, THE RIGHTS OF THEIR HOLDERS, AND THE RIGHTS , DUTIES, AND 4
OBLIGATIONS OF THE RAIL AUTHORITY WITH RESPEC T TO THEM ARE GOVERN ED BY 5
THE PROVISIONS OF TH IS SUBTITLE RELATING TO THE ISSUANCE OF T HE BONDS IN 6
ANTICIPATION OF THE SALE OF WHICH THE NO TES ARE ISSUED, INSOFAR AS THOSE 7
PROVISIONS MAY BE AP PLICABLE. 8
9–311. 9
(A) (1) REVENUE BONDS ISSUED UNDER THIS SUBTITLE MAY BE 10
SECURED BY A TRUST A GREEMENT BETWEEN THE RAIL AUTHORITY AND A 11
CORPORATE TRUSTEE TH AT MAY BE ANY TRUST COMPANY OR BANK HAVI NG TRUST 12
POWERS WITHIN OR OUTSIDE TH E STATE. 13
(2) THE TRUST AGREEMENT M AY PLEDGE OR ASSIGN ALL OR ANY 14
PART OF THE REVENUES OF THE RAIL AUTHORITY OR OF ANY R AILROAD FACILITIES 15
PROJECT, BUT MAY NOT MORTGAGE ANY PART OF ANY RAIL ROAD FACILITIES 16
PROJECT. 17
(B) ANY TRUST AGR EEMENT OR BOND AUTHO RIZING RESOLUTION MA Y: 18
(1) CONTAIN ANY PROVISION S FOR THE PROTECTION AND 19
ENFORCEMENT OF THE R IGHTS AND REMEDIES O F BONDHOLDERS AS ARE 20
CONSIDERED REASONABL E AND PROPER , INCLUDING COVENANTS SETTING FORTH 21
THE DUTIES OF THE RAIL AUTHORITY AS TO THE FINANCIN G OR DEVELOPMENT OF 22
ANY RAILROAD FACILIT IES PROJECT , THE EXTENSION , ENLARGEMENT , 23
IMPROVEMENT , MAINTENANCE , OPERATION, REPAIR, AND INSURANCE OF THE 24
PROJECT, AND THE CUSTODY , SAFEGUARDING , AND APPLICATION OF M ONEY; 25
(2) PROVIDE FOR THE EMPLOYMENT OF CONSUL TING ENGINEERS IN 26
CONNECTION WITH THE CONSTRUCTION OR OPER ATION OF ANY RAILROA D 27
FACILITIES PROJECT ; 28
(3) SET FORTH THE RIGHTS AND REMEDIES OF THE BONDHOLDERS 29
AND OF THE TRUSTEE ; 30
(4) RESTRICT THE INDIVIDU AL RIGHT OF ACTION B Y BONDHOLDERS; 31
AND 32
(5) CONTAIN ANY OTHER PRO VISIONS THAT THE RAIL AUTHORITY 33 HOUSE BILL 74 25
CONSIDERS REASONABLE AND PROPER FOR THE S ECURITY OF THE BONDH OLDERS, 1
INCLUDING: 2
(I) COVENANTS TO RESTRICT OR PROHIBIT THE 3
CONSTRUCTION OR OPER ATION OF COMPETING R AILROAD FACILITIES ; AND 4
(II) COVENANTS RELATING TO THE ISSUANCE OF ADDI TIONAL 5
PARITY BONDS ON STAT ED CONDITIONS CONSIS TENT WITH THE REQUIR EMENTS OF 6
THIS SUBTITLE. 7
(C) ALL EXPENSES INCURRED IN CARRYING OUT THE TRUST AGREEMENT 8
MAY BE TREATED AS A PART OF THE COST OF THE OPERATION OF THE RAI LROAD 9
FACILITIES PROJECT I N CONNECTION WITH WH ICH THE BONDS HAVE B EEN ISSUED. 10
(D) THE PROCEEDS OF THE S ALE OF BONDS SHALL B E PAID TO THE 11
TRUSTEE UNDER THE TR UST AGREEMENT SECURI NG THE BONDS AND SHA LL BE 12
DISBURSED IN THE MAN NER AND UND ER THE RESTRICTIONS , IF ANY, PROVIDED IN 13
THE TRUST AGREEMENT . 14
(E) ANY BANK OR TRUST COM PANY INCORPORATED UN DER THE LAWS OF 15
THE STATE THAT ACTS AS DE POSITARY OF THE PROC EEDS OF THE BONDS OR OF 16
REVENUES MAY FURNISH ANY INDEMNIFYING BON DS OR PLEDGE ANY SEC URITIES 17
THAT THE RAIL AUTHORITY REQUIRES . 18
9–312. 19
NOTWITHSTANDING ANY O THER PROVISION OF LA W, IF THE RAIL AUTHORITY 20
