Maryland 2023 Regular Session

Maryland Senate Bill SB130 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4	[Brackets] indicate matter deleted from existing law.
5	5	sb0130
6	6
7	7	SENATE BILL 130
8	8	C8 3lr0944
9	9	SB 685/22 – B&T (PRE–FILED)
10	10	By: Senator Ellis
11	11	Requested: November 18, 2022
12	12	Introduced and read first time: January 11, 2023
13	13	Assigned to: Budget and Taxation
14	14
15	15	A BILL ENTITLED
16	16
17	17	AN ACT concerning 1
18	18
19	19	Economic Development – Maryland Stadium Authority – Charles County Sports 2
20	20	and Wellness Center 3
21	21
22	22	FOR the purpose of authorizing the Maryland Stadium Authority to review certain matters 4
23	23	and make certain recommendations relating to the Charles County Sports and 5
24	24	Wellness Center; authorizing the Authority to acquire and finance by certain means 6
25	25	a Charles County Sports and Wellness Center site or an interest in the site; requiring 7
26	26	the Authority to secure a written agreement to transfer ownership of the Charles 8
27	27	County Sports and Wellness Center to Charles County as approved by the Board of 9
28	28	Public Works; establishing the Charles County Sports and Wellness Center Fund as 10
29	29	a continuing, nonlapsing fund; and generally relating to financing and construction 11
30	30	of the Charles County Sports and Wellness Center. 12
31	31
32	32	BY renumbering 13
33	33	Article – Economic Development 14
34	34	Section 10–601(p) through (iii) 15
35	35	to be Section 10–601(s) through (lll), respectively 16
36	36	Annotated Code of Maryland 17
37	37	(2018 Replacement Volume and 2022 Supplement) 18
38	38
39	39	BY repealing and reenacting, without amendments, 19
40	40	Article – Economic Development 20
41	41	Section 10–601(a) and (b), 10–620(a)(1), and 10–628(a) 21
42	42	Annotated Code of Maryland 22
43	43	(2018 Replacement Volume and 2022 Supplement) 23
44	44
45	45	BY adding to 24
46	46	Article – Economic Development 25
47	47	Section 10–601(p) through (r), 10–646.5, and 10–657.7 26
48	48	Annotated Code of Maryland 27 2 SENATE BILL 130
49	49
50	50
51	51	(2018 Replacement Volume and 2022 Supplement) 1
52	52
53	53	BY repealing and reenacting, with amendments, 2
54	54	Article – Economic Development 3
55	55	Section 10–601(v) 4
56	56	Annotated Code of Maryland 5
57	57	(2018 Replacement Volume and 2022 Supplement) 6
58	58	(As enacted by Section 1 of this Act) 7
59	59
60	60	BY repealing and reenacting, with amendments, 8
61	61	Article – Economic Development 9
62	62	Section 10–613(a)(14) and (b), 10–618, 10–620(d) and (e), 10–625(a), and 10–628(c) 10
63	63	Annotated Code of Maryland 11
64	64	(2018 Replacement Volume and 2022 Supplement) 12
65	65
66	66	BY repealing and reenacting, without amendments, 13
67	67	Article – State Finance and Procurement 14
68	68	Section 6–226(a)(2)(i) 15
69	69	Annotated Code of Maryland 16
70	70	(2021 Replacement Volume and 2022 Supplement) 17
71	71
72	72	BY repealing and reenacting, with amendments, 18
73	73	Article – State Finance and Procurement 19
74	74	Section 6–226(a)(2)(ii)170. and 171. 20
75	75	Annotated Code of Maryland 21
76	76	(2021 Replacement Volume and 2022 Supplement) 22
77	77
78	78	BY adding to 23
79	79	Article – State Finance and Procurement 24
