EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb1370*
HOUSE BILL 1370
R2, Q4, Q6 5lr2916
CF SB 881
By: Delegates Spiegel, Amprey, Boafo, Fair, and Foley
Introduced and read first time: February 7, 2025
Assigned to: Environment and Transportation and Appropriations
A BILL ENTITLED
AN ACT concerning 1
Transportation – Regional Transportation Authorities 2
FOR the purpose of imposing certain transportation authority sales tax surcharges, hotel 3
surcharges, and transfer tax surcharges; establishing the Baltimore Region, Capital 4
Region, and Southern Maryland Region transportation authorities to develop and 5
implement certain transportation plans; establishing the Baltimore Region, Capital 6
Region, and Southern Maryland Region transportation funds as special, nonlapsing 7
funds; requiring interest earnings of the funds to be credited to the funds; 8
authorizing a transportation authority to issue certain bonds payable from certain 9
revenues; and generally relating to regional transportation authorities. 10
BY repealing and reenacting, without amendments, 11
Article – State Finance and Procurement 12
Section 6–226(a)(2)(i) 13
Annotated Code of Maryland 14
(2021 Replacement Volume and 2024 Supplement) 15
BY repealing and reenacting, with amendments, 16
Article – State Finance and Procurement 17
Section 6–226(a)(2)(ii)204. and 205. 18
Annotated Code of Maryland 19
(2021 Replacement Volume and 2024 Supplement) 20
BY adding to 21
Article – State Finance and Procurement 22
Section 6–226(a)(2)(ii)206., 207., and 208. 23
Annotated Code of Maryland 24
(2021 Replacement Volume and 2024 Supplement) 25
BY repealing and reenacting, without amendments, 26
Article – Tax – General 27 2 HOUSE BILL 1370
Section 1–101(a) 1
Annotated Code of Maryland 2
(2022 Replacement Volume and 2024 Supplement) 3
BY adding to 4
Article – Tax – General 5
Section 1–101(c–1), (d–1), and (t–1) and 11–104(l) 6
Annotated Code of Maryland 7
(2022 Replacement Volume and 2024 Supplement) 8
BY repealing and reenacting, with amendments, 9
Article – Tax – General 10
Section 2–1303 and 11–102 11
Annotated Code of Maryland 12
(2022 Replacement Volume and 2024 Supplement) 13
BY repealing and reenacting, with amendments, 14
Article – Tax – Property 15
Section 13–201 and 13–202 16
Annotated Code of Maryland 17
(2019 Replacement Volume and 2024 Supplement) 18
BY repealing and reenacting, without amendments, 19
Article – Tax – Property 20
Section 13–203(a) 21
Annotated Code of Maryland 22
(2019 Replacement Volume and 2024 Supplement) 23
BY adding to 24
Article – Tax – Property 25
Section 13–203(c) and 13–209(j) 26
Annotated Code of Maryland 27
(2019 Replacement Volume and 2024 Supplement) 28
BY adding to 29
Article – Transportation 30
Section 10.5–101 through 10.5–413 to be under the new title “Title 10.5. Regional 31
Transportation Authorities” 32
Annotated Code of Maryland 33
(2020 Replacement Volume and 2024 Supplement) 34
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 35
That the Laws of Maryland read as follows: 36
Article – State Finance and Procurement 37
6–226. 38 HOUSE BILL 1370 3
(a) (2) (i) 1. This subparagraph does not apply in fiscal years 2024 1
through 2028. 2
2. Notwithstanding any other provision of law, and unless 3
inconsistent with a federal law, grant agreement, or other federal requirement or with the 4
terms of a gift or settlement agreement, net interest on all State money allocated by the 5
State Treasurer under this section to special funds or accounts, and otherwise entitled to 6
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 7
Fund of the State. 8
(ii) The provisions of subparagraph (i) of this paragraph do not apply 9
to the following funds: 10
204. Victims of Domestic Violence Program Grant Fund; [and] 11
205. the Proposed Programs Collaborative Grant Fund; 12
206. THE BALTIMORE REGION TRANSPORTATION FUND; 13
207. THE CAPITAL REGION TRANSPORTATION FUND; AND 14
208. THE SOUTHERN MARYLAND TRANSPORTATION 15
FUND. 16
Article – Tax – General 17
1–101. 18
(a) In this article the following words have the meanings indicated. 19
(C–1) “BALTIMORE REGION ” HAS THE MEANING STAT ED IN § 10.5–101 OF THE 20
TRANSPORTATION ARTICLE. 21
(D–1) “CAPITAL REGION ” HAS THE MEANING STAT ED IN § 10.5–201 OF THE 22
TRANSPORTATION ARTICLE. 23
(T–1) “SOUTHERN MARYLAND REGION ” HAS THE MEANING STAT ED IN § 24
10.5–301 OF THE TRANSPORTATION ARTICLE. 25
2–1303. 26
(A) After making the distributions required under §§ 2–1301 through 2–1302.4 of 27
this subtitle, the Comptroller shall pay: 28
4 HOUSE BILL 1370
(1) revenues from the hotel surcharge into the Dorchester County 1
Economic Development Fund established under § 10–130 of the Economic Development 2
Article; 3
(2) FROM THE REVENUES FROM THE TRANSPORTATION AUTHO RITY 4
SURCHARGE ESTABLISHE D UNDER § 11–102(C)(1) OF THIS ARTICLE THAT ARE 5
ATTRIBUTABLE TO RETA IL SALES IN THE BALTIMORE REGION OR USES, IN THE 6
BALTIMORE REGION , OF TANGIBLE PERSONAL PROPERTY, A DIGITAL CODE , A 7
DIGITAL PRODUCT , OR A TAXABLE SERVICE : 8
(I) 70% TO THE BALTIMORE REGION TRANSPORTATION FUND 9
ESTABLISHED UNDER § 10.5–109 OF THE TRANSPORTATION ARTICLE; AND 10
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHIN THE 11
BALTIMORE REGION DIST RIBUTED IN PROPORTIO N TO THE RETAIL SALE S IN THE 12
COUNTIES AND MUNICIP ALITIES OR USES, IN THE COUNTIES OR MUNICIPA LITIES, OF 13
TANGIBLE PERSONAL PR OPERTY, A DIGITAL CODE , A DIGITAL PRODUCT , OR A 14
TAXABLE SERVICE ; 15
(3) FROM THE REVENUES FROM THE TRANSPORTATION AUTHO RITY 16
HOTEL SURCHARGE ESTABLISHED UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 17
ARE ATTRIBUTABLE TO THE TRANSPORTATION A UTHORITY HOTEL SURCH ARGE IN 18
THE BALTIMORE REGION : 19
(I) 70% TO THE BALTIMORE REGION TRANSPORTATION FUND 20
ESTABLISHED UNDER § 10.5–109 OF THE TRANSPORTATION ARTICLE; AND 21
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHI N THE 22
BALTIMORE REGION DIST RIBUTED IN PROPORTIO N TO THE TRANSPORTATION 23
AUTHORITY HOTEL SURC HARGE FROM THE COUNTIES AND MUN ICIPALITIES; 24
(4) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 25
SURCHARGE ESTABLISHE D UNDER § 11–102(C)(1) OF THIS ARTICLE THAT ARE 26
ATTRIBUTABLE TO RETA IL SALES IN THE CAPITAL REGION OR USE S, IN THE 27
CAPITAL REGION, OF TANGIBLE PERSONAL PROPERTY, A DIGITAL CODE, A DIGITAL 28
PRODUCT, OR A TAXABLE SERVICE : 29
(I) 70% TO THE CAPITAL REGION TRANSPORTATION FUND 30
ESTABLISHED UNDER § 10.5–209 OF THE TRANSPORTATION ARTICLE; AND 31
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHI N THE 32
CAPITAL REGION DISTRIBUTED I N PROPORT ION TO THE RETAIL SA LES IN THE 33
COUNTIES AND MUNICIP ALITIES OR USES, IN THE COUNTIES OR M UNICIPALITIES, OF 34 HOUSE BILL 1370 5
TANGIBLE PERSONAL PR OPERTY, A DIGITAL CODE , A DIGITAL PRODUCT , OR A 1
TAXABLE SERVICE ; 2
(5) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 3
HOTEL SURCHARGE ESTABLISHE D UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 4
ARE ATTRIBUTABLE TO THE TRANSPORTATION A UTHORITY HOTEL SURCH ARGE IN 5
THE CAPITAL REGION: 6
(I) 70% TO THE CAPITAL REGION TRANSPORTATION FUND 7
ESTABLISHED UNDER § 10.5–209 OF THE TRANSPORTATION ARTICLE; AND 8
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHI N THE 9
CAPITAL REGION DISTRIBUTED I N PROPORTION TO THE TRANSPORTATION 10
AUTHORITY HOTEL SURC HARGE FROM THE COUNT IES AND MUNICIPALITI ES; 11
(6) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 12
SURCHARGE ESTABLISHE D UNDER § 11–102(C)(1) OF THIS ARTICLE THAT ARE 13
ATTRIBUTABLE TO RETA IL SALES IN THE SOUTHERN MARYLAND REGION OR US ES, 14
IN THE SOUTHERN MARYLAND REGION , OF TANGIBLE PERSONAL PROPERTY, A 15
DIGITAL CODE, A DIGITAL PRODUCT , OR A TAXABLE SER VICE: 16
(I) 70% TO THE SOUTHERN MARYLAND REGION 17
TRANSPORTATION FUND ESTABLISHED UNDE R § 10.5–309 OF THE 18
TRANSPORTATION ARTICLE; AND 19
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHI N THE 20
SOUTHERN MARYLAND REGION DISTRIBUTED I N PROPORTION TO THE RETAIL 21
SALES IN THE COUNTIE S AND MUNICIPALITIES OR USES, IN THE COUNTIES OR 22
MUNICIPALITIES , OF TANGIBLE PERSONAL PROPERTY, A DIGITAL CODE, A DIGITAL 23
PRODUCT, OR A TAXABLE SERVICE ; 24
(7) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 25
HOTEL SURCHARGE ESTABLISHED UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 26
ARE ATTRIBUTABLE TO THE TRANSPORTATION A UTHORITY HOTEL SURCH ARGE IN 27
THE SOUTHERN MARYLAND REGION: 28
(I) 70% TO THE SOUTHERN MARYLAND REGION 29
TRANSPORTATION FUND ESTABLISHED UNDE R § 10.5–309 OF THE 30
TRANSPORTATION ARTICLE; AND 31
(II) 30% TO THE COUNTIES AND MUNICIPALITIES WITHI N THE 32
SOUTHERN MARYLAND REGION DISTRIBUTED I N PROPORTION TO THE 33 6 HOUSE BILL 1370
TRANSPORTATION AUTHO RITY HOTEL SURCHARGE FROM THE COUNTIES AN D 1
MUNICIPALITIES ; 2
[(2)] (8) to the Blueprint for Maryland’s Future Fund established under 3
§ 5–206 of the Education Article, the following percentage of the remaining sales and use 4
tax revenues: 5
(i) for fiscal year 2023, 9.2%; 6
(ii) for fiscal year 2024, 11.0%; 7
(iii) for fiscal year 2025, 11.3%; 8
(iv) for fiscal year 2026, 11.7%; and 9
(v) for fiscal year 2027 and each fiscal year thereafter, 12.1%; and 10
[(3)] (9) the remaining sales and use tax revenue into the General Fund 11
of the State. 12
(B) A COUNTY OR MUNICIPALI TY THAT RECEIVES A PAYMENT UNDER 13
SUBSECTION (A)(2) THROUGH (7) OF THIS SECTION MAY USE THE REVENUE ONLY 14
FOR TRANSPORTATION P URPOSES. 15
11–102. 16
(a) Except as otherwise provided in this title, a tax is imposed on: 17
(1) a retail sale in the State; and 18
(2) a use, in the State, of tangible personal property, a digital code, a digital 19
product, or a taxable service. 20
(b) (1) Subject to paragraph (2) of this subsection, in addition to the tax 21
imposed under subsection (a) of this section, a hotel surcharge is imposed in Dorchester 22
County on the sale of a right to occupy a room or lodgings as a transient guest in an 23
establishment that offers at least 380 rooms. 24
(2) The hotel surcharge imposed under paragraph (1) of this subsection 25
may not be imposed if the Maryland Economic Development Corporation certifies to the 26
Comptroller that the bonds issued by the Maryland Economic Development Corporation 27
secured by the Dorchester County Economic Development Fund established under § 28
10–130 of the Economic Development Article have been paid in full. 29
HOUSE BILL 1370 7
(c) (1) IN ADDITION TO THE TA X IMPOSED UNDER SUBS ECTION (A) OF 1
THIS SECTION, A TRANSPORTATION AUTHO RITY SURCHARGE IS IM POSED IN THE 2
BALTIMORE REGION, CAPITAL REGION, AND SOUTHERN MARYLAND REGION ON: 3
(I) A RETAIL SALE IN THE REGION; AND 4
(II) A USE, IN THE REGION, OF TANGIBLE PERSONAL PROPERTY, 5
A DIGITAL CODE, A DIGITAL PRODUCT , OR A TAXABLE SERVICE . 6
(2) IN ADDITION TO THE TA X IMPOSED UNDER SUBS ECTION (A) OF 7
THIS SECTION AND THE SURCHARGE IMPOSED UN DER PARAGRAPH (1) OF THIS 8
SUBSECTION, A TRANSPORTATION AUTHO RITY HOTEL SURCHARGE IS I MPOSED ON 9
THE SALE OF A RIGHT TO OCCUPY A ROOM OR LODGINGS AS A TRANSI ENT GUEST IN 10
THE BALTIMORE REGION , CAPITAL REGION, AND SOUTHERN MARYLAND REGION . 11
(D) (1) A county, municipal corporation, special taxing district, or other 12
political subdivision of the State may not impose any retail sales or use tax except: 13
(i) a sales tax or use tax that was in effect on January 1, 1971; 14
(ii) a tax on the sale or use of: 15
1. fuels; 16
2. utilities; 17
3. space rentals; or 18
4. any controlled dangerous substance, as defined in § 5–101 19
of the Criminal Law Article, unless the sale is made by a person who registers under and 20
complies with Title 5, Subtitle 3 of the Criminal Law Article; or 21
(iii) a tax imposed by a code county on the sale or use of food and 22
beverages authorized under § 20–602 of the Local Government Article. 23
(2) Paragraph (1) of this subsection may not be construed as conferring 24
authority to impose a sales and use tax. 25
11–104. 26
(L) (1) THE RATE OF THE TRANS PORTATION AUTHORITY SURCHARGE 27
IMPOSED UNDER § 11–102(C)(1) OF THIS SUBTITLE IS 0.5%. 28
(2) THE RATE OF THE TRANS PORTATION AUTHORITY HOTEL 29
SURCHARGE IMPOSED UN DER § 11–102(C)(2) OF THIS SUBTITLE IS 1%. 30 8 HOUSE BILL 1370
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 1
as follows: 2
Article – Tax – Property 3
13–201. 4
(A) In this subtitle[, “transfer] THE FOLLOWING WORDS HAVE THE MEANINGS 5
INDICATED. 6
(B) “BALTIMORE REGION ” HAS THE MEANING STAT ED IN § 10.5–101 OF THE 7
TRANSPORTATION ARTICLE. 8
(C) “CAPITAL REGION ” HAS THE MEANING STAT ED IN § 10.5–201 OF THE 9
TRANSPORTATION ARTICLE. 10
(D) “SOUTHERN MARYLAND REGION ” HAS THE MEANING STAT ED IN § 11
10.5–301 OF THE TRANSPORTATION ARTICLE. 12
(E) “TRANSFER tax” means the tax imposed under this subtitle. 13
13–202. 14
(A) Except as otherwise provided in this subtitle, a transfer tax is imposed on an 15
instrument of writing: 16
(1) recorded with the clerk of the circuit court for a county; or 17
(2) filed with the Department and described in § 12–103(d) of this article. 18
(B) IN ADDITION TO THE TR ANSFER TAX IMPOSED U NDER SUBSECTION (A) 19
OF THIS SECTION , A TRANSPORTATION AUTHO RITY TRANSFER TAX SU RCHARGE IS 20
IMPOSED ON AN INSTRU MENT OF WRITING THAT TRANSFERS NONRE SIDENTIAL 21
PROPERTY AND IS RECORDED WITH THE CL ERK OF THE CIRCUIT C OURT FOR A 22
COUNTY THAT IS LOCATED WITHIN TH E BALTIMORE REGION , THE CAPITAL REGION, 23
AND THE SOUTHERN MARYLAND REGION . 24
13–203. 25
(a) (1) Except as provided in subsections (a–1) and (b) of this section, the rate 26
of the transfer tax is 0.5% of the consideration payable for the instrument of writing. 27
(2) The consideration: 28
HOUSE BILL 1370 9
(i) includes the amount of any mortgage or deed of trust assumed 1
by the grantee; and 2
(ii) subject to item (i) of this paragraph, includes only the amount 3
paid or delivered in return for the sale of the property and does not include the amount of 4
any debt forgiven or no longer secured by a mortgage or deed of trust on the property. 5
(C) THE RATE OF THE TRANSPORTATION A UTHORITY TRANSFER TA X 6
SURCHARGE IMPOSED UNDER § 13–202 OF THIS SUBTITLE IS 0.15% OF THE 7
CONSIDERATION PAYABL E FOR THE INSTRUMENT OF WRITING TRANSFERRING 8
NONRESIDENTIAL PROPERTY . 9
13–209. 10
(J) (1) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 11
TRANSFER TAX SURCHAR GE ON AN INSTRUMENT OF WRI TING RECORDED WITH T HE 12
CLERK OF THE CIRCUIT COURT FOR A COUNTY T HAT IS LOCATED WITHI N THE 13
BALTIMORE REGION SHAL L BE DISTRIBUTED AS FOLLOWS: 14
(I) 70% TO THE BALTIMORE REGION TRANSPORTATION FUND 15
ESTABLISHED UNDER § 10.5–109 OF THE TRANSPORTATION ARTICLE; AND 16
(II) 1. EXCEPT AS PROVIDED U NDER SUBSUBPARAGRAPH 2 17
OF THIS SUBPARAGRAPH , 30% TO THE COUNTY WHERE THE PROPERTY IS LOCATED ; 18
OR 19
2. IF THE TRANSFERRED PROPERTY IS LOCATED IN A 20
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY I S LOCATED. 21
(2) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 22
TRANSFER TAX SURCHAR GE ON AN INSTRUMENT OF WRI TING RECORDED WITH T HE 23
CLERK OF THE CIRCUIT COURT FOR A COUNTY THAT IS LOCATED WITH IN THE 24
CAPITAL REGION SHALL BE DISTRIBUTED AS FO LLOWS: 25
(I) 70% TO THE CAPITAL REGION TRANSPORTATION FUND 26
ESTABLISHED UNDER § 10.5–209 OF THE TRANSPORTATION ARTICLE; AND 27
(II) 1. EXCEPT AS PROVIDED U NDER SUBSUBPARAGRAPH 2 28
OF THIS SUBPARAGRAPH , 30% TO THE COUNTY WHERE THE PROPERTY IS LOCA TED; 29
OR 30
2. IF THE TRANSFERRED P ROPERTY IS LOCATED I N A 31
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY I S LOCATED. 32
10 HOUSE BILL 1370
(3) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 1
TRANSFER TAX SU RCHARGE ON AN INSTRUMENT OF WRI TING RECORDED WITH T HE 2
CLERK OF THE CIRCUIT COURT FOR A COUNTY T HAT IS LOCATED WITHI N THE 3
SOUTHERN MARYLAND REGION SHALL BE DISTRIBUTED AS FO LLOWS: 4
(I) 70% TO THE SOUTHERN MARYLAND REGION 5
TRANSPORTATION FUND ESTABLISHED UNDE R § 10.5–309 OF THE 6
TRANSPORTATION ARTICLE; AND 7
(II) 1. EXCEPT AS PROVIDED U NDER SUBSUBPARAGRAPH 2 8
OF THIS SUBPARAGRAPH , 30% TO THE COUNTY WHERE THE PROPERTY IS LOCA TED; 9
OR 10
2. IF THE TRANSFERRED P ROPERTY IS LOCATED IN A 11
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY I S LOCATED. 12
(4) A COUNTY OR MUNICIPALI TY THAT RECEIVES A D ISTRIBUTION 13
UNDER THIS SUBSECTIO N MAY USE THE REVENUE ONLY FOR TRANSPORTATION 14
PURPOSES. 15
SECTION 3. AND BE IT FURTHER EN ACTED, That the Laws of Maryland read 16
as follows: 17
Article – Transportation 18
TITLE 10.5. REGIONAL TRANSPORTATION AUTHORITIES. 19
SUBTITLE 1. BALTIMORE REGION TRANSPORTATION AUTHORITY. 20
10.5–101. 21
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 22
INDICATED. 23
(B) “AUTHORITY” MEANS THE BALTIMORE REGION TRANSPORTATION 24
AUTHORITY. 25
(C) “BALTIMORE REGION ” MEANS ANNE ARUNDEL COUNTY, BALTIMORE 26
COUNTY, BALTIMORE CITY, AND HOWARD COUNTY. 27
(D) “TRANSPORTATION FACILI TY” HAS THE MEANING STAT ED IN § 3–101 OF 28
THIS ARTICLE. 29
10.5–102. 30 HOUSE BILL 1370 11
(A) THERE IS A BALTIMORE REGION TRANSPORTATION AUTHORITY. 1
(B) THE AUTHORITY IS A BODY P OLITIC AND CORPORATE AND IS AN 2
INSTRUMENTALITY OF T HE STATE. 3
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 4
IS THE PERFORMANCE OF AN ESSENTI AL GOVERNMENTAL FUNC TION. 5
10.5–103. 6
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 7
INVESTMENT S IN TRANSPORTATION PROJECTS THAT MAXIMIZE THE MOVEMENT OF 8
PEOPLE AND PROMOTE EFFICIENCY, SAFETY, AND OTHER VALUES SUCH AS 9
ENVIRONMENTAL AND SO CIAL JUSTICE IMPACT S. 10
10.5–104. 11
(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBER S: 12
(1) THE MAYOR OF BALTIMORE CITY, OR THE MAYOR’S DESIGNEE; 13
(2) THE COUNTY EXECUTIVE OF ANNE ARUNDEL COUNTY, OR THE 14
COUNTY EXECUTIVE’S DESIGNEE; 15
(3) THE COUNTY EXECUTIVE OF BALTIMORE COUNTY, OR THE 16
COUNTY EXECUTIVE’S DESIGNEE; 17
(4) THE COUNTY EXECUTIVE OF HOWARD COUNTY, OR THE COUNTY 18
EXECUTIVE’S DESIGNEE; 19
(5) ONE ELECTED OFFICIAL FROM EACH MUNICIPALI TY WITHIN THE 20
BALTIMORE REGION , APPOINTED BY THE GOVERNING B ODY OF THE MUNICIPAL ITY; 21
(6) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 22
WITHIN THE BALTIMORE REGION , APPOINTED BY THE PRESIDENT OF THE SENATE; 23
(7) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 24
WITHIN THE BALTIMORE REGION , APPOINTED BY THE SPEAKER OF THE HOUSE; 25
AND 26
12 HOUSE BILL 1370
(8) TWO MEMBERS WITH EXPE RIENCE IN TRANSPORTA TION 1
PLANNING, FINANCE, ENGINEERING , CONSTRUCTION , OR MANAGEMENT , 2
APPOINTED BY THE GOVERNOR. 3
(B) THE SECRETARY SHALL SERVE AS A NONVOTING , EX OFFICIO MEMBER . 4
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 5
(2) AT THE END OF A TERM , A MEMBER CONTINUES T O SERVE UNTIL 6
A SUCCESSOR IS APPOI NTED AND QUALIFIES . 7
(D) FROM AMONG ITS MEMBER S, THE AUTHORITY SHALL ELECT A CHAIR 8
AND A VICE CHAIR. 9
(E) THE AUTHORITY SHALL ADOPT RULES AND REGULATION S NECESSARY 10
FOR THE CONDUCT OF I TS AFFAIRS. 11
10.5–105. 12
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 13
SERVE AS THE CHIEF E XECUTIVE OFFICER OF THE AUTHORITY. 14
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 15
THE AUTHORITY. 16
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS , STAFF, AND 17
AGENTS, INCLUDING ENGINEERIN G, ARCHITECTURAL , FISCAL, AND CONSTRUCTION 18
EXPERTS AND ATTORNEY S, AND SET THEIR COMPEN SATION. 19
10.5–106. 20
(A) THE AUTHORITY MAY : 21
(1) ADOPT BYLAWS FOR THE CONDUCT OF ITS B USINESS; 22
(2) ADOPT A SEAL; 23
(3) MAINTAIN OFFICES AT A PLACE IT DESIGNATES IN THE STATE; 24
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 25
FEDERAL OR STATE GOVERNMENT , A LOCAL GOVERNMENT , A COLLEGE OR 26
UNIVERSITY, OR A PRIVATE SOURCE ; 27
HOUSE BILL 1370 13
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INST RUMENTS; 1
(6) SUE OR BE SUED; 2
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE , AND USE: 3
(I) A FRANCHISE, PATENT, OR LICENSE; 4
(II) STOCK OR OTHER FORMS OF OWNERSHIP INTERES TS IN 5
CORPORATIONS , LIMITED LIABILITY CO MPANIES, PARTNERSHIPS , OR OTHER 6
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PR OFIT; 7
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 8
PROPERTY; OR 9
(IV) AN INTEREST IN A PROP ERTY LISTED UNDER ITEMS (I) 10
THROUGH (III) OF THIS ITEM; 11
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 12
DISPOSE OF PROPERTY OR A PROPERTY INTERE ST THAT IT ACQUIRES ; 13
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 14
CHARGES FOR SERVICES AND RESOURCES I T PROVIDES OR MAKES AVAILABLE; 15
(10) CREATE, OWN, CONTROL, OR BE A MEMBER OF A CORPORATION , 16
LIMITED LIABILITY CO MPANY, PARTNERSHIP , OR OTHER ENTITY , WHETHER 17
OPERATED FOR PROFIT OR NOT FOR PROFIT ; 18
(11) EXERCISE POWER USUALL Y POSSESSED BY A PRI VATE 19
CORPORATION IN PERFORMIN G SIMILAR FUNCTIONS UNLESS TO DO SO WOUL D 20
CONFLICT WITH STATE LAW; AND 21
(12) DO ALL THINGS NECESSA RY OR CONVENIENT TO CARRY OUT THE 22
POWERS GRANTED BY TH IS SUBTITLE. 23
(B) THE AUTHORITY MAY DELEGAT E ANY POWER OR DUTY IT CONSIDERS 24
APPROPRIATE TO A MEMBER , AN OFFICER, AN AGENT, OR AN EMPLOYEE OF TH E 25
AUTHORITY. 26
10.5–107. 27
14 HOUSE BILL 1370
(A) (1) THE AUTHORITY SHALL PREPA RE A REGIONAL TRANSPORTATION 1
PLAN FOR THE BALTIMORE REGION THAT INCLUDES TRANSPORTAT ION 2
IMPROVEMENTS OF REGI ONAL SIGNIFICANCE . 3
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPORTATION 4
PLAN. 5
(B) AFTER THE ADOPTION OF A REGIONAL TRANSPORTATION PLAN, THE 6
AUTHORITY MAY CONSTRU CT OR ACQUIRE , BY PURCHASE , LEASE, CONTRACT, OR 7
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGION AL 8
TRANSPORTATION PLAN. 9
10.5–108. 10
(A) THE AUTHORITY SHALL HAVE THE FOLLOWING DUTIES AND 11
RESPONSIBILITIES : 12
(1) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION 13
PROGRAMS; 14
(2) LONG–RANGE REGIONAL PLANN ING FOR THE BALTIMORE 15
REGION, BOTH FISCALLY CONSTR AINED AND UNCONSTRAINED ; 16
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 17
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC –PRIVATE 18
TRANSPORTATION PROJE CTS, AND FUNDING ALLOCATI ONS; 19
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 20
PROJECTS ANY FUNDS MADE AVAIL ABLE TO THE AUTHORITY AND , AT THE 21
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS ; 22
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 23
TRANSPORTATION PROJE CTS FOR RECEIPT OF F EDERAL AND STATE FUNDS; 24
(6) RECOMMENDIN G TO THE DEPARTMENT USE OR CHA NGES IN USE 25
OF TOLLS OR CHARGES FOR FACILITIES IN TH E BALTIMORE REGION ; 26
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTAT ION ISSUES OF 27
A MULTIJURISDICTIONA L NATURE, INCLUDING INTELLIGEN T TRANSPORTATION 28
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR A ND RESPONSE TO 29
EMERGENCIES ; 30
HOUSE BILL 1370 15
(8) SERVING AS AN ADVOCAT E FOR THE TRANSPORTA TION NEEDS OF 1
THE BALTIMORE REGION BEFO RE THE STATE AND FEDERAL GOV ERNMENTS; AND 2
(9) APPLYING TO AND NEGOT IATING WITH THE FEDE RAL 3
GOVERNMENT AND THE STATE FOR GRANTS AND ANY O THER FUNDS AVAILABLE TO 4
CARRY OUT THE PURPOS ES OF THIS SUBTITLE . 5
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT , 6
METROPOLITAN PLANNING ORGANIZATIONS , AND OTHER STAKEHOLDE RS IN 7
RECOMMENDING OR PRIO RITIZING ANY TRANSPO RTATION PROJECT. 8
10.5–109. 9
(A) IN THIS SECTION , “FUND” MEANS THE BALTIMORE REGION 10
TRANSPORTATION FUND. 11
(B) THERE IS A BALTIMORE REGION TRANSPORTATION FUND. 12
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 13
FACILITIES IN THE BALTIMORE REGION . 14
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 15
THE FUND. 16
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 17
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 18
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 19
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 20
(F) THE FUND CONSISTS OF : 21
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 22
(2) INTEREST EARNINGS ; 23
(3) REVENUE DISTRIBUTED TO THE FUND UNDER § 2–1303 OF THE 24
TAX – GENERAL ARTICLE; 25
(4) REVENUE DISTRIBUTED TO THE FUND UNDER § 13–209 OF THE 26
TAX – PROPERTY ARTICLE; AND 27
16 HOUSE BILL 1370
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 1
THE BENEFIT OF THE FUND. 2
(G) THE FUND MAY BE USED ONLY FOR THE FINANCING OF 3
TRANSPORTATION FACIL ITIES IN THE BALTIMORE REGION. 4
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 5
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 6
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO 7
THE FUND. 8
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 9
WITH THE STATE BUDGET . 10
(J) MONEY EXPENDED FROM T HE FUND FOR FINANCING TR ANSPORTATION 11
FACILITIES IN THE BALTIMORE REGION IS S UPPLEMENTAL TO AND I S NOT 12
INTENDED TO TAKE THE PLACE OF FUNDING THA T OTHERWISE WOULD BE 13
APPROPRIATED FOR TRA NSPORTATION FACILITIES IN THE BALTIMORE REGION . 14
10.5–110. 15
ON OR BEFORE JANUARY 1, 2026, AND EACH JANUARY 1 THEREAFTER , THE 16
AUTHORITY SHALL REPOR T TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 17
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES OF THE 18
AUTHORITY DURING THE PRIOR Y EAR. 19
SUBTITLE 2. CAPITAL REGION TRANSPORTATION AUTHORITY. 20
10.5–201. 21
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 22
INDICATED. 23
(B) “AUTHORITY” MEANS THE CAPITAL REGION TRANSPORTATION 24
AUTHORITY. 25
(C) “CAPITAL REGION ” MEANS FREDERICK COUNTY, MONTGOMERY 26
COUNTY, AND PRINCE GEORGE’S COUNTY. 27
(D) “TRANSPORTATION FACILI TY” HAS THE MEANING STAT ED IN § 3–101 OF 28
THIS ARTICLE. 29
HOUSE BILL 1370 17
10.5–202. 1
(A) THERE IS A CAPITAL REGION TRANSPORTATION AUTHORITY. 2
(B) THE AUTHORITY IS A BODY POLITIC AND CORPORAT E AND IS AN 3
INSTRUMENTALITY OF T HE STATE. 4
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 5
IS THE PERFORMANCE O F AN ESSENTIAL GOVER NMENTAL FUNCTION . 6
10.5–203. 7
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 8
INVESTMENTS IN TRANS PORTATION PROJECTS T HAT MAXIMIZE THE MOV EMENT OF 9
PEOPLE AND PROMOTE E FFICIENCY, SAFETY, AND OTHER VALUES SUC H AS 10
ENVIRONMENTAL AND SO CIAL JUSTICE IMPACTS . 11
10.5–204. 12
(A) THE AUTHORITY CONSISTS OF T HE FOLLOWING MEMBERS : 13
(1) THE COUNTY EXECUTIVE OF FREDERICK COUNTY, OR THE 14
COUNTY EXECUTIVE’S DESIGNEE; 15
(2) THE COUNTY EXECUTIVE OF MONTGOMERY COUNTY, OR THE 16
COUNTY EXECUTIVE’S DESIGNEE; 17
(3) THE COUNTY EXECUTIVE OF PRINCE GEORGE’S COUNTY, OR THE 18
COUNTY EXECUTIVE’S DESIGNEE; 19
(4) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 20
WITHIN THE CAPITAL R EGION, APPOINTED BY THE PRESIDENT OF THE SENATE; 21
(5) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 22
WITHIN THE CAPITAL R EGION, APPOINTED BY THE SPEAKER OF THE HOUSE; 23
(6) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N FREDERICK 24
COUNTY, DESIGNATED BY THE MU NICIPALITIES IN FREDERICK COUNTY; 25
(7) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N 26
MONTGOMERY COUNTY, DESIGNATED BY THE MUNICIPALITIES IN MONTGOMERY 27
COUNTY; 28
18 HOUSE BILL 1370
(8) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N PRINCE 1
GEORGE’S COUNTY, DESIGNATED BY THE MU NICIPALITIES IN PRINCE GEORGE’S 2
COUNTY; AND 3
(9) TWO MEMBERS WITH EXPE RIENCE IN TRANSPORTA TION 4
PLANNING, FINANCE, ENGINEERING, CONSTRUCTION , OR MANAGEMENT , 5
APPOINTED BY THE GOVERNOR. 6
(B) THE SECRETARY SHALL SERVE AS A NONVOTING , EX OFFICIO MEMBER . 7
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 8
(2) AT THE END OF A TERM , A MEMBER CONTINUES T O SERVE UNTIL 9
A SUCCESSOR IS APPOI NTED AND QUALIFIES . 10
(D) FROM AMONG ITS MEMBER S, THE AUTHORITY SHALL ELECT A CHAIR 11
AND A VICE CHAIR. 12
(E) THE AUTHORITY SHALL ADOPT RULES AND REGULATION S NECESSARY 13
FOR THE CONDUCT OF I TS AFFAIRS. 14
10.5–205. 15
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 16
SERVE AS THE CHIEF E XECUTIVE OFFICER OF THE AUTHORITY. 17
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 18
THE AUTHORITY. 19
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS , STAFF, AND 20
AGENTS, INCLUDING ENGINEERIN G, ARCHITECTURAL , FISCAL, AND CONSTRUCTION 21
EXPERTS AND ATTORNEY S, AND SET THEIR COMPEN SATION. 22
10.5–206. 23
(A) THE AUTHORITY MAY : 24
(1) ADOPT BYLAWS FOR THE CONDUCT OF ITS BUSIN ESS; 25
(2) ADOPT A SEAL; 26
(3) MAINTAIN OFFICES AT A PLACE IT DESIGNATES IN THE STATE; 27
HOUSE BILL 1370 19
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 1
FEDERAL OR STATE GOVERNMENT , A LOCAL GOVERNMENT , A COLLEGE OR 2
UNIVERSITY, OR A PRIVATE SOURCE ; 3
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INST RUMENTS; 4
(6) SUE OR BE SUED; 5
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE , AND USE: 6
(I) A FRANCHISE, PATENT, OR LICENSE; 7
(II) STOCK OR OTHER FORMS OF OWNERSHIP INTERES TS IN 8
CORPORATIONS , LIMITED LIABILITY CO MPANIES, PARTNERSHIPS , OR OTHER 9
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PR OFIT; 10
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 11
PROPERTY; OR 12
(IV) AN INTEREST IN A PROP ERTY LISTED UNDER ITEMS (I) 13
THROUGH (III) OF THIS ITEM; 14
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 15
DISPOSE OF PROPERTY OR A PROPERTY INTE REST THAT IT ACQUIRE S; 16
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 17
CHARGES FOR SERVICES AND RESOURCES IT PRO VIDES OR MAKES AVAIL ABLE; 18
(10) CREATE, OWN, CONTROL, OR BE A MEMBER OF A CORPORATION , 19
LIMITED LIABILITY CO MPANY, PARTNERSHIP , OR OTHER ENTITY , WHETHER 20
OPERATED FOR PROFIT OR NOT FOR PROFIT ; 21
(11) EXERCISE POWER USUALL Y POSSESSED BY A PRI VATE 22
CORPORATION IN PERFO RMING SIMILAR FUNCTI ONS UNLESS TO DO SO WOULD 23
CONFLICT WITH STATE LAW; AND 24
(12) DO ALL THINGS NECESSA RY OR CONVENIENT TO CARRY OUT THE 25
POWERS GRANTED BY TH IS SUBTITLE. 26
(B) THE AUTHORITY MAY DELEGAT E ANY POWER OR DUTY IT CONSIDERS 27
APPROPRIATE TO A MEM BER, AN OFFICER, AN AGENT, OR AN EMPLOYEE OF TH E 28
AUTHORITY. 29
20 HOUSE BILL 1370
10.5–207. 1
(A) (1) THE AUTHORITY SHALL PREPA RE A REGIONAL TRANSPORTATION 2
PLAN FOR THE CAPITAL REGION THAT INCLUDES TRANSPORTATION 3
IMPROVEMENTS OF REGI ONAL SIGNIFICANCE . 4
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPORTATION 5
PLAN. 6
(B) AFTER THE ADOPTION OF A REGIONAL TRANSPORTATION PLAN, THE 7
AUTHORITY MAY CON STRUCT OR ACQUIRE , BY PURCHASE , LEASE, CONTRACT, OR 8
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGIONAL 9
TRANSPORTATION PLAN. 10
10.5–208. 11
(A) THE AUTHORITY SHALL HAVE THE FOLLOWING DUTIES AND 12
RESPONSIBILITIES : 13
(1) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION 14
PROGRAMS; 15
(2) LONG–RANGE REGIONAL PLANN ING FOR THE CAPITAL REGION, 16
BOTH FISCALLY CONSTR AINED AND UNCONSTRAI NED; 17
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 18
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC–PRIVATE 19
TRANSPORTATION PROJE CTS, AND FUNDING ALLOCATI ONS; 20
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 21
PROJECTS ANY FUNDS M ADE AVAILABLE TO THE AUTHORITY AND , AT THE 22
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS ; 23
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 24
TRANSPORTATION PROJE CTS FOR RECEIPT OF F EDERAL AND STATE FUNDS; 25
(6) RECOMMENDING TO THE DEPARTMENT USE OR CHA NGES IN USE 26
OF TOLLS OR CHARGES FOR FACILITIES IN TH E CAPITAL REGION ; 27
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATI ON ISSUES OF 28
A MULTIJURISDICTIONA L NATURE, INCLUDING INTELLIGEN T TRANSPORTATION 29
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR AND RESPONSE TO 30
EMERGENCIES ; 31 HOUSE BILL 1370 21
(8) SERVING AS AN ADVOCAT E FOR THE TRANSPORTA TION NEEDS OF 1
THE CAPITAL REGION B EFORE THE STATE AND FEDERAL GOV ERNMENTS; AND 2
(9) APPLYING TO AND NEGOT IATING WITH THE FEDE RAL 3
GOVERNMENT AND THE STATE FOR GRANTS AND ANY OTHER FUNDS AVAI LABLE TO 4
CARRY OUT THE PURPOS ES OF THIS SUBTITLE . 5
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT, 6
METROPOLITAN PLANNING ORGANIZATIONS , AND OTHER STAKEHOLDE RS IN 7
RECOMMENDING OR PRIO RITIZING ANY TRANSPO RTATION PROJECT . 8
10.5–209. 9
(A) IN THIS SECTION , “FUND” MEANS THE CAPITAL REGION 10
TRANSPORTATION FUND. 11
(B) THERE IS A CAPITAL REGION TRANSPORTATION FUND. 12
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 13
FACILITIES IN THE CA PITAL REGION. 14
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 15
THE FUND. 16
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 17
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 18
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 19
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 20
(F) THE FUND CONSISTS OF : 21
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 22
(2) INTEREST EARNINGS ; 23
(3) REVENUE DISTRIBUTED T O THE FUND UNDER § 2–1303 OF THE 24
TAX – GENERAL ARTICLE; 25
(4) REVENUE DISTRIBUTED T O THE FUND UNDER § 13–209 OF THE 26
TAX – PROPERTY ARTICLE; AND 27
22 HOUSE BILL 1370
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 1
THE BENEFIT OF THE FUND. 2
(G) THE FUND MAY BE USED ONLY FOR THE FINANCING OF 3
TRANSPORTATION FACIL ITIES IN THE CAPITAL REGION. 4
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 5
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 6
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO 7
THE FUND. 8
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 9
WITH THE STATE BUDGET . 10
(J) MONEY EXPENDED FROM T HE FUND FOR FINANCING TR ANSPORTATION 11
FACILITIES IN THE CA PITAL REGION IS SUPPLEMENTAL TO AND IS NOT INTENDED 12
TO TAKE THE PLACE OF FUNDING THAT OTHERWI SE WOULD BE APPROPRI ATED FOR 13
TRANSPORTATION FACIL ITIES IN THE CAPITAL REGION. 14
10.5–210. 15
ON OR BEFORE JANUARY 1, 2026, AND EACH JANUARY 1 THEREAFTER , THE 16
AUTHORITY SHALL REPOR T TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 17
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES OF THE 18
AUTHORITY DURING THE PRIOR YEAR. 19
SUBTITLE 3. SOUTHERN MARYLAND REGION TRANSPORTATION AUTHORITY. 20
10.5–301. 21
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANI NGS 22
INDICATED. 23
(B) “AUTHORITY” MEANS THE SOUTHERN MARYLAND REGION 24
TRANSPORTATION AUTHORITY. 25
(C) “SOUTHERN MARYLAND REGION ” MEANS CALVERT COUNTY, CHARLES 26
COUNTY, AND ST. MARY’S COUNTY. 27
(D) “TRANSPORTATION FACILI TY” HAS THE MEANING STATED IN § 3–101 OF 28
THIS ARTICLE. 29
HOUSE BILL 1370 23
10.5–302. 1
(A) THERE IS A SOUTHERN MARYLAND REGION TRANSPORTATION 2
AUTHORITY. 3
(B) THE AUTHORITY IS A BODY P OLITIC AND CORPORATE AND IS AN 4
INSTRUMENTALITY OF T HE STATE. 5
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 6
IS THE PERFORMANCE O F AN ESSENTIAL GOVER NMENTAL FUNCTION . 7
10.5–303. 8
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 9
INVESTMENTS IN TRANS PORTATION PROJECTS T HAT MAXIMIZE THE MOV EMENT OF 10
PEOPLE AND PROMOTE E FFICIENCY, SAFETY, AND OTHER VALUES SUCH AS 11
ENVIRONMENTAL AND SO CIAL JUSTICE IMPACTS . 12
10.5–304. 13
(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBER S: 14
(1) ONE MEMBER APPOINTED BY THE GOVERNING BOD Y OF CALVERT 15
COUNTY; 16
(2) ONE MEMBER APPOINTED BY THE GOVERNING BOD Y OF CHARLES 17
COUNTY; 18
(3) ONE MEMBER APPOINTED BY THE GOVERNING BOD Y OF ST. 19
MARY’S COUNTY; 20
(4) ONE ELECTED OFFICIAL FROM EACH MUNICIPALI TY WITHIN THE 21
SOUTHERN MARYLAND REGION , APPOINTED BY THE GOV ERNING BODY OF THE 22
MUNICIPALITY; 23
(5) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 24
WITHIN THE SOUTHERN MARYLAND REGION , APPOINTED BY THE PRESIDENT OF 25
THE SENATE; 26
(6) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 27
WITHIN THE SOUTHERN MARYLAND REGION , APPOINTED BY THE SPEAKER OF THE 28
HOUSE; AND 29
24 HOUSE BILL 1370
(7) TWO M EMBERS WITH EXPERIEN CE IN TRANSPORTATION 1
PLANNING, FINANCE, ENGINEERING , CONSTRUCTION , OR MANAGEMENT , 2
APPOINTED BY THE GOVERNOR. 3
(B) THE SECRETARY SHALL SERVE AS A NONVOTING , EX OFFICIO MEMBER . 4
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 5
(2) AT THE END OF A TERM, A MEMBER CONTINUES T O SERVE UNTIL 6
A SUCCESSOR IS APPOI NTED AND QUALIFIES . 7
(D) FROM AMONG ITS MEMBER S, THE AUTHORITY SHALL ELECT A CHAIR 8
AND A VICE CHAIR. 9
(E) THE AUTHORITY SHALL ADOPT RULES AND REGULATION S NECESSARY 10
FOR THE CONDUCT OF I TS AFFAIRS. 11
10.5–305. 12
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 13
SERVE AS THE CHIEF E XECUTIVE OFFICER OF THE AUTHORITY. 14
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 15
THE AUTHORITY. 16
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS, STAFF, AND 17
AGENTS, INCLUDING ENGINEERIN G, ARCHITECTURAL , FISCAL, AND CONSTRUCTION 18
EXPERTS AND ATTORNEY S, AND SET THEIR COMPEN SATION. 19
10.5–306. 20
(A) THE AUTHORITY MAY : 21
(1) ADOPT BYLAWS FOR THE CONDUCT OF ITS BUSIN ESS; 22
(2) ADOPT A SEAL; 23
(3) MAINTAIN OFFICES AT A PLACE IT DESIGNATES IN THE STATE; 24
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 25
FEDERAL OR STATE GOVERNMENT , A LOCAL GOVERNMENT , A COLLEGE OR 26
UNIVERSITY, OR A PRIVATE SOURCE ; 27
HOUSE BILL 1370 25
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INSTRUMENTS ; 1
(6) SUE OR BE SUED; 2
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE , AND USE: 3
(I) A FRANCHISE, PATENT, OR LICENSE; 4
(II) STOCK OR OTHER FORMS OF OWNERSHIP INTERES TS IN 5
CORPORATIONS , LIMITED LIABILITY CO MPANIES, PARTNERSHIPS , OR OTHER 6
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PR OFIT; 7
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 8
PROPERTY; OR 9
(IV) AN INTEREST IN A PROP ERTY LISTED UNDER ITEMS (I) 10
THROUGH (III) OF THIS ITEM; 11
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 12
DISPOSE OF PROPERTY OR A PROPERTY INTERE ST THAT IT ACQUIRES ; 13
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 14
CHARGES FOR SERVICES AND RESOURCES IT PRO VIDES OR MAKES AVAIL ABLE; 15
(10) CREATE, OWN, CONTROL, OR BE A MEMBER OF A CORPORAT ION, 16
LIMITED LIABILITY CO MPANY, PARTNERSHIP , OR OTHER ENTITY , WHETHER 17
OPERATED FOR PROFIT OR NOT FOR PROFIT ; 18
(11) EXERCISE POWER USUALL Y POSSESSED BY A PRI VATE 19
CORPORATION IN PERFO RMING SIMILAR FUNCTI ONS UNLESS TO DO SO WOULD 20
CONFLICT WITH STATE LAW; AND 21
(12) DO ALL THINGS NECESSA RY OR CONVENIENT TO CARRY OUT THE 22
POWERS GRANTED BY TH IS SUBTITLE. 23
(B) THE AUTHORITY MAY DELEGAT E ANY POWER OR DUTY IT CONSIDERS 24
APPROPRIATE TO A MEM BER, AN OFFICER, AN AGENT, OR AN EMPLOYEE OF TH E 25
AUTHORITY. 26
10.5–307. 27
26 HOUSE BILL 1370
(A) (1) THE AUTHORITY SHALL PREPA RE A REGIONAL TRANSPORTATION 1
PLAN FOR THE SOUTHERN MARYLAND REGION THAT INCLUDES TRANSPORTAT ION 2
IMPROVEMENTS OF REGI ONAL SIGNIFICANCE . 3
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPORTATION 4
PLAN. 5
(B) AFTER THE ADOPTION OF A REGIONAL TRANSPORTATION PLAN, THE 6
AUTHORITY MAY CONSTRU CT OR ACQUIRE , BY PURCHASE , LEASE, CONTRACT, OR 7
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGIONAL 8
TRANSPORTATION PLAN. 9
10.5–308. 10
(A) THE AUTHORITY SHALL HAVE THE FOLLOWING D UTIES AND 11
RESPONSIBILITIES : 12
(1) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION 13
PROGRAMS; 14
(2) LONG–RANGE REGIONAL PLANN ING FOR THE SOUTHERN 15
MARYLAND REGION , BOTH FISCALLY CONSTR AINED AND UNCONSTRAI NED; 16
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 17
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC –PRIVATE 18
TRANSPORTATION PROJE CTS, AND FUNDING ALLOCATI ONS; 19
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 20
PROJECTS ANY FUNDS M ADE AVAILABLE TO THE AUTHORITY AND , AT THE 21
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS ; 22
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 23
TRANSPORTATION PROJE CTS FOR RECEIPT OF F EDERAL AND STATE FUNDS; 24
(6) RECOMMENDING TO THE DEPARTMENT USE OR CHA NGES IN USE 25
OF TOLLS OR CHARGES FOR FACILITI ES IN THE SOUTHERN MARYLAND REGION ; 26
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTAT ION ISSUES OF 27
A MULTIJURISDICTIONA L NATURE, INCLUDING INTELLIGEN T TRANSPORTATION 28
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR AND RESPONSE TO 29
EMERGENCIE S; 30
HOUSE BILL 1370 27
(8) SERVING AS AN ADVOCAT E FOR THE TRANSPORTA TION NEEDS OF 1
THE SOUTHERN MARYLAND REGION BEFOR E THE STATE AND FEDERAL 2
GOVERNMENTS ; AND 3
(9) APPLYING TO AND NEGOT IATING WITH THE FEDE RAL 4
GOVERNMENT AND THE STATE FOR GRANTS AND ANY OTHER FUNDS AVAI LABLE TO 5
CARRY OUT THE PURPOS ES OF THIS SUBTITLE . 6
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT , 7
METROPOLITAN PLANNING ORGANIZATIONS , AND OTHER STAKEHOLDE RS IN 8
RECOMMENDING OR PRIO RITIZING ANY TRANSPO RTATION PROJECT . 9
10.5–309. 10
(A) IN THIS SECTION, “FUND” MEANS THE SOUTHERN MARYLAND REGION 11
TRANSPORTATION FUND. 12
(B) THERE IS A SOUTHERN MARYLAND REGION TRANSPORTATION FUND. 13
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 14
FACILITIES IN THE SOUTHERN MARYLAND REGION . 15
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 16
THE FUND. 17
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 18
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 19
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 20
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 21
(F) THE FUND CONSISTS OF : 22
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 23
(2) INTEREST EARNINGS ; 24
(3) REVENUE DISTRIBUTED T O THE FUND UNDER § 2–1303 OF THE 25
TAX – GENERAL ARTICLE; 26
(4) REVENUE DISTRIBUTED T O THE FUND UNDER § 13–209 OF THE 27
TAX – PROPERTY ARTICLE; AND 28
28 HOUSE BILL 1370
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 1
THE BENEFIT OF THE FUND. 2
(G) THE FUND MAY BE USED ONLY FOR THE FINANCING OF 3
TRANSPORTATION FACIL ITIES IN THE SOUTHERN MARYLAND REGION . 4
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 5
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 6
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO 7
THE FUND. 8
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDA NCE 9
WITH THE STATE BUDGET . 10
(J) MONEY EXPENDED FROM T HE FUND FOR FINANCING TR ANSPORTATION 11
FACILITIES IN THE SOUTHERN MARYLAND REGION IS SU PPLEMENTAL TO AND IS 12
NOT INTENDED TO TAKE THE PLACE OF FUNDING THAT OTHERWISE WOULD BE 13
APPROPRIAT ED FOR TRANSPORTATIO N FACILITIES IN THE SOUTHERN MARYLAND 14
REGION. 15
10.5–310. 16
ON OR BEFORE JANUARY 1, 2026, AND EACH JANUARY 1 THEREAFTER , THE 17
AUTHORITY SHALL REPOR T TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 18
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES OF TH E 19
AUTHORITY DURING THE PRIOR YEAR. 20
SUBTITLE 4. FINANCING OF TRANSPORTATION PROJECTS. 21
10.5–401. 22
IN THIS SUBTITLE, “AUTHORITY” MEANS: 23
(1) THE BALTIMORE REGION TRANSPORTATION AUTHORITY 24
ESTABLISHED UNDER § 10.5–102 OF THIS TITLE; 25
(2) THE CAPITAL REGION TRANSPORTATION AUTHORITY 26
ESTABLISHED UNDER § 10.5–202 OF THIS TITLE; AND 27
(3) THE SOUTHERN MARYLAND REGION TRANSPORTATION 28
AUTHORITY ESTABLISHED UNDER § 10.5–302 OF THIS TITLE. 29
HOUSE BILL 1370 29
10.5–402. 1
(A) TO FINANCE THE COST O F TRANSPORTATION FACILITIES AND 2
PROJECTS, AN AUTHORITY MAY ISSUE BONDS , NOTES, OR OTHER EVIDENCE OF 3
OBLIGATION, PAYABLE SOLELY FROM THE REVENUES DISTRIBUTED TO THE 4
AUTHORITY. 5
(B) BOND PROCEEDS MAY BE USED SOLELY FOR PAYI NG THE COST OF 6
TRANSPORTATION FACILITIES AND PROJECTS . 7
10.5–403. 8
(A) BONDS ISSUED BY AN AUTHORITY UNDER THIS SUBTITLE MAY NOT: 9
(1) CONSTITUTE A DEBT OF THE STATE OR A POLITICAL SUBDIVISION 10
OF THE STATE OTHER THAN THE AUTHORITY, AND SHALL SO STATE O N THEIR FACE; 11
(2) CONSTITUTE A PLEDGE O F THE FULL FAITH AND CREDIT OF THE 12
STATE OR A POLITICAL SUBDIVISION OF THE STATE; OR 13
(3) DIRECTLY OR INDIRECTL Y OBLIGATE THE STATE OR A POLITICAL 14
SUBDIVISION OF THE STATE TO IMPOSE ANY T AX, AND SHALL CONTAIN A 15
STATEMENT ON THEIR F ACE TO THAT EFFECT . 16
(B) AN AUTHORITY SHALL DETERMINE THE FOLLOWING CONCERNING 17
BONDS ISSUED BY THE AUTHORITY: 18
(1) DATE OF ISSUE; 19
(2) INTEREST RATE ; 20
(3) DATE AND AMOUNT OF MA TURITY, EXCEPT THAT A BOND M AY NOT 21
MATURE MORE THAN 40 YEARS AFTER ITS DATE OF ISSUE; 22
(4) FORM AND MANNER OF EX ECUTION; 23
(5) MANNER OF SALE ; AND 24
(6) ANY OTHER MATTER RELA TING TO THE FORM , TERMS, 25
CONDITIONS, ISSUANCE, SALE, AND DELIVERY OF THE BONDS. 26
(C) AN AUTHORITY MAY ISSUE BONDS : 27
30 HOUSE BILL 1370
(1) WITHOUT OBTAINING THE CONSENT OF ANY INSTRUMENTALITY , 1
AGENCY, OR UNIT OF THE STATE; AND 2
(2) WITHOUT ANY PROCEEDIN GS OR THE OCCURRENCE OF ANY 3
CONDITIONS OR OBLIGA TIONS OTHER THAN THO SE SPECIFICALLY REQU IRED BY 4
THIS SUBTITLE. 5
(D) (1) BONDS SHALL BE EXECUT ED ON BEHALF OF A N AUTHORITY BY 6
THE MANUAL OR FACSIMILE SIGNATURES OF THE IN DIVIDUALS DESIGNATED BY THE 7
GOVERNING BODY OF TH E AUTHORITY. 8
(2) OTHER SIGNATURES ON T HE BONDS MAY BE EITH ER MANUAL OR 9
FACSIMILE. 10
(E) IF AN INDIVIDUAL WHOS E MANUAL OR FACSIMIL E SIGNATURE APPEARS 11
ON ANY BOND OR COUPON CEASES TO SER VE IN AN AUTHORIZED CAPACITY BEFORE 12
THE DELIVERY OF THE BOND, THE SIGNATURE NEVERT HELESS IS AS VALID A ND 13
SUFFICIENT FOR ALL P URPOSES AS IF THE IN DIVIDUAL HAD REMAINE D IN THAT 14
CAPACITY UNTIL DELIV ERY OF THE BOND . 15
10.5–404. 16
(A) WITHOUT THE APPROVAL OF THE GENERAL ASSEMBLY, AN AUTHORITY 17
MAY ISSUE BONDS TO R EFINANCE ALL OR ANY PART OF THE COST OF 18
TRANSPORTATION FACILITIES OR PROJECTS FOR WHICH THE AUTHORITY 19
PREVIOUSLY ISSUED BO NDS UNDER THIS SUBTI TLE. 20
(B) IF, BY REASON OF INCREAS ED CONSTRUCTION COSTS , ERROR IN 21
ESTIMATES, OR OTHERWISE , THE PROCEEDS OF THE BONDS OF ANY ISSUE A RE LESS 22
THAN THE AMOUNT REQU IRED FOR THE PURPOSE FOR WHICH THE BONDS ARE 23
AUTHORIZED , ADDITIONAL BONDS MAY BE ISSUED IN A SIMIL AR MANNER TO 24
PROVIDE THE AMOUNT O F THE DEFICIENCY. 25
10.5–405. 26
(A) IN THIS SECTION , “REFUNDING” MEANS THE RETIREMENT AND 27
CANCELLATION OF BOND S, INCLUDING BONDS OF P RIOR ISSUES, AFTER THEIR 28
ACQUISITION BY OR FO R AN AUTHORITY, WHETHER BEFORE , AT, OR AFTER 29
MATURITY, EITHER IN EXCHANGE F OR OTHER BONDS OR BY PAYMEN T, PURCHASE, 30
OR REDEMPTION WITH T HE PROCEEDS OF THE S ALE OF OTHER BONDS . 31
(B) AN AUTHORITY MAY ISSUE REFUNDING BONDS FOR: 32
HOUSE BILL 1370 31
(1) REFUNDING ANY BONDS I SSUED UNDER THIS SUB TITLE OR ANY 1
BONDS OF PRIOR ISSUE S, INCLUDING THE PAYMEN T OF ANY REDEMPTION PREMIUM 2
ON THE BONDS AND ANY INTEREST ACCRUED OR TO ACCRUE TO THE DAT E OF 3
REDEMPTION OF THE BO NDS; AND 4
(2) CONSTRUCTING IMPROVEM ENTS OR EXTENSIONS T O OR 5
ENLARGEMENTS OF ANY TRANSPORTATION FACILITY OR PROJECT. 6
10.5–406. 7
BEFORE THE PREPARATION OF DEFIN ITIVE BONDS, AN AUTHORITY MAY 8
ISSUE INTERIM CERTIF ICATES OR TEMPORARY BONDS, WITH OR WITHOUT 9
COUPONS, EXCHANGEABLE FOR DEF INITIVE BONDS WHEN T HE DEFINITIVE BONDS 10
HAVE BEEN EXECUTED A ND ARE AVAILABLE FOR DELIVERY. 11
10.5–407. 12
(A) AN AUTHORITY MAY ISSUE BOND ANTIC IPATION NOTES PAYABL E TO 13
THE BEARER OR REGIST ERED HOLDER OF THE N OTES OUT OF THE FIRS T PROCEEDS 14
OF THE NEXT SALE OF BONDS ISSUED UNDER T HIS SUBTITLE. 15
(B) THE ISSUANCE OF BOND ANTICIPATION NOTES , THE DETAILS OF THEIR 16
ISSUANCE, THE RIGHTS OF THEIR H OLDERS, AND THE RIGHTS , DUTIES, AND 17
OBLIGATIONS OF THE AUTHORITY WITH RESPECT TO THE BOND ANTICIPATION 18
NOTES ARE GOVERNED B Y THE PROVISIONS OF THIS SUBTITLE RELATI NG TO THE 19
ISSUANCE OF THE BOND S IN ANTICIPATION OF THE SALE AT WHICH TH E NOTES ARE 20
ISSUED, INSOFAR AS THOSE PRO VISIONS ARE APPLICAB LE. 21
10.5–408. 22
(A) BONDS ISSUED UNDER TH IS SUBTITLE MAY BE S ECURED BY A TRUST 23
AGREEMENT BETWEEN A N AUTHORITY AND A CORPORATE TRUS TEE, WHICH MAY BE 24
ANY TRUST COMPANY OR BANK HAVING TRUST PO WERS WITHIN OR OUTSIDE THE 25
STATE. 26
(B) THE TRUST AGREEMENT M AY PLEDGE OR ASSIGN ALL OR ANY PART OF 27
THE REVENUES OF A N AUTHORITY OR OF ANY TRANSPORTATION FACILITY OR 28
PROJECT. 29
10.5–409. 30
THE REVENUE DESIGNATED AS SECURI TY FOR BONDS ISSUED UNDER THIS 31
SUBTITLE SHALL BE FI XED AND ADJUSTED SO AS TO PROVIDE FUNDS THAT ARE 32
SUFFICIENT AS LONG A S THE BONDS ARE OUTS TANDING AND UNPAID T O PAY THE 33 32 HOUSE BILL 1370
PRINCIPAL OF AND THE INTEREST ON THE BOND S AS THEY BECOME DUE AND 1
PAYABLE. 2
10.5–410. 3
ALL MONEY THAT IS REC EIVED BY AN AUTHORITY AS PROCEEDS FROM THE 4
SALE OF BONDS , NOTES, OR OTHER EVIDENCES O F OBLIGATION UNDER T HIS 5
SUBTITLE AND , BY WAY OF RENTALS , RATES, FEES, FARES, AND TAXES, THAT IS 6
DESIGNATED BY ANY TR UST AGREEME NT AS SECURITY FOR T HE BONDS, NOTES, OR 7
OTHER EVIDENCES OF O BLIGATION SHALL BE D EEMED TO BE TRUST FU NDS TO BE 8
HELD AND APPLIED ONL Y AS PROVIDED IN THI S SUBTITLE. 9
10.5–411. 10
EXCEPT TO THE EXTENT RESTRICTED BY THE TR UST AGREEMENT , THE 11
TRUSTEE OR ANY HOLDE R OF BONDS ISSUED UNDE R THIS SUBTITLE OR O F ANY OF 12
THE COUPONS APPERTAI NING TO THE BONDS MA Y: 13
(1) BRING A SUIT OR ANY O THER PROCEEDING TO P ROTECT AND 14
ENFORCE ANY RIGHT UN DER THE LAWS OF THE STATE OR UNDER THE TR UST 15
AGREEMENT ; AND 16
(2) ENFORCE AND COMPE L THE PERFORMANCE OF ALL DUTIES 17
REQUIRED BY THIS SUB TITLE OR BY THE TRUS T AGREEMENT TO BE PE RFORMED BY 18
AN AUTHORITY OR BY ANY OF ITS OFF ICERS. 19
10.5–412. 20
BONDS ISSUED UNDER TH IS SUBTITLE ARE SECU RITIES: 21
(1) IN WHICH ALL PUBLIC O FFICERS AND PUBLIC B ODIES OF THE 22
STATE AND ITS POLITIC AL SUBDIVISIONS , ALL INSURANCE COMPAN IES, STATE 23
BANKS AND TRUST COMP ANIES, NATIONAL BANKING ASS OCIATIONS, SAVINGS 24
BANKS, SAVINGS AND LOAN ASS OCIATIONS, INVESTMENT COMPANIES , EXECUTORS, 25
ADMINISTRATORS , TRUSTEES, AND OTHER FIDU CIARIES MAY PROPERLY AND 26
LEGALLY INVEST FUNDS , INCLUDING CAPITAL IN THEIR CONTROL OR BEL ONGING 27
TO THEM; AND 28
(2) THAT MAY BE PROPERLY AND LEGALLY DEPOSITE D WITH AND 29
RECEIVED BY ANY STATE OR COUNTY OFFIC ER OR ANY AGENCY OR POLITICAL 30
SUBDIVISION OF THE STATE FOR ANY PURPOSE F OR WHICH THE DEPOSIT OF BONDS 31
OR OBLIGATIONS OF TH E STATE IS AUTHORIZED B Y LAW. 32
10.5–413. 33 HOUSE BILL 1370 33
THE BONDS, NOTES, AND OTHER EVIDENCES OF OBLIGATION ISSUED UNDER 1
THIS SUBTITLE, THEIR TRANSFER , THE INTEREST PAYABLE ON THEM, AND ANY 2
INCOME DERIVED FROM THEM , INCLUDING ANY PROFIT REALIZED IN THEIR SA LE 3
OR EXCHANGE , SHALL BE EXEMPT FROM TAXATION BY THE STATE OR BY ANY OF IT S 4
POLITICAL SUBDIVISIO NS, MUNICIPAL CORPORATIO NS, OR PUBLIC AGENCIES . 5
SECTION 4. AND BE IT FURTHER ENACTED, That Section 2 of this Act shall be 6
applicable to all instruments of writing recorded or filed on or after October 1, 2025. 7
SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take effect 8
October 1, 2025. 9