IS OPERATING A RAILR OAD FACILITIES PROJE CT, THE RAIL AUTHORITY SHALL FIX , 21
REVISE, CHARGE, AND COLLECT RENTALS , RATES, FEES, FARES, AND OTHE R 22
CHARGES FOR ITS USE OR FOR ITS SERVICES CONSISTENT WITH THE PROVISIONS OF 23
§§ 7–208, 7–505, AND 7–506 OF THIS ARTICLE AS T HOSE PROVISIONS APPL Y TO THE 24
ADMINISTRATION . 25
9–313. 26
(A) (1) ALL RENTALS, RATES, FARES, FEES, AND OTHER CHARGES AN D 27
REVENUES DERIV ED FROM ANY RAILROAD FACILITIES PROJECT S HALL BE SET 28
ASIDE IN A FUND KNOW N AS THE RAIL AUTHORITY FUND, EXCEPT TO THE EXTENT 29
THAT THEY ARE PLEDGE D UNDER AN APPLICABL E TRUST AGREEMENT TO SECURE 30
EITHER: 31
(I) REVENUE BONDS ISSUED UNDER THIS SUBTITLE IF THE 32
TRUST AGREEMENT OR B OND AUTHORIZING RESO LUTION EXPRESSLY PRO VIDES 33 26 HOUSE BILL 74
THAT THIS SECTION DO ES NOT APPLY TO THOS E BONDS; OR 1
(II) REVENUE BONDS OF PRIO R ISSUES. 2
(2) THE RAIL AUTHORITY FUND CONSISTS OF : 3
(I) THE REVENUES FROM THE TRANSFER OF FUNDS UN DER §§ 4
4–313 AND 4–314 OF THIS ARTICLE; 5
(II) SUBJECT TO PARAGRAPH (1) OF THIS SUBSECTION , THE 6
RENTALS, RATES, FARES, FEES, AND OTHER CHARGES AN D REVENUES DERIVED 7
FROM ANY RAILROAD FA CILITIES PROJECT , EXCEPT TO THE EXTENT THAT THEY ARE 8
PLEDGED UNDER AN AP PLICABLE TRUST AGREE MENT; AND 9
(III) MONEY APPROPRIATED IN THE STATE BUDGET TO THE 10
RAIL AUTHORITY FUND. 11
(3) MONEY DISTRIBUTED TO THE RAIL AUTHORITY FUND SHALL BE 12
USED ONLY FOR THE RA ILROAD FACILITIES PR OJECTS LISTED UNDER § 9–204 OF 13
THIS TITLE. 14
(4) THE RAIL AUTHORITY FUND SHALL BE PLEDGED TO AND 15
CHARGED WITH THE PAY MENT OF: 16
(I) THE INTEREST ON BONDS ISSUED UNDER THIS SU BTITLE AS 17
IT FALLS DUE; 18
(II) THE PRINCIPAL OF THE BONDS AS IT FALLS DU E; 19
(III) THE NECESSARY CHARGES OF PAYING AGENTS FOR PAYING 20
PRINCIPAL AND INTERE ST; AND 21
(IV) THE REDEMPTION PRICE OR PURCHASE PRICE OF BONDS 22
RETIRED BY CALL OR P URCHASE AS PROVIDED IN THE BOND AUTHORIZ ING 23
RESOLUTION OR TRUST AGREEMENT . 24
(B) (1) THE PLEDGE IS VALID A ND BINDING FROM THE TIME IT IS MADE. 25
(2) RENTALS, RATES, FARES, FEES, AND OTHER CHARGES AN D 26
REVENUES OR OTHER MO NEY SO PLEDGED AND L ATER RECEIVED BY THE RAIL 27
AUTHORITY IMMEDIATELY SHALL BE SUBJECT TO THE LIEN OF THE PLED GE 28
WITHOUT PHYSICAL DEL IVERY OR ANY FURTHER ACT. 29
HOUSE BILL 74 27
(3) THE LIEN OF THE PLEDGE IS VALI D AND BINDING AS AGA INST ALL 1
PARTIES HAVING ANY C LAIMS OF ANY KIND IN TORT, CONTRACT, OR OTHERWISE 2
AGAINST THE RAIL AUTHORITY, WHETHER OR NOT THESE PARTIES HAVE NOTICE OF 3
THE PLEDGE. 4
(4) NOTWITHSTANDING ANY L AW TO THE CONTRARY , NEITHER THE 5
RESOLUTION NOR ANY T RUST AGREEMENT BY WH ICH A PLEDGE IS CREA TED NEED 6
BE FILED OR RECORDED OTHER THAN IN THE RE CORDS OF THE RAIL AUTHORITY. 7
(C) THE USE AND DISPOSITI ON OF MONEY TO THE C REDIT OF THE RAIL 8
