WES MOORE, Governor Ch. 468
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Chapter 468
(Senate Bill 442)
AN ACT concerning
Economic Development – Sports Entertainment Facilities – Financing and
Construction
FOR the purpose of altering the amount of taxable or tax exempt bonds that the Maryland
Stadium Authority may issue for certain sports entertainment facilities; altering the
entities from which the Authority is required to have received a request for financing
and construction management services concerning a sports entertainment facility;
altering the entities with which the Authority is required to enter into an agreement
before issuing bonds to finance a sports entertainment facility; and generally
relating to sports entertainment facilities.
BY repealing and reenacting, with amendments,
Article – Economic Development
Section 10–628(c)(1) and 10–646.3(b), (e), and (f)
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, without amendments,
Article – Economic Development
Section 10–646.3(a)
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Economic Development
10–628.
(c) (1) Unless authorized by the General Assembly, the Board of Public Works
may not approve an issuance by the Authority of bonds, whether taxable or tax exempt,
that constitute tax supported debt or nontax supported debt if, after issuance, there would
be outstanding and unpaid more than the following face amounts of the bonds for the
purpose of financing acquisition, construction, renovation, and related expenses for
construction management, professional fees, and contingencies in connection with:
(i) the Baltimore Convention facility – $55,000,000;
(ii) the Hippodrome Performing Arts facility – $20,250,000;
Ch. 468 2023 LAWS OF MARYLAND
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(iii) the Montgomery County Conference facility – $23,185,000;
(iv) the Ocean City Convention facility – $24,500,000;
(v) Baltimore City public school facilities – $1,100,000,000;
(vi) supplemental facilities – $25,000,000;
(vii) racing facilities – $375,000,000;
(viii) public school facilities in the State – $2,200,000,000;
(ix) the Hagerstown Multi–Use Sports and Events Facility –
$59,500,000;
(x) sports entertainment facilities – [$200,000,000] $220,000,000;
and
(xi) Prince George’s County Blue Line Corridor facilities –
$400,000,000.
10–646.3.
(a) Except as authorized by § 10–639 of this subtitle, to finance site acquisition,
design, construction, equipping, and furnishing of any segment of a sports entertainment
facility, the Authority shall comply with this section.
(b) (1) The Authority shall have received a written request for financing and
construction management services from the State, a county, or a local government in which
the sports entertainment facility is located or to be located OR A NONPROFIT
ORGANIZATION THAT WI LL OWN OR OPERATE THE SPORTS ENTERTAINMENT
FACILITY.
(2) The request shall include:
(i) the location of the proposed sports entertainment facility;
(ii) the amount, source, and timing of funding not including
Authority bonds which may be issued to finance the proposed sports entertainment facility;
and
(iii) a description of the anticipated use of the proposed sports
entertainment facility.
(e) The Authority may not issue bonds to finance a sports entertainment facility
until the Authority secures a written agreement with the State, county, or local government WES MOORE, Governor Ch. 468
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in which the sports entertainment facility is located OR A NONPROFIT ORGANIZATION
THAT WILL OWN OR OPERATE THE SPORTS E NTERTAINMENT FACILIT Y, as approved
by the Board of Public Works, under which:
(1) the source of funding and the order in which funds will be spent is
described; and
(2) the State, county, [or] local government, OR NON PROFIT
ORGANIZATION agrees to:
(i) own, market, promote, and operate or contract for the marketing,
promotion, and operation of the sports entertainment facility in a manner that maximizes
the facility’s economic return;
(ii) maintain and repair or contract for the maintenance and repair
of the sports entertainment facility so as to keep the sports entertainment facility in
first–class operating condition; and
(iii) any other terms or conditions deemed necessary or appropriate
by the Authority.
(f) On or before December 31 each year, a county or local government in which a
sports entertainment facility financed in whole or in part under this subtitle is located OR
A NONPROFIT ORGANIZA TION THAT OWNS OR OPERATES A SPORTS EN TERTAINMENT
FACILITY shall report to the Senate Budget and Taxation Committee and the House
Appropriations Committee, in accordance with § 2–1257 of the State Government Article,
on the sports entertainment facility’s assessment of the maintenance and repair needed to
keep the facility in operating order.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2023.
Approved by the Governor, May 8, 2023.