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EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
*sb0674*
SENATE BILL 674
R2, Q4, Q6 6lr3383
SB 881/25 – B&T & FIN CF HB 916
By: Senator A. Washington
Introduced and read first time: February 6, 2026
Assigned to: Budget and Taxation and Finance
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 tr ansportation 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) and (ii) 13
Annotated Code of Maryland 14
(2021 Replacement Volume and 2025 Supplement) 15
BY repealing and reenacting, with amendments, 16
Article – State Finance and Procurement 17
Section 6–226(a)(2)(iii)212. and 213. 18
Annotated Code of Maryland 19
(2021 Replacement Volume and 2025 Supplement) 20
BY adding to 21
Article – State Finance and Procurement 22
Section 6–226(a)(2)(iii)214., 215., and 216. 23
Annotated Code of Maryland 24
(2021 Replacement Volume and 2025 Supplement) 25
BY repealing and reenacting, without amendments, 26
Article – Tax – General 27
2 SENATE BILL 674
Section 1–101(a) 1
Annotated Code of Maryland 2
(2022 Replacement Volume and 2025 Supplement) 3
BY adding to 4
Article – Tax – General 5
Section 1–101(c–1), (d–1), and (t–1) and 11–104(m) 6
Annotated Code of Maryland 7
(2022 Replacement Volume and 2025 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 2025 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 2025 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 2025 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 2025 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 2025 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
SENATE BILL 674 3
(a) (2) (i) This paragraph does not apply in fiscal years 2024 through 2028. 1
(ii) Notwithstanding any other provision of law, and unless 2
inconsistent with a federal law, grant agreement, or other federal requirement or with the 3
terms of a gift or settlement agreement, net interest on all State money allocated by the 4
State Treasurer under this section to special funds or accounts, and otherwise entitled to 5
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 6
Fund of the State. 7
(iii) The provisions of subparagraph (i) of this paragraph do not apply 8
to the following funds: 9
212. the Department of Social and Economic Mobility Special 10
Fund; [and] 11
213. the Population Health Improvement Fund; 12
214. THE BALTIMORE REGION TRANSPORTATION FUND; 13
215. THE CAPITAL REGION TRANSPORTATION FUND; AND 14
216. THE SOUTHERN MARYLAND REGION 15
TRANSPORTATION 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 STATED 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 2–1302.5 of 27
this subtitle, the Comptroller shall pay: 28
4 SENATE BILL 674
(1) revenues from the hotel surcharge into the Dorchester County 1
Economic Development Fund established under § 10 –130 of the Ec onomic Development 2
Article; 3
(2) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 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 U SES, IN THE 6
BALTIMORE REGION , OF TANGIBLE PE RSONAL 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 DISTRI BUTED IN PROPORTION TO THE RETAIL SALES IN THE 12
COUNTIES AND MUNICIPALITIES OR USES, IN THE COUNTIES OR MUNICIPALITIES, OF 13
TANGIBLE PERSONAL PR OPERTY, A DIGITAL CODE , A DIGITAL PRODUCT , OR A 14
TAXABLE SERVICE; 15
(3) FROM THE REVENUES FR OM THE TRANSPORTATION A UTHORITY 16