80	80	Section 6–226(a)(2)(ii)172. 25
81	81	Annotated Code of Maryland 26
82	82	(2021 Replacement Volume and 2022 Supplement) 27
83	83
84	84	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 28
85	85	That Section(s) 10–601(p) through (iii) of Article – Economic Development of the Annotated 29
86	86	Code of Maryland be renumbered to be Section(s) 10–601(s) through (lll), respectively. 30
87	87
88	88	SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 31
89	89	as follows: 32
90	90
91	91	Article – Economic Development 33
92	92
93	93	10–601. 34
94	94
95	95	(a) In this subtitle the following words have the meanings indicated. 35
96	96
97	97	(b) “Authority” means the Maryland Stadium Authority. 36 SENATE BILL 130 3
98	98
99	99
100	100
101	101	(P) (1) “CHARLES COUNTY SPORTS AND WELLNESS CENTER” MEANS 1
102	102	THE EVENTS FACILITY LOCATED IN CHARLES COUNTY, MARYLAND, USED FOR 2
103	103	COMMUNITY EVENTS , RECREATIONAL EVENTS , AND OTHER RELATED AC TIVITIES. 3
104	104
105	105	(2) “CHARLES COUNTY SPORTS AND WELLNESS CENTER” 4
106	106	INCLUDES: 5
107	107
108	108	(I) FIELDS AND AMPHITHEATERS ; 6
109	109
110	110	(II) OFFICES; 7
111	111
112	112	(III) PARKING LOTS AND GAR AGES; 8
113	113
114	114	(IV) ACCESS ROADS ; 9
115	115
116	116	(V) FOOD SERVICE FACILIT IES; AND 10
117	117
118	118	(VI) OTHER FUNCTIONALLY R ELATED STRUCTURES AN D 11
119	119	IMPROVEMENTS . 12
120	120
121	121	(Q) “CHARLES COUNTY SPORTS AND WELLNESS CENTER FUND” MEANS 13
122	122	THE CHARLES COUNTY SPORTS AND WELLNESS CENTER FUND ESTABLISHED 14
123	123	UNDER § 10–657.7 OF THIS SUBTITLE. 15
124	124
125	125	(R) “CHARLES COUNTY SPORTS AND WELLNESS CENTER SITE” MEANS THE 16
126	126	SITE OF THE CHARLES COUNTY SPORTS AND WELLNESS CENTER IN CHARLES 17
127	127	COUNTY, MARYLAND. 18
128	128
129	129	(v) “Facility” means: 19
130	130
131	131	(1) a structure or other improvement developed at Camden Yards; 20
132	132
133	133	(2) a convention facility; 21
134	134
135	135	(3) the Hippodrome Performing Arts facility; 22
136	136
137	137	(4) a sports facility; 23
138	138
139	139	(5) a Baltimore City public school facility; 24
140	140
141	141	(6) a racing facility; 25
142	142
143	143	(7) a public school facility; 26
144	144	4 SENATE BILL 130
145	145
146	146
147	147	(8) the Hagerstown Multi–Use Sports and Events Facility; 1
148	148
149	149	(9) a sports entertainment facility; [or] 2
150	150
151	151	(10) a Prince George’s County Blue Line Corridor facility; OR 3
152	152
153	153	(11) THE CHARLES COUNTY SPORTS AND WELLNESS CENTER. 4
154	154
155	155	10–613. 5
156	156
157	157	(a) The Authority may: 6
158	158
159	159	(14) with respect to site acquisition, construction, and development of the 7
160	160	Hippodrome Performing Arts facility [and], the Hagerstown Multi–Use Sports and Events 8
161	161	Facility, AND THE CHARLES COUNTY SPORTS AND WELLNESS CENTER, establish and 9
162	162	participate in Authority affiliates; 10
163	163
164	164	(b) The Authority may review and make recommendations on proposed 11
165	165	convention center facilities, the Hippodrome Performing Arts facility, the Hagerstown 12
166	166	Multi–Use Sports and Events Facility, [and] a Prince George’s County Blue Line Corridor 13
167	167	facility, AND THE CHARLES COUNTY SPORTS AND WELLNESS CENTER, including the 14
