Maryland 2023 Regular Session

Maryland Senate Bill SB442 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	WES MOORE, Governor Ch. 468
2	1
3		-	– 1 –
4		-	Chapter 468
5		-	(Senate Bill 442)
6	2
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	+	sb0442
8	9
9		-	~~Economic Development – Sports Entertainment Facilities – Financing and~~
10		-	~~Construction~~
	10	+	SENATE BILL 442
	11	+	C8 3lr1804
11	12
12		-	FOR the purpose of altering the amount of taxable or tax exempt bonds that the Maryland
13		-	Stadium Authority may issue for certain sports entertainment facilities; altering the
14		-	entities from which the Authority is required to have received a request for financing
15		-	and construction management services concerning a sports entertainment facility;
16		-	altering the entities with which the Authority is required to enter into an agreement
17		-	before issuing bonds to finance a sports entertainment facility; and generally
18		-	relating to sports entertainment facilities.
	13	+	By: Senator Corderman
	14	+	Introduced and read first time: February 2, 2023
	15	+	Assigned to: Budget and Taxation
	16	+	Committee Report: Favorable
	17	+	Senate action: Adopted
	18	+	Read second time: March 1, 2023
19	19
20		-	BY repealing and reenacting, with amendments,
21		-	Article – Economic Development
22		-	Section 10–628(c)(1) and 10–646.3(b), (e), and (f)
23		-	Annotated Code of Maryland
24		-	(2018 Replacement Volume and 2022 Supplement)
	20	+	CHAPTER ______
25	21
26		-	BY repealing and reenacting, without amendments,
27		-	Article – Economic Development
28		-	Section 10–646.3(a)
29		-	Annotated Code of Maryland
30		-	(2018 Replacement Volume and 2022 Supplement)
	22	+	AN ACT concerning 1
31	23
32		-	~~SECTION 1.~~ ~~BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,~~
33		-	~~That the Laws of Maryland read as follows:~~
	24	+	Economic Development – Sports Entertainment Facilities – Financing and 2
	25	+	Construction 3
34	26
35		-	Article – Economic Development
	27	+	FOR the purpose of altering the amount of taxable or tax exempt bonds that the Maryland 4
	28	+	Stadium Authority may issue for certain sports entertainment facilities; altering the 5
	29	+	entities from which the Authority is required to have received a request for financing 6
	30	+	and construction management services concerning a sports entertainment facility; 7
	31	+	altering the entities with which the Authority is required to enter into an agreement 8
	32	+	before issuing bonds to finance a sports entertainment facility; and generally 9
	33	+	relating to sports entertainment facilities. 10
36	34
37		-	10–628.
	35	+	BY repealing and reenacting, with amendments, 11
	36	+	Article – Economic Development 12
	37	+	Section 10–628(c)(1) and 10–646.3(b), (e), and (f) 13
	38	+	Annotated Code of Maryland 14
	39	+	(2018 Replacement Volume and 2022 Supplement) 15
38	40
39		-	(c) (1) Unless authorized by the General Assembly, the Board of Public Works
40		-	may not approve an issuance by the Authority of bonds, whether taxable or tax exempt,
41		-	that constitute tax supported debt or nontax supported debt if, after issuance, there would
42		-	be outstanding and unpaid more than the following face amounts of the bonds for the
43		-	purpose of financing acquisition, construction, renovation, and related expenses for
44		-	construction management, professional fees, and contingencies in connection with:
	41	+	BY repealing and reenacting, without amendments, 16
	42	+	Article – Economic Development 17
	43	+	Section 10–646.3(a) 18