AUTHORITY FUND IS SUBJECT TO TH E PROVISION OF THE APPLICABLE BOND 9
AUTHORIZING RESOLUTI ON OR TRUST AGREEMEN T. 10
9–314. 11
WITHOUT IN ANY WAY LI MITING OR RESTRICTIN G ITS EFFECT OR 12
APPLICATION, THIS SUBTITLE IS INT ENDED TO AUTHORIZE T HE RAIL AUTHORITY 13
TO FINANCE ANY ONE O R MORE OR ANY COMBIN ATION OF RAILROAD FACILITIES 14
PROJECTS BY ANY ONE OR MORE OR COMBINATI ON OF ISSUES OR SERI ES OF BONDS 15
SECURED BY THE PLEDG E OF THE NET OR GROS S OR ANY COMBINATION OF THE NET 16
OR GROSS RENTALS , RATES, FARES, FEES, AND OTHER CHARGES AN D REVENUES 17
DERIVED FROM ANY RAI LROAD FACILITIES PROJEC T OR COMBINATION OF 18
PROJECTS DESIGNATED BY ANY BOND AUTHORIZ ING RESOLUTION OR TR UST 19
AGREEMENT SECURING T HE BONDS. 20
9–315. 21
ALL MONEY THAT IS REC EIVED BY THE RAIL AUTHORITY AS PROCEEDS FROM 22
THE SALE OF REVENUE BONDS, NOTES, OR OTHER EVI DENCES OF OBLIGATION 23
UNDER THIS SUBTITLE AND BY WAY OF RENTAL S, RATES, FARES, FEES, AND OTHER 24
CHARGES AND REVENUES DERIVED FROM ANY RAI LROAD FACILITIES PRO JECT OR 25
COMBINATION OF PROJE CTS AND THAT IS DESI GNATED BY ANY AUTHOR IZING 26
RESOLUTION OR TRUST AGREEME NT AS SECURITY FOR T HE BONDS, NOTES, OR 27
OTHER EVIDENCES OF O BLIGATION SHALL BE D EEMED TO BE TRUST FU NDS TO BE 28
HELD AND APPLIED ONL Y AS PROVIDED IN THI S SUBTITLE. 29
9–316. 30
EXCEPT TO THE EXTENT RESTRICTED BY THE TR UST AGREEMENT , THE 31
TRUSTEE OR ANY HOLDE R OF REVENUE BONDS ISSUED UNDER THIS SUBTITLE OR 32
OF ANY OF THE COUPON S APPERTAINING TO TH E BONDS MAY: 33
(1) BRING A SUIT , AN ACTION, A MANDAMUS , OR ANY OTHER 34 28 HOUSE BILL 74
PROCEEDING AT LAW OR IN EQUITY TO PROTECT AND ENFORCE ANY RIGH T UNDER 1
THE LAWS OF THE STATE OR UNDER THE BOND AUTHORIZING RESOLUTION OR 2
TRUST AGREEMENT ; AND 3
(2) ENFORCE AND COMPEL TH E PERFORMANCE OF ALL DUTIES 4
REQUIRED BY THIS SUB TITLE OR BY THE TRUS T AGREEMENT TO BE PE RFORMED BY 5
THE RAIL AUTHORITY OR BY ANY O F ITS OFFICERS , INCLUDING THE FIXING , 6
CHARGING, AND COLLECTING OF RE NTALS, RATES, FARES, FEES, AND OTHER 7
CHARGES AND REVENUES . 8
9–317. 9
(A) ALL PUBLIC OFFICERS A ND PUBLIC AGENCIES O F THE STATE AND ITS 10
POLITICAL SUBDIVISIO NS, ALL BANKS, TRUST COMPANIES , SAVINGS AND LOAN 11
ASSOCIATIONS, INVESTMENT COM PANIES, AND OTHERS CARRYING ON A BANKING 12
BUSINESS, ALL INSURANCE COMPAN IES, INSURANCE ASSOCIATIO NS, AND OTHERS 13
CARRYING ON AN INSUR ANCE BUSINESS , ALL PERSONAL REPRESE NTATIVES, 14
GUARDIANS, TRUSTEES, AND OTHER FIDUCIARIE S, AND ALL OTHER PERSON S MAY 15
LEGALLY AN D PROPERLY INVEST FU NDS, INCLUDING CAPITAL IN THEIR CONTROL 16
OR BELONGING TO THEM , IN REVENUE BONDS , NOTES, AND OTHER EVIDENCES OF 17
OBLIGATION ISSUED UN DER THIS SUBTITLE . 18
(B) THESE BONDS , NOTES, AND OTHER EVIDENCES OF OBLIGATION MAY 19
LEGALLY AND PROPERLY BE DEPOSITED WITH AND RECEIVED BY ANY STATE OR 20