168	168	expansion and enhancement of the Baltimore City Convention Center and the Ocean City 15
169	169	Convention Center and the development and construction of the Montgomery County 16
170	170	Conference Center, the Hippodrome Performing Arts Center, the Hagerstown 17
171	171	Multi–Use Sports and Events Facility, [and] a Prince George’s County Blue Line Corridor 18
172	172	facility, AND THE CHARLES COUNTY SPORTS AND WELLNESS CENTER, with respect 19
173	173	to location, purpose, design, function, capacity, parking, costs, funding mechanisms, and 20
174	174	revenue alternatives, with specific recommendations on: 21
175	175
176	176	(1) the level of support from the private sector; 22
177	177
178	178	(2) the type of support from the private sector; 23
179	179
180	180	(3) special taxing sources; 24
181	181
182	182	(4) projected revenues; 25
183	183
184	184	(5) bonding authority and the source of debt service; and 26
185	185
186	186	(6) the fiscal impact on the State of any revenue alternatives. 27
187	187
188	188	10–618. 28
189	189
190	190	(a) (1) Except as provided in paragraph (2) of this subsection, contracts to 29
191	191	acquire any facility site, to construct the facility, or for construction on the facility site 30
192	192	require the prior approval of the Board of Public Works. 31 SENATE BILL 130 5
193	193
194	194
195	195
196	196	(2) Contracts to construct a public school facility or for construction on a 1
197	197	public school site do not require the prior approval of the Board of Public Works. 2
198	198
199	199	(b) The Authority may: 3
200	200
201	201	(1) acquire by any of the means specified in § 10–620(a) of this subtitle: 4
202	202
203	203	(i) a site at Camden Yards for a facility; 5
204	204
205	205	(ii) a Baltimore Convention site or an interest in the site; 6
206	206
207	207	(iii) an Ocean City Convention site or an interest in the site; 7
208	208
209	209	(iv) a Montgomery County Conference site or an interest in the site; 8
210	210
211	211	(v) a Hippodrome Performing Arts site or an interest in the site; 9
212	212
213	213	(vi) a Hagerstown Multi–Use Sports and Events Facility site or an 10
214	214	interest in the site; 11
215	215
216	216	(vii) a sports entertainment facility site or an interest in the site; 12
217	217	[and] 13
218	218
219	219	(viii) a Prince George’s County Blue Line Corridor facility site or an 14
220	220	interest in the site; and 15
221	221
222	222	(IX) A CHARLES COUNTY SPORTS AND WELLNESS CENTER SITE 16
223	223	OR AN INTEREST IN TH E SITE; AND 17
224	224
225	225	(2) construct or enter into a contract to construct a facility on a site it 18
226	226	acquires under this subsection. 19
227	227
228	228	10–620. 20
229	229
230	230	(a) (1) Subject to annual appropriations and this subtitle, the Authority may 21
231	231	acquire in its own name, by gift, purchase, or condemnation, any property or interest in 22
232	232	property necessary or convenient to construct, improve, or operate a facility. 23
233	233
234	234	(d) (1) The exercise of authority under this subsection is subject to the prior 24
235	235	approval of the Board of Public Works. 25
236	236
237	237	(2) On request of the Authority, the State, a unit of the State, or a political 26