HOTEL SURCHARGE ESTA BLISHED UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 17
ARE ATTRIBUTABLE TO THE TRANSPORTATION AUTHORITY HOTEL SURCHARGE 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 WITHIN THE 22
BALTIMORE REGION DIST RIBUTED IN PROPORTIO N TO THE TRANSPORTAT ION 23
AUTHORITY HOTEL SURCHARGE FROM THE COUNTIES AND MUNICIPALITIES; 24
(4) FROM THE REVENUES FROM THE TRANSPORTATION AUTHORITY 25
SURCHARGE ESTABLISHE D UNDER § 11–102(C)(1) OF THIS ARTICLE THAT ARE 26
ATTRIBUTABLE TO RETAIL SALES IN THE CAPITAL REGION OR USES, IN THE CAPITAL 27
REGION, OF TANGIBLE PERSONAL PROPERTY, A DIGITAL CODE, A DIGITAL PRODUCT, 28
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 WITHIN THE 32
CAPITAL REGION DISTR IBUTED IN PROPORTION TO THE RET AIL SALES IN THE 33
COUNTIES AND MUNICIPALITIES OR USES, IN THE COUNTIES OR MUNICIPALITIES, OF 34
SENATE BILL 674 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 ESTA BLISHED UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 4
ARE ATTRIBUTABLE TO THE TRANSPORTATION AUTHORITY HOTEL SURCHARGE 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 WITHIN THE 9
CAPITAL REGION DISTR IBUTED IN PROPORTION TO THE TRANSPORTATIO N 10
AUTHORITY HOTEL SURCHARGE FROM THE COUNTIES AND MUNICIPALITIES; 11
(6) FROM THE REVENUES FR OM THE TRANSPORTATIO N AUTHORITY 12
SURCHARGE E STABLISHED UNDER § 11–102(C)(1) OF THIS ARTICLE THAT ARE 13
ATTRIBUTABLE TO RETAIL SALES IN THE SOUTHERN MARYLAND REGION OR USES, 14
IN THE SOUTHERN MARYLAND REGION , OF TANGIBLE PERSONAL PROPERTY, A 15
DIGITAL CODE, A DIGITAL PRODUCT, OR A TAXABLE SERVICE: 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 WITHIN THE 20
SOUTHERN MARYLAND REGION DISTR IBUTED IN PROPORTION TO THE RETAIL 21
SALES IN THE COUNTIES AND MUNICIP ALITIES 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 ESTA BLISHED UNDER § 11–102(C)(2) OF THIS ARTICLE THAT 26
ARE ATTRIBUTABLE TO THE TRANSPORTATION AUTHORITY HOTEL SURCHARGE 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 WITHIN THE 32
SOUTHERN MARYLAND REGION DISTR IBUTED IN PROPORTION TO THE 33
6 SENATE BILL 674
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 P AYMENT UNDER 13
SUBSECTION (A)(2) THROUGH (7) OF THIS SECTION MAY USE THE REVENUE ONLY 14
FOR TRANSPORTATION PURPOSES. 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 cer tifies 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
SENATE BILL 674 7
(c) (1) IN ADDITION TO THE TAX IMPOSED UNDER SUBSEC TION (A) OF 1
THIS SECTION , A TRANSPORTATION AUT HORITY SURCHARGE IS IMPOSED 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 AUTHORITY HOTEL SURCHARGE IS IMPOSED ON 9
THE SALE OF A RIGHT TO OCCUPY A ROOM OR LODGINGS AS A TRANSIENT 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
(M) (1) THE RATE OF THE TRANSPORTATION AUTHO RITY 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 UNDER § 11–102(C)(2) OF THIS SUBTITLE IS 1%. 30
8 SENATE BILL 674
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 STATED 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 UNDER SUBSECTION (A) 19
OF THIS SECTION , A TRANSPORTATION AUTHORITY TRANSFER TAX SURCHARGE IS 20
IMPOSED ON AN INSTRU MENT OF WRITING THAT TRANSFERS PROPERTY A ND IS 21
RECORDED WITH THE CL ERK OF THE CIRCUIT C OURT FOR A COUNTY THAT IS 22
LOCATED WITHIN THE BALTIMORE REGION , THE CAPITAL REGION , AND THE 23
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
SENATE BILL 674 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 s ale 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 TRANS PORTATION AUTHORITY TRANSFER TAX 6
SURCHARGE IMPOSED UN DER § 13–202 OF THIS SUBTITLE IS 0.15% OF THE 7
CONSIDERATION PAYABL E FOR THE INSTRUMENT OF WRITING TRANSFERR ING 8
PROPERTY. 9
13–209. 10
(J) (1) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 11
TRANSFER TAX SURCHARGE ON AN INSTRUMENT OF WRITING RECORDED WITH THE 12
CLERK OF THE CIRCUIT COURT FOR A CO UNTY THAT IS LOCATED WITHIN THE 13
BALTIMORE REGION SHALL 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 ITEM 2 OF THIS ITEM, 17
30% TO THE COUNTY WHERE THE PROPERTY IS LOCATED; OR 18
2. IF THE TRANSFERRED P ROPERTY IS LOCATED I N A 19
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY IS LOCATED. 20
(2) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 21
TRANSFER TAX SURCHARGE ON AN INSTRUMENT OF WRITING RECORDED WITH THE 22
CLERK OF THE CIRCUIT COURT FOR A COUNTY T HAT IS LOCATED WITHI N THE 23
CAPITAL REGION SHALL BE DISTRIBUTED AS FOLLOWS: 24
(I) 70% TO THE CAPITAL REGION TRANSPORTATION FUND 25
ESTABLISHED UNDER § 10.5–209 OF THE TRANSPORTATION ARTICLE; AND 26
(II) 1. EXCEPT AS PROVIDED U NDER ITEM 2 OF THIS ITEM , 27
30% TO THE COUNTY WHERE THE PROPERTY IS LOCATED; OR 28
2. IF THE TRANSFERRED P ROPERTY IS LOCATED I N A 29
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY IS LOCATED. 30
(3) THE REVENUE FROM THE TRANSPORTATION AUTHO RITY 31
TRANSFER TAX SURCHARGE ON AN INSTRUMENT OF WRITING RECORDED WITH THE 32
10 SENATE BILL 674
CLERK OF THE CIRCUIT COURT FOR A COUNTY T HAT IS LOCATED WITHI N THE 1
SOUTHERN MARYLAND REGION SHALL BE DISTRIBUTED AS FOLLOWS: 2
(I) 70% TO THE SOUTHERN MARYLAND REGION 3
TRANSPORTATION FUND ESTABLISHED UNDE R § 10.5–309 OF THE 4
TRANSPORTATION ARTICLE; AND 5
(II) 1. EXCEPT AS PROVIDED U NDER ITEM 2 OF THIS ITEM , 6
30% TO THE COUNTY WHERE THE PROPERTY IS LOCATED; OR 7
2. IF THE TRANSFERRED P ROPERTY IS LOCATED IN A 8
MUNICIPALITY, 30% TO THE MUNICIPALITY WHERE THE PROPERTY IS LOCATED. 9
(4) A COUNTY OR MUNICIPALI TY THAT RECEIVES A D ISTRIBUTION 10
UNDER THIS SUBSECTIO N MAY USE THE REVENU E ONLY FOR TRANSPORT ATION 11
PURPOSES. 12
SECTION 3. AND BE IT FURTH ER ENACTED, That the Laws of Maryland read 13
as follows: 14
Article – Transportation 15
TITLE 10.5. REGIONAL TRANSPORTATION AUTHORITIES. 16
SUBTITLE 1. BALTIMORE REGION TRANSPORTATION AUTHORITY. 17
10.5–101. 18
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 19
INDICATED. 20
(B) “AUTHORITY” MEANS THE BALTIMORE REGION TRANSPORTATION 21
AUTHORITY. 22
(C) “BALTIMORE REGION” MEANS ANNE ARUNDEL COUNTY, BALTIMORE 23
COUNTY, BALTIMORE CITY, AND HOWARD COUNTY. 24
(D) “TRANSPORTATION FACILITY” HAS THE MEANING STATED IN § 3–101 OF 25
THIS ARTICLE. 26
10.5–102. 27
(A) THERE IS A BALTIMORE REGION TRANSPORTATION AUTHORITY. 28
SENATE BILL 674 11
(B) THE AUTHORITY IS A BODY P OLITIC AND CORPORATE AND IS AN 1
INSTRUMENTALITY OF THE STATE. 2
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 3
IS THE PERFORMANCE OF AN ESSENTIAL GOVERNMENTAL FUNCTION. 4
10.5–103. 5
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 6
INVESTMENTS IN TRANSPORTATION PROJECTS THAT MAXIMIZE THE MOVEMENT OF 7
PEOPLE AND PROMOTE E FFICIENCY, SAFETY, AND OTHER VALUES SUC H A S 8
ENVIRONMENTAL AND SOCIAL JUSTICE IMPACTS. 9
10.5–104. 10
(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBERS: 11
(1) THE MAYOR OF BALTIMORE CITY, OR THE MAYOR’S DESIGNEE; 12
(2) THE COUNTY EXECUTIVE OF ANNE ARUNDEL COUNTY, OR THE 13
COUNTY EXECUTIVE’S DESIGNEE; 14
(3) THE COUNTY EXECUTIVE OF BALTIMORE COUNTY, OR THE 15
COUNTY EXECUTIVE’S DESIGNEE; 16
(4) THE COUNTY EXECUTIVE OF HOWARD COUNTY, OR THE COUNTY 17
EXECUTIVE’S DESIGNEE; 18
(5) ONE ELECTED OFFICIAL FROM EACH MUNICIPALITY WITHIN THE 19
BALTIMORE REGION, APPOINTED BY THE GOVERNING BODY OF THE MUNICIPALITY; 20
(6) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 21
WITHIN THE BALTIMORE REGION, APPOINTED BY THE PRESIDENT OF THE SENATE; 22
(7) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 23
WITHIN THE BALTIMORE REGION , APPOINTED BY THE SPEAKER OF THE HOUSE; 24
AND 25
(8) TWO MEMBERS WITH EXPE RIENCE IN TRANSPORTA TION 26
PLANNING, FINANCE, ENGINEERING, CONSTRUCTION, OR MANAGEMENT , 27
APPOINTED BY THE GOVERNOR. 28
(B) THE SECRETARY SHALL SERVE AS A NONVOTING, EX OFFICIO MEMBER. 29
12 SENATE BILL 674
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 1
(2) AT THE END OF A TERM , A MEMBER CONTINUES TO SERVE UNTIL 2
A SUCCESSOR IS APPOINTED AND QUALIFIES. 3
(D) FROM AMONG ITS MEMBER S, THE AUTHORITY SHALL ELECT A CHAIR 4
AND A VICE CHAIR. 5
(E) THE AUTHORITY SHALL ADOPT RULES AN D REGULATIONS NECESSARY 6
FOR THE CONDUCT OF THE AUTHORITY’S AFFAIRS. 7
10.5–105. 8
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 9
SERVE AS THE CHIEF EXECUTIVE OFFICER OF THE AUTHORITY. 10
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 11
THE AUTHORITY. 12
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS , STAFF, AND 13
AGENTS, INCLUDING ENGINEERING, ARCHITECTURAL, FISCAL, AND CONSTRUCTION 14
EXPERTS AND ATTORNEYS, AND SET THEIR COMPENSATION. 15
10.5–106. 16
(A) THE AUTHORITY MAY: 17
(1) ADOPT BYLAWS FOR THE CONDUCT OF THE AUTHORITY’S 18
BUSINESS; 19
(2) ADOPT A SEAL; 20
(3) MAINTAIN OFFICES AT A PLACE THE AUTHORITY DESIGNATES IN 21
THE STATE; 22
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 23
FEDERAL OR STATE GOVERNMENT , A L OCAL GOVERNMENT , A COLLEGE OR 24
UNIVERSITY, OR A PRIVATE SOURCE; 25
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INSTRUMENTS; 26
(6) SUE OR BE SUED; 27
SENATE BILL 674 13
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE, AND USE: 1
(I) A FRANCHISE, PATENT, OR LICENSE; 2
(II) STOCK OR OTHER FORMS OF OW NERSHIP INTERESTS IN 3
CORPORATIONS, LIMITED LIABILITY CO MPANIES, PARTNERSHIPS, OR OTHER 4
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PROFIT; 5
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 6
PROPERTY; OR 7
(IV) AN INTER EST IN A PROPERTY LI STED UNDER ITEMS (I) 8
THROUGH (III) OF THIS ITEM; 9
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 10
DISPOSE OF PROPERTY OR A PROPERTY INTERE ST THAT THE AUTHORITY 11
ACQUIRES; 12
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 13
CHARGES FOR SERVICES AND RESOURCES THE AUTHORITY PROVIDES OR MAKES 14
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 PERFO RMING SIMILAR FUNCTI ONS UNLESS TO DO SO WOULD 20
CONFLICT WITH STATE LAW; AND 21
(12) DO ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THE 22
POWERS GRANTED BY THIS SUBTITLE. 23
(B) (1) THE AUTHORITY SHALL EVALUAT E ALL TRANSPORTATION 24
PROJECTS AND IMPROVE MENTS OF REGIONAL SI GNIFICANCE, INCLUDING 25
HIGHWAY, MASS TRANSIT , AND TECHNOLOGY PROJE CTS, IN AND NEAR THE 26
BALTIMORE REGION. 27
(2) THE EVALUATION SHALL PROVIDE AN OBJECTIVE, QUANTITATIVE 28
RATING FOR EACH PROJECT ACCORDING TO THE DEGREE TO WHICH THE PROJECT 29
IS EXPECTED TO REDUC E CONGESTION AND , TO THE EXTENT FEASIB LE, THE 30
DEGREE TO WHICH THE PROJECT IS EXPECTED TO IMPROVE REGIONAL MOBILITY. 31
14 SENATE BILL 674
(3) THE EVALUATION SHALL RELY ON ANALYTICAL TECHNIQUES AND 1
TRANSPORTATION MODEL ING, INCLUDING THOSE THAT EMPLOY COMPUTER 2
SIMULATIONS CURRENTL Y AND CUSTOMARILY EM PLOYED IN TRANSPORTA TION 3
PLANNING. 4
(4) THE AUTHORITY MAY RELY ON THE RESULTS OF 5
TRANSPORTATION MODELING PERFORMED BY OTH ER ENTITIES , INCLUDING THE 6
DEPARTMENT AND PRIVATE ENTITIES CONTRACTED FOR THIS PURPOSE. 7
(5) THE AUTHORITY SHALL PUBLICIZE THE QUANTITATIVE RATINGS 8
DETERMINED FOR EACH PROJECT ON ITS WEBSI TE AND COMPLETE THE 9
EVALUATION AT LEAST ONCE EVERY 4 YEARS, WITH INTERIM PROGRESS REPORTS 10
PROVIDED ON THE WEBSITE AT LEAST ONCE EVERY 6 MONTHS. 11
(C) THE AUTHORITY MAY DELEGATE ANY POWER OR DUTY THE AUTHORITY 12
CONSIDERS APPROPRIATE TO A MEMBER, AN OFFICER, AN AGENT, OR AN EMPLOYEE 13
OF THE AUTHORITY. 14
10.5–107. 15
(A) (1) THE AUTHORITY SHALL PREPARE A REGIONAL TRANSPORTATION 16
PLAN FOR THE BALTIMORE REGION THAT INCLUDES TRANSPORTAT ION 17
IMPROVEMENTS OF REGIONAL SIGNIFICANCE. 18
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPO RTATION 19
PLAN. 20
(B) AFTER THE ADOPTION OF A REGIONAL TRANSPORT ATION PLAN , THE 21
AUTHORITY MAY CONSTRU CT OR ACQUIRE , BY PURCHASE, LEASE, CONTRACT, OR 22
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGIONAL 23
TRANSPORTATION PLAN. 24
10.5–108. 25
(A) THE AUTHORITY SHALL HAVE THE FOLLOWING DUTIES AND 26
RESPONSIBILITIES: 27
(1) GENERAL OVERSIGHT OF REGIONA L TRANSPORTATION 28
PROGRAMS; 29
(2) LONG–RANGE REGIONAL PLANN ING FOR THE BALTIMORE 30
REGION, BOTH FISCALLY CONSTRAINED AND UNCONSTRAINED; 31
SENATE BILL 674 15
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 1
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC –PRIVATE 2
TRANSPORTATION PROJECTS, AND FUNDING ALLOCATIONS; 3
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 4
PROJECTS ANY FUNDS M ADE AVAILABLE TO THE AUTHORITY AND , AT THE 5
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS; 6
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 7
TRANSPORTATION PROJECTS FOR RECEIPT OF FEDERAL AND STATE FUNDS; 8
(6) RECOMMENDING TO THE DEPARTMENT USE OR CHANGES IN USE 9
OF TOLLS OR CHARGES FOR FACILITIES IN THE BALTIMORE REGION; 10
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION ISSUES OF 11
A MULTIJURISDICTIONA L NATURE , INCLUDING INTELLIGEN T TRANSPORTATION 12
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR AND RESPONSE TO 13
EMERGENCIES; 14
(8) SERVING AS AN ADVOCATE FOR THE TRANSPORTATION NEEDS OF 15
THE BALTIMORE REGION BEFORE THE STATE AND FEDERAL GOVERNMENTS; AND 16
(9) APPLYING TO AND NEGOT IATING WITH THE FEDE RAL 17
GOVERNMENT AND THE STATE FOR GRANTS AND ANY OTHER FUNDS AVAILABLE TO 18
CARRY OUT THE PURPOSES OF THIS SUBTITLE. 19
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT, 20
METROPOLITAN PLANNIN G ORGANIZATIONS , AND OTHER STAKEHOLDE RS IN 21
RECOMMENDING OR PRIORITIZING ANY TRANSPORTATION PROJECT. