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.
*sb0442*
SENATE BILL 442
C8 3lr1804
By: Senator Corderman
Introduced and read first time: February 2, 2023
Assigned to: Budget and Taxation
Committee Report: Favorable
Senate action: Adopted
Read second time: March 1, 2023
CHAPTER ______
AN ACT concerning 1
Economic Development – Sports Entertainment Facilities – Financing and 2
Construction 3
FOR the purpose of altering the amount of taxable or tax exempt bonds that the Maryland 4
Stadium Authority may issue for certain sports entertainment facilities; altering the 5
entities from which the Authority is required to have received a request for financing 6
and construction management services concerning a sports entertainment facility; 7
altering the entities with which the Authority is required to enter into an agreement 8
before issuing bonds to finance a sports entertainment facility; and generally 9
relating to sports entertainment facilities. 10
BY repealing and reenacting, with amendments, 11
Article – Economic Development 12
Section 10–628(c)(1) and 10–646.3(b), (e), and (f) 13
Annotated Code of Maryland 14
(2018 Replacement Volume and 2022 Supplement) 15
BY repealing and reenacting, without amendments, 16
Article – Economic Development 17
Section 10–646.3(a) 18
Annotated Code of Maryland 19
(2018 Replacement Volume and 2022 Supplement) 20
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 21
That the Laws of Maryland read as follows: 22 2 SENATE BILL 442
Article – Economic Development 1
10–628. 2
(c) (1) Unless authorized by the General Assembly, the Board of Public Works 3
may not approve an issuance by the Authority of bonds, whether taxable or tax exempt, 4
that constitute tax supported debt or nontax supported debt if, after issuance, there would 5
be outstanding and unpaid more than the following face amounts of the bonds for the 6
purpose of financing acquisition, construction, renovation, and related expenses for 7
construction management, professional fees, and contingencies in connection with: 8
(i) the Baltimore Convention facility – $55,000,000; 9
(ii) the Hippodrome Performing Arts facility – $20,250,000; 10
(iii) the Montgomery County Conference facility – $23,185,000; 11
(iv) the Ocean City Convention facility – $24,500,000; 12
(v) Baltimore City public school facilities – $1,100,000,000; 13
(vi) supplemental facilities – $25,000,000; 14
(vii) racing facilities – $375,000,000; 15
(viii) public school facilities in the State – $2,200,000,000; 16
(ix) the Hagerstown Multi–Use Sports and Events Facility – 17
$59,500,000; 18
(x) sports entertainment facilities – [$200,000,000] $220,000,000; 19
and 20
(xi) Prince George’s County Blue Line Corridor facilities – 21
$400,000,000. 22
10–646.3. 23
(a) Except as authorized by § 10–639 of this subtitle, to finance site acquisition, 24
design, construction, equipping, and furnishing of any segment of a sports entertainment 25
facility, the Authority shall comply with this section. 26
(b) (1) The Authority shall have received a written request for financing and 27
construction management services from the State, a county, or a local government in which 28
the sports entertainment facility is located or to be located OR A NONPROFIT 29 SENATE BILL 442 3
ORGANIZATION THAT WI LL OWN OR OPERATE THE SPORTS ENTERTAINMENT 1
FACILITY. 2
(2) The request shall include: 3
(i) the location of the proposed sports entertainment facility; 4
(ii) the amount, source, and timing of funding not including 5
Authority bonds which may be issued to finance the proposed sports entertainment facility; 6
and 7
(iii) a description of the anticipated use of the proposed sports 8
entertainment facility. 9
(e) The Authority may not issue bonds to finance a sports entertainment facility 10
until the Authority secures a written agreement with the State, county, or local government 11
in which the sports entertainment facility is located OR A NONPROFIT ORGANIZATION 12
THAT WILL OWN OR OPERATE THE SPORTS E NTERTAINMENT FACILIT Y, as approved 13
by the Board of Public Works, under which: 14
(1) the source of funding and the order in which funds will be spent is 15
described; and 16
(2) the State, county, [or] local government, OR NON PROFIT 17
ORGANIZATION agrees to: 18
(i) own, market, promote, and operate or contract for the marketing, 19
promotion, and operation of the sports entertainment facility in a manner that maximizes 20
the facility’s economic return; 21
(ii) maintain and repair or contract for the maintenance and repair 22
of the sports entertainment facility so as to keep the sports entertainment facility in 23
first–class operating condition; and 24
(iii) any other terms or conditions deemed necessary or appropriate 25
by the Authority. 26
(f) On or before December 31 each year, a county or local government in which a 27
sports entertainment facility financed in whole or in part under this subtitle is located OR 28
A NONPROFIT ORGANIZA TION THAT OWNS OR OPERATES A SPORTS EN TERTAINMENT 29
FACILITY shall report to the Senate Budget and Taxation Committee and the House 30
Appropriations Committee, in accordance with § 2–1257 of the State Government Article, 31
on the sports entertainment facility’s assessment of the maintenance and repair needed to 32
keep the facility in operating order. 33
4 SENATE BILL 442
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 1
1, 2023. 2
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.