238	238	subdivision may lease, lend, grant, or otherwise convey to the Authority, property, 27
239	239	including property devoted to public use, as necessary or convenient for the purposes of this 28
240	240	subtitle. 29
241	241	6 SENATE BILL 130
242	242
243	243
244	244	(3) The State may lease or sublease a facility, or an interest in a facility, 1
245	245	from or to the Authority, whether or not constructed or usable. 2
246	246
247	247	(4) Lease payments to the Authority appropriated by the State shall be 3
248	248	transferred to: 4
249	249
250	250	(i) the Baltimore Convention Fund if appropriated for a Baltimore 5
251	251	Convention facility; 6
252	252
253	253	(ii) the Camden Yards Fund if appropriated for a sports facility or 7
254	254	other facility at Camden Yards; 8
255	255
256	256	(iii) the Hippodrome Performing Arts Fund if appropriated for a 9
257	257	Hippodrome Performing Arts facility; 10
258	258
259	259	(iv) the Montgomery County Conference Fund if appropriated for a 11
260	260	Montgomery County Conference facility; 12
261	261
262	262	(v) the Ocean City Convention Fund if appropriated for an Ocean 13
263	263	City Convention facility; 14
264	264
265	265	(vi) the Hagerstown Multi–Use Sports and Events Facility Fund if 15
266	266	appropriated for a Hagerstown Multi–Use Sports and Events Facility; 16
267	267
268	268	(vii) the Sports Entertainment Facilities Financing Fund if 17
269	269	appropriated for a sports entertainment facility; [or] 18
270	270
271	271	(viii) the Prince George’s County Blue Line Corridor Facility Fund if 19
272	272	appropriated for a Prince George’s County Blue Line Corridor facility; OR 20
273	273
274	274	(IX) THE CHARLES COUNTY SPORTS AND WELLNESS CENTER 21
275	275	FUND IF APPROPRIATED FOR THE CHARLES COUNTY SPORTS AND WELLNESS 22
276	276	CENTER. 23
277	277
278	278	(e) (1) This subsection does not apply to the Camden Yards site, Baltimore 24
279	279	Convention site, Ocean City Convention site, Hippodrome Performing Arts site, any 25
280	280	Baltimore City public school site, any racing facility, the Hagerstown Multi–Use Sports and 26
281	281	Events Facility site, any supplemental facility site, any public school site, a sports 27
282	282	entertainment facility, [or] a Prince George’s County Blue Line Corridor facility site, OR 28
283	283	THE CHARLES COUNTY SPORTS AND WELLNESS CENTER. 29
284	284
285	285	(2) The Authority and any Authority affiliate are subject to applicable 30
286	286	planning, zoning, and development regulations to the same extent as a private commercial 31
287	287	or industrial enterprise. 32
288	288
289	289	10–625. 33 SENATE BILL 130 7
290	290
291	291
292	292
293	293	(a) Except as provided in subsection (b) of this section, the Authority shall submit: 1
294	294
295	295	(1) an annual detailed report of the activities and financial status of the 2
296	296	Authority to the Governor, and, in accordance with § 2–1257 of the State Government 3
297	297	Article, the General Assembly; and 4
298	298
299	299	(2) annual reports on the additional tax revenues generated by each of the 5
300	300	following facilities: 6
301	301
302	302	(i) the Baltimore Convention facility; 7
303	303
304	304	(ii) the Hippodrome Performing Arts facility; 8