MUNICIPAL OFFICER OR ANY AGENCY OR POLITI CAL SUBDIVISION OF T HE STATE 21
FOR ANY PURPOSE FOR WHICH THE DEPOSIT OF BONDS OR OTHER OBLIG ATIONS OF 22
THE STATE IS AUTHORIZED B Y LAW. 23
9–318. 24
THE REVENUE BONDS , NOTES, AND OTHER EVIDENCES O F OBLIGATION 25
ISSUED UNDER THIS SU BTITLE, THEIR TRANSFER , THE INTEREST PAYABLE ON 26
THEM, AND ANY INCOME DERIV ED FROM THEM , INCLUDING ANY PROFIT REALIZED 27
IN THEIR SALE OR EXC HANGE, SHALL BE EXEMPT AT A LL TIMES FROM EVERY KIND 28
AND NATURE OF TAXATION BY THE STATE OR BY ANY OF IT S POLITICAL 29
SUBDIVISIONS, OR PUBLIC AGENCIES O F ANY KIND. 30
9–319. 31
(A) THE REVENUE BONDS , NOTES, AND OTHER EVIDENCES OF OBLIGATION 32
ISSUED UNDER THIS SU BTITLE ARE NOT AND M AY NOT BE CONSIDERED TO 33
CONSTITUTE A DEBT OR A PLEDGE OF THE FAIT H AND CREDIT OF THE STATE OF 34
MARYLAND, BUT SHALL BE PAYABLE ONLY FROM THE FUNDS FROM OR REV ENUES 35 HOUSE BILL 74 29
PROVIDED BY THIS SUB TITLE FOR THAT PURPO SE. 1
(B) ALL REVENUE BONDS , NOTES, AND OTHER EVIDENCES OF OBLIGATION 2
ISSUED UNDER THIS SU BTITLE SHALL CONTAIN A STATEMENT ON THEIR FACE TO 3
THE EFFECT THAT : 4
(1) THE STATE IS NOT OBLIGATE D TO PAY THE PRINCIP AL OF OR THE 5
INTEREST ON THEM EXC EPT FROM REVENUES ; AND 6
(2) NEITHER THE FAITH AND CREDIT NOR THE TAXIN G POWER OF 7
THE STATE IS PLEDGED TO T HE PAYMENT OF THE PR INCIPAL OF OR THE IN TEREST 8
ON THEM. 9
9–320. 10
IF THE RAIL AUTHORITY INTENDS TO PLEDGE ANY FUTURE FEDERAL AID 11
FROM ANY SOURCE TO S UPPORT REPAYMENT OF ANY DEBT INSTRUMENT ISSUED 12
UNDER THIS SUBTITLE : 13
(1) THE AGGREGATE PRINCIP AL AMOUNT OF DEBT IS SUED UNDER 14
THIS SUBTITLE OR TITLE 3, SUBTITLE 6 OF THIS ARTICLE THAT IS SECURED BY A 15
PLEDGE OF FUTURE FED ERAL AID MAY NOT EXCEE D $750,000,000; 16
(2) THE DATE OF MATURITY MAY NOT BE LATER THA N 12 YEARS 17
AFTER THE DATE OF IS SUE; 18
(3) NOTWITHSTANDING § 3–215(D) OF THIS ARTICLE , IF FUTURE 19
FEDERAL AID IS INSUF FICIENT TO PAY THE P RINCIPAL OF AND INTE REST ON THE 20
BONDS ISSUED UNDER THIS SUBTITLE WHEN DUE , THE TAX LEVIED UNDER § 3–215 21
OF THIS ARTICLE , TO THE EXTENT THE PR OCEEDS OF SUCH TAX A RE NOT 22
NECESSARY TO PROVIDE THE SINKING FUND REQ UIRED UNDER § 3–215(C) OF THIS 23
ARTICLE, IS IRREVOCABLY PLEDG ED TO THE PAYMENT OF THE PRINCIPAL OF AND 24
INTEREST ON THE BOND S ISSUED UNDER THIS SUBTITLE AS THEY BEC OME DUE AND 25
PAYABLE; 26
(4) THE LIEN OF THE PLEDG E UNDER ITEM (3) OF THIS SECTION 27
SHALL AT ALL TIMES B E SUBORDINATE TO THE LIEN OF THE PLEDGE O F SUCH TAX 28
UNDER § 3–215(D) OF THIS ARTICLE TO THE PA YMENT OF PRINCIPAL O F AND 29
INTEREST ON CONSOLID ATED TRANSPORTATION BONDS; AND 30
(5) NO PART OF THE TAX LE VIED UNDER § 3–215 OF THIS ARTICLE 31
MAY BE REPEALED , DIMINISHED, OR APPLIED TO ANY OT HER PURPOSE UNTIL : 32
30 HOUSE BILL 74
(I) THE BONDS ISSUED UND ER THIS SUBTITLE AND INTEREST 1
ON THEM HAVE BECOME DUE AND FULLY PAID ; OR 2
(II) ADEQUATE AND COMPLETE PROVISION FOR PAYMEN T OF 3
THE PRINCIPAL AND IN TEREST HAS BEEN MADE . 4
9–321. 5
(A) THE RAIL AUTHORITY MAY ISSUE B OND ANTICIPATION NOT ES SECURED 6
BY A PLEDGE OF A LINE OF CREDIT EXTENDED TO T HE STATE UNDER THE FEDER AL 7
TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION ACT. 8
(B) NOTES ISSUED UNDER TH IS SECTION SHALL HAV E A MATURITY DATE OF 9
UP TO 3 YEARS AFTER THE DATE OF ISSUE. 10
(C) A PLEDGE OF A LINE OF CREDIT AS AUTHORI ZED UNDER THIS SECTI ON 11
DOES NOT CONSTITUTE THE PLEDGE OF FUTURE FEDERAL REVENUES , AND NOTES 12
ISSUED UNDER THIS SE CTION ARE NOT SUBJEC T TO § 3–601(D) OF THIS ARTICLE OR 13
§ 9–320 OF THIS SUBTITLE . 14
SUBTITLE 4. MISCELLANEOUS PROVISIONS. 15
9–401. 16
IF THE RAIL AUTHORITY CONSIDERS I T NECESSARY OR DESIR ABLE TO 17
ENSURE THE PROPER OP ERATION AND MAINTENA NCE OF ANY RAILROAD FACILITIES 18
PROJECT, IT MAY DESIGNATE , ESTABLISH, LIMIT, AND CONTROL THE ENTR ANCES 19
AND EXITS OF THE PRO JECT AND MAY PROHIBI T ENTRANCE OR EXIT FROM AN Y 20
UNDESIGNATED POINT . 21
SECTION 2. AND BE IT FURTHER ENACTED, That: 22
(a) The Maryland Rail Authority, in collaboration with the Maryland 23
Transportation Authority, shall contract with a consultant, institution, agency, private 24
contractor, or any other qualified person with expertise in environmental and occupational 25
health to conduct a study of the State’s toll facilities and related impacts of pollution. 26
(b) The study shall: 27
(1) identify the amount of pollution within 5 miles of each toll facility, 28
including the levels of: 29
(i) carbon monoxide; 30
HOUSE BILL 74 31
(ii) nitrous oxide; 1
(iii) particulate matter (pm) 2.5; and 2
(iv) sulfur dioxide; 3
(2) map the prevalence of any health issues within 5 miles of each toll 4
facility that are related to the presence of the pollutants listed under item (1) of this 5
subsection; and 6
(3) identify the communities in the State that are most affected by the 7
presence of the pollutants listed under item (1) of this subsection. 8
(c) The Maryland Rail Authority shall ensure that on or before June 30, 2024, the 9
entity contracted to conduct the study submits, in accordance with § 2–1257 of the State 10
Government Article, a report of its findings and recommendations to: 11
(1) the Department of Transportation; 12
(2) the House Environment and Transportation Committee; 13
(3) the House Appropriations Committee; 14
(4) the Senate Finance Committee; and 15
(5) the Senate Budget and Taxation Committee. 16
SECTION 3. AND BE IT FURTHER ENACTED, That on or before December 1, 17
2023, the Maryland Transportation Authority shall hold public hearings and seek public 18
comment on proposed toll rate adjustments that achieve near optimal tolling. 19
SECTION 4. AND BE IT FURTHER ENACTED, That: 20
(a) On or before July 1, 2023, the Secretary of Transportation shall request a 21
determination letter from the Attorney General on whether implementing Section 1 of this 22
Act would violate existing bond covenants and trust agreements for State toll facilities. 23
(b) (1) Within 5 days after receiving the determination letter requested under 24
subsection (a) of this section from the Attorney General, the members of the Maryland 25
Transportation Authority shall hold a majority vote on whether implementing Section 1 of 26
this Act would violate existing bond covenants and trust agreements for State toll facilities. 27
(2) Within 5 days after holding the vote required under paragraph (1) of 28
this subsection, the Secretary shall forward the result of the vote to the Department of 29
Legislative Services, Miller Senate Office Building, 11 Bladen Street, Annapolis, Maryland 30
21401. 31
32 HOUSE BILL 74
SECTION 5. AND BE IT FURTHER ENACTED, That: 1
(a) Sections 1 through 3 of this Act are contingent on the receipt by the Secretary 2
of Transportation of the result of a favorable vote of the members of the Maryland 3
Transportation Authority requested under Section 4 of this Act, confirming that 4
implementing Section 1 of this Act would not violate existing bond covenants or trust 5
agreements for State toll facilities. 6
(b) If the result of a favorable vote requested under Section 4 of this Act is received 7
on or before October 1, 2023, Sections 1 through 3 of this Act shall take effect on the date 8
that notice of the result of the vote is received by the Department of Legislative Services in 9
accordance with Section 4 of this Act. 10
(c) If the Secretary of Transportation does not receive the result of a favorable 11
vote under Section 4 of this Act on or before October 1, 2023, Sections 1 through 3 of this 12
Act, with no further action required by the General Assembly, shall be null and void. 13
(d) If the members of the Transportation Authority determine through a majority 14
vote that implementing Section 1 of this Act would violate existing bond covenants or trust 15
agreements for State toll facilities, the Transportation Authority, within 30 days after the 16
vote, shall submit a report on the basis of the determination and any amendments to the 17
bond covenants or trust agreements that would be necessary to implement this Act to: 18
(1) the Department of Transportation; 19
(2) the House Environment and Transportation Committee; 20
(3) the House Appropriations Committee; 21
(4) the Senate Finance Committee; and 22
(5) the Senate Budget and Taxation Committee. 23
SECTION 6. AND BE IT FURTHER ENACTED, That , subject to the provisions of 24
Section 5 of this Act, this Act shall take effect June 1, 2023. 25