	44	+	Annotated Code of Maryland 19
	45	+	(2018 Replacement Volume and 2022 Supplement) 20
45	46
46		-	(i) the Baltimore Convention facility – $55,000,000;
	47	+	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 21
	48	+	That the Laws of Maryland read as follows: 22 2 SENATE BILL 442
47	49
48		-	(ii) the Hippodrome Performing Arts facility – $20,250,000;
49		-	Ch. 468 2023 LAWS OF MARYLAND
50	50
51		-	– 2 –
52		-	(iii) the Montgomery County Conference facility – $23,185,000;
53	51
54		-	~~(iv) the Ocean City Convention facility~~ – ~~$24,500,000;~~
	52	+	Article – Economic Development 1
55	53
56		-	~~(v) Baltimore City public school facilities – $1,100,000,000;~~
	54	+	10–628. 2
57	55
58		-	(vi) supplemental facilities – $25,000,000;
	56	+	(c) (1) Unless authorized by the General Assembly, the Board of Public Works 3
	57	+	may not approve an issuance by the Authority of bonds, whether taxable or tax exempt, 4
	58	+	that constitute tax supported debt or nontax supported debt if, after issuance, there would 5
	59	+	be outstanding and unpaid more than the following face amounts of the bonds for the 6
	60	+	purpose of financing acquisition, construction, renovation, and related expenses for 7
	61	+	construction management, professional fees, and contingencies in connection with: 8
59	62
60		-	(~~vii~~) ~~racing facilities~~ – $~~375~~,000,000;
	63	+	(i) the Baltimore Convention facility – $55,000,000; 9
61	64
62		-	(~~viii~~) ~~public school facilities in~~ the ~~State~~ – $2,~~200,000~~,000;
	65	+	(ii) the Hippodrome Performing Arts facility – $20,250,000; 10
63	66
64		-	(ix) the Hagerstown Multi–Use Sports and Events Facility –
65		-	$59,500,000;
	67	+	(iii) the Montgomery County Conference facility – $23,185,000; 11
66	68
67		-	(x) sports entertainment facilities – [$200,000,000] $220,000,000;
68		-	and
	69	+	(iv) the Ocean City Convention facility – $24,500,000; 12
69	70
70		-	(xi) Prince George’s County Blue Line Corridor facilities –
71		-	$400,000,000.
	71	+	(v) Baltimore City public school facilities – $1,100,000,000; 13
72	72
73		-	10–~~646.3.~~
	73	+	(vi) supplemental facilities – $25,000,000; 14
74	74
75		-	(a) Except as authorized by § 10–639 of this subtitle, to finance site acquisition,
76		-	design, construction, equipping, and furnishing of any segment of a sports entertainment
77		-	facility, the Authority shall comply with this section.
	75	+	(vii) racing facilities – $375,000,000; 15
78	76
79		-	(b) (1) The Authority shall have received a written request for financing and
80		-	construction management services from the State, a county, or a local government in which
81		-	the sports entertainment facility is located or to be located OR A NONPROFIT
82		-	ORGANIZATION THAT WI LL OWN OR OPERATE THE SPORTS ENTERTAINMENT
83		-	FACILITY.
	77	+	(viii) public school facilities in the State – $2,200,000,000; 16
84	78
85		-	(2) The request shall include:
	79	+	(ix) the Hagerstown Multi–Use Sports and Events Facility – 17
	80	+	$59,500,000; 18
86	81
87		-	(i) the location of the proposed sports entertainment facility;
	82	+	(x) sports entertainment facilities – [$200,000,000] $220,000,000; 19
	83	+	and 20
88	84
89		-	(ii) the amount, source, and timing of funding not including
90		-	Authority bonds which may be issued to finance the proposed sports entertainment facility;
91		-	and
	85	+	(xi) Prince George’s County Blue Line Corridor facilities – 21
	86	+	$400,000,000. 22
92	87
93		-	(iii) a description of the anticipated use of the proposed sports
94		-	entertainment facility.
	88	+	10–646.3. 23
95	89
96		-	(e) The Authority may not issue bonds to finance a sports entertainment facility
97		-	until the Authority secures a written agreement with the State, county, or local government WES MOORE, Governor Ch. 468
	90	+	(a) Except as authorized by § 10–639 of this subtitle, to finance site acquisition, 24
	91	+	design, construction, equipping, and furnishing of any segment of a sports entertainment 25
	92	+	facility, the Authority shall comply with this section. 26
98	93
99		-	– 3 –
100		-	in which the sports entertainment facility is located OR A NONPROFIT ORGANIZATION
101		-	THAT WILL OWN OR OPERATE THE SPORTS E NTERTAINMENT FACILIT Y, as approved
102		-	by the Board of Public Works, under which:
	94	+	(b) (1) The Authority shall have received a written request for financing and 27
	95	+	construction management services from the State, a county, or a local government in which 28
	96	+	the sports entertainment facility is located or to be located OR A NONPROFIT 29 SENATE BILL 442 3
103	97
104		-	(1) the source of funding and the order in which funds will be spent is
105		-	described; and
106	98
107		-	~~(2)~~ the ~~State, county,~~ ~~[or] local government, OR NON PROFIT~~
108		-	~~ORGANIZATION agrees to:~~
	99	+	ORGANIZATION THAT WI LL OWN OR OPERATE THE SPORTS ENTERTAINMENT 1
	100	+	FACILITY. 2
109	101
110		-	(i) own, market, promote, and operate or contract for the marketing,
111		-	promotion, and operation of the sports entertainment facility in a manner that maximizes
112		-	the facility’s economic return;
	102	+	(2) The request shall include: 3
113	103
114		-	(ii) maintain and repair or contract for the maintenance and repair
115		-	of the sports entertainment facility so as to keep the sports entertainment facility in
116		-	first–class operating condition; and
	104	+	(i) the location of the proposed sports entertainment facility; 4
117	105
118		-	(iii) any other terms or conditions deemed necessary or appropriate
119		-	by the Authority.
	106	+	(ii) the amount, source, and timing of funding not including 5
	107	+	Authority bonds which may be issued to finance the proposed sports entertainment facility; 6
	108	+	and 7
120	109
121		-	(f) On or before December 31 each year, a county or local government in which a
122		-	sports entertainment facility financed in whole or in part under this subtitle is located OR
123		-	A NONPROFIT ORGANIZA TION THAT OWNS OR OPERATES A SPORTS EN TERTAINMENT
124		-	FACILITY shall report to the Senate Budget and Taxation Committee and the House
125		-	Appropriations Committee, in accordance with § 2–1257 of the State Government Article,
126		-	on the sports entertainment facility’s assessment of the maintenance and repair needed to
127		-	keep the facility in operating order.
	110	+	(iii) a description of the anticipated use of the proposed sports 8
	111	+	entertainment facility. 9
128	112
129		-	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
130		-	1, 2023.
	113	+	(e) The Authority may not issue bonds to finance a sports entertainment facility 10
	114	+	until the Authority secures a written agreement with the State, county, or local government 11
	115	+	in which the sports entertainment facility is located OR A NONPROFIT ORGANIZATION 12
	116	+	THAT WILL OWN OR OPERATE THE SPORTS E NTERTAINMENT FACILIT Y, as approved 13
	117	+	by the Board of Public Works, under which: 14
131	118
132		-	Approved by the Governor, May 8, 2023.
	119	+	(1) the source of funding and the order in which funds will be spent is 15
	120	+	described; and 16
	121	+
	122	+	(2) the State, county, [or] local government, OR NON PROFIT 17
	123	+	ORGANIZATION agrees to: 18
	124	+
	125	+	(i) own, market, promote, and operate or contract for the marketing, 19
	126	+	promotion, and operation of the sports entertainment facility in a manner that maximizes 20
	127	+	the facility’s economic return; 21
	128	+
	129	+	(ii) maintain and repair or contract for the maintenance and repair 22
	130	+	of the sports entertainment facility so as to keep the sports entertainment facility in 23
	131	+	first–class operating condition; and 24
	132	+
	133	+	(iii) any other terms or conditions deemed necessary or appropriate 25
	134	+	by the Authority. 26
	135	+
	136	+	(f) On or before December 31 each year, a county or local government in which a 27
	137	+	sports entertainment facility financed in whole or in part under this subtitle is located OR 28
	138	+	A NONPROFIT ORGANIZA TION THAT OWNS OR OPERATES A SPORTS EN TERTAINMENT 29
	139	+	FACILITY shall report to the Senate Budget and Taxation Committee and the House 30
	140	+	Appropriations Committee, in accordance with § 2–1257 of the State Government Article, 31
	141	+	on the sports entertainment facility’s assessment of the maintenance and repair needed to 32
	142	+	keep the facility in operating order. 33
	143	+	4 SENATE BILL 442
	144	+
	145	+
	146	+	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 1
	147	+	1, 2023. 2
	148	+
	149	+
	150	+
	151	+	Approved:
	152	+	________________________________________________________________________________
	153	+	Governor.
	154	+	________________________________________________________________________________
	155	+	President of the Senate.
	156	+	________________________________________________________________________________
	157	+	Speaker of the House of Delegates.