305	305
306	306	(iii) the Montgomery County Conference facility; 9
307	307
308	308	(iv) the Ocean City Convention facility; 10
309	309
310	310	(v) the Hagerstown Multi–Use Sports and Events Facility; 11
311	311
312	312	(vi) a sports entertainment facility; [and] 12
313	313
314	314	(vii) a Prince George’s County Blue Line Corridor facility site; AND 13
315	315
316	316	(VIII) THE CHARLES COUNTY SPORTS AND WELLNESS CENTER. 14
317	317
318	318	10–628. 15
319	319
320	320	(a) Except as provided in subsections (b) and (c) of this section and subject to the 16
321	321	prior approval of the Board of Public Works, the Authority may issue bonds at any time for 17
322	322	any corporate purpose of the Authority, including the establishment of reserves and the 18
323	323	payment of interest. 19
324	324
325	325	(c) (1) Unless authorized by the General Assembly, the Board of Public Works 20
326	326	may not approve an issuance by the Authority of bonds, whether taxable or tax exempt, 21
327	327	that constitute tax supported debt or nontax supported debt if, after issuance, there would 22
328	328	be outstanding and unpaid more than the following face amounts of the bonds for the 23
329	329	purpose of financing acquisition, construction, renovation, and related expenses for 24
330	330	construction management, professional fees, and contingencies in connection with: 25
331	331
332	332	(i) the Baltimore Convention facility – $55,000,000; 26
333	333
334	334	(ii) the Hippodrome Performing Arts facility – $20,250,000; 27
335	335
336	336	(iii) the Montgomery County Conference facility – $23,185,000; 28
337	337
338	338	(iv) the Ocean City Convention facility – $24,500,000; 29 8 SENATE BILL 130
339	339
340	340
341	341
342	342	(v) Baltimore City public school facilities – $1,100,000,000; 1
343	343
344	344	(vi) supplemental facilities – $25,000,000; 2
345	345
346	346	(vii) racing facilities – $375,000,000; 3
347	347
348	348	(viii) public school facilities in the State – $2,200,000,000; 4
349	349
350	350	(ix) the Hagerstown Multi –Use Sports and Events 5
351	351	Facility – $59,500,000; 6
352	352
353	353	(x) sports entertainment facilities – $200,000,000; [and] 7
354	354
355	355	(xi) Prince George’s County Blue Line Corridor 8
356	356	facilities – $400,000,000; AND 9
357	357
358	358	(XII) CHARLES COUNTY SPORTS AND WELLNESS CENTER 10
359	359	FACILITIES – $45,000,000. 11
360	360
361	361	(2) (i) The limitation under paragraph (1)(i) of this subsection applies 12
362	362	to the aggregate principal amount of bonds outstanding as of June 30 of any year. 13
363	363
364	364	(ii) Refunded bonds may not be included in the determination of an 14
365	365	outstanding aggregate amount under this paragraph. 15
366	366
367	367	10–646.5. 16
368	368
369	369	(A) EXCEPT AS AUTHORIZED BY § 10–639 OF THIS SUBTITLE , TO FINANCE 17
370	370	SITE ACQUISITION , DESIGN, AND CONSTRUCTION OF ANY SEGMENT OF THE 18
371	371	CHARLES COUNTY SPORTS AND WELLNESS CENTER, THE AUTHORITY SHALL 19
372	372	COMPLY WITH THIS SEC TION. 20
373	373
374	374	(B) AT LEAST 45 DAYS BEFORE SEEKING APPROVAL OF THE BOARD OF 21
375	375	PUBLIC WORKS FOR EACH BOND I SSUE OR OTHER BORROWING , THE AUTHORITY 22
376	376	SHALL PROVIDE TO THE FISCAL COMMITTEES OF THE GENERAL ASSEMBLY, IN 23
377	377	ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, A 24
378	378	COMPREHENSIVE FINANC ING PLAN FOR THE REL EVANT SEGMENT OF THE FACILITY. 25
379	379
380	380	(C) THE AUTHORITY SHALL O BTAIN THE APPROVAL O F THE BOARD OF 26
381	381	PUBLIC WORKS OF THE PROPOSED BOND ISSUE AND THE F INANCING PLAN . 27
382	382
383	383	(D) THE AUTHORITY MAY NOT ISS UE BONDS TO FINANCE THE CHARLES 28
384	384	COUNTY SPORTS AND WELLNESS CENTER UNTIL THE AUTHORITY AND CHARLES 29
385	385	COUNTY SECURE A WRITTEN OPE RATING AGREEMENT . 30 SENATE BILL 130 9
386	386
387	387
388	388
389	389	(E) THE AUTHORITY SHALL SECUR E A WRITTEN AGREEMEN T TO TRANSFER 1
390	390	OWNERSHIP OF THE CHARLES COUNTY SPORTS AND WELLNESS CENTER FROM THE 2
391	391	AUTHORITY TO CHARLES COUNTY, AS APPROVED BY THE BOARD OF PUBLIC 3
392	392	WORKS: 4
393	393
394	394	(1) IN WHICH CHARLES COUNTY AGREES TO: 5
395	395
396	396	(I) OWN, MARKET, PROMOTE, AND OPERATE OR CONTR ACT FOR 6
397	397	THE MARKETING , PROMOTION , AND OPERATION OF THE CHARLES COUNTY SPORTS 7
398	398	AND WELLNESS CENTER IN A MANNER THAT MAX IMIZES THE CHARLES COUNTY 8
399	399	SPORTS AND WELLNESS CENTER’S ECONOMIC RETURN ; 9
400	400
401	401	(II) MAINTAIN AND REPAIR O R CONTRACT FOR THE 10
402	402	MAINTENANCE AND REPA IR OF THE CHARLES COUNTY SPORTS AND WELLNESS 11
403	403	CENTER SO AS TO KEEP THE CHARLES COUNTY SPORTS AND WELLNESS CENTER IN 12
404	404	FIRST–CLASS OPERATING COND ITION; AND 13
405	405
406	406	(III) BE SOLELY RESPONSIBL E FOR ALL EXPENDITURES 14
407	407	RELATING TO THE OPER ATION, MAINTENANCE , AND REPAIR OF THE CHARLES 15
408	408	COUNTY SPORTS AND WELLNESS CENTER THAT MAY BE IN CURRED, INCLUDING 16
409	409	THE AMOUNT BY WHICH EXPENDITURES EXCEED REVENUES; AND 17
410	410
411	411	(2) THAT: 18
412	412
413	413	(I) PROTECTS THE INVESTMENTS OF T HE AUTHORITY AND 19
414	414	CHARLES COUNTY IN THE CHARLES COUNTY SPORTS AND WELLNESS CENTER; 20
415	415
416	416	(II) REQUIRES CHARLES COUNTY TO CONTRIBUTE TO A 21
417	417	CAPITAL IMPROVEMENT RESERVE FUND AN AMOU NT SUFFICIENT TO KEE P THE 22
418	418	CHARLES COUNTY SPORTS AND WELLNESS CENTER IN FIRST–CLASS OPERAT ING 23
419	419	CONDITION; 24
420	420
421	421	(III) REQUIRES CHARLES COUNTY TO BE SOLELY RESPONS IBLE 25
422	422	FOR ALL EXPENDITURES RELATING TO THE OPER ATION OF THE CHARLES COUNTY 26
423	423	SPORTS AND WELLNESS CENTER THAT MAY BE INCURRED , INCLUDING OPERATING 27
424	424	DEFICITS; AND 28
425	425
426	426	(IV) ALLOWS CHARLES COUNTY TO KEEP ALL OPERATIN G 29
427	427	PROFITS RESULTING FR OM THE OPERATION OF THE CHARLES COUNTY SPORTS AND 30
428	428	WELLNESS CENTER EACH YEAR. 31
429	429
430	430	(F) ON OR BEFORE DECEMBER 31 EACH YEAR, CHARLES COUNTY SHALL 32 10 SENATE BILL 130
431	431
432	432
433	433	REPORT TO THE SENATE BUDGET AND TAXATION COMMITTEE AND THE HOUSE 1
434	434	APPROPRIATIONS COMMITTEE, IN ACCORDANCE WITH § 2–1257 OF THE STATE 2
435	435	GOVERNMENT ARTICLE, ON CHARLES COUNTY’S ASSESSMENT OF THE 3
436	436	MAINTENANCE AND REPA IR NEEDED TO KEEP THE CHARLES COUNTY SPORTS AND 4
437	437	WELLNESS CENTER IN OPERATING ORDER . 5
438	438
439	439	10–657.7. 6
440	440
441	441	(A) IN THIS SECTION, “FUND” MEANS THE CHARLES COUNTY SPORTS AND 7
442	442	WELLNESS CENTER FUND. 8
443	443
444	444	(B) THERE IS A CHARLES COUNTY SPORTS AND WELLNESS CENTER FUND. 9
445	445
446	446	(C) THE PURPOSE OF THE FUND IS TO ENABLE THE AUTHORITY TO: 10
447	447
448	448	(1) USE THE FUND AS A REVOLVING F UND FOR IMPLEMENTING THIS 11
449	449	SUBTITLE AS IT RELAT ES TO THE CHARLES COUNTY SPORTS AND WELLNESS 12
450	450	CENTER; AND 13
451	451
452	452	(2) PAY ANY EXPENSES INC URRED BY THE AUTHORITY THAT ARE 14
453	453	RELATED TO THE CHARLES COUNTY SPORTS AND WELLNESS CENTER. 15
454	454
455	455	(D) THE AUTHORITY SHALL ADMIN ISTER THE FUND. 16
456	456
457	457	(E) (1) THE FUND IS A CONTINUING , NONLAPSING FUND THAT IS NOT 17
458	458	SUBJECT TO REVERSION UNDER § 7–302 OF THE STATE FINANCE AND 18
459	459	PROCUREMENT ARTICLE. 19
460	460
461	461	(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY, 20
462	462	AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 21
463	463
464	464	(F) (1) TO THE EXTENT CONSIDE RED APPROPRIATE BY T HE AUTHORITY, 22
465	465	THE RECEIPTS OF THE FUND SHALL BE PLEDGED TO AND CHARGED WITH THE 23
466	466	FOLLOWING RELATING T O THE CHARLES COUNTY SPORTS AND WELLNESS 24
467	467	CENTER: 25
468	468
469	469	(I) PAYMENT OF DEBT SERV ICE ON AUTHORITY BONDS ; 26
470	470
471	471	(II) ALL REASONABLE CHARG ES AND EXPENSES RELA TED TO 27
472	472	THE AUTHORITY’S BORROWING ; AND 28
473	473
474	474	(III) THE MANAGEMENT OF AUTHORITY OBLIGATIONS . 29
475	475	SENATE BILL 130 11
476	476
477	477
478	478	(2) THE PLEDGE SHALL BE E FFECTIVE AS PROVIDED IN § 10–634 OF 1
479	479	THIS SUBTITLE. 2
480	480
481	481	(G) THE FUND CONSISTS OF : 3
482	482
483	483	(1) MONEY APPROPRIATED F OR DEPOSIT IN THE FUND; 4
484	484
485	485	(2) REVENUES COLLECTED O R RECEIVED FROM ANY SOURCE UNDER 5
486	486	THIS SUBTITLE CONCER NING THE CHARLES COUNTY SPORTS AND WELLNESS 6
487	487	CENTER; AND 7
488	488
489	489	(3) ANY ADDITIONA L MONEY MADE AVAILAB LE FROM ANY PUBLIC O R 8
490	490	PRIVATE SOURCE FOR T HE PURPOSES ESTABLIS HED FOR THE FUND. 9
491	491
492	492	(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 10
493	493	IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 11
494	494
495	495	(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE PAID IN TO THE 12
496	496	FUND. 13
497	497
498	498	Article – State Finance and Procurement 14
499	499
500	500	6–226. 15
501	501
502	502	(a) (2) (i) Notwithstanding any other provision of law, and unless 16
503	503	inconsistent with a federal law, grant agreement, or other federal requirement or with the 17
504	504	terms of a gift or settlement agreement, net interest on all State money allocated by the 18
505	505	State Treasurer under this section to special funds or accounts, and otherwise entitled to 19
506	506	receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 20
507	507	Fund of the State. 21
508	508
509	509	(ii) The provisions of subparagraph (i) of this paragraph do not apply 22
510	510	to the following funds: 23
511	511
512	512	170. The Cannabis Public Health Fund; [and] 24
513	513
514	514	171. the Community Reinvestment and Repair Fund; AND 25
515	515
516	516	172. THE CHARLES COUNTY SPORTS AND WELLNESS 26
517	517	CENTER FUND. 27
518	518
519	519	SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect 28
520	520	October 1, 2023. 29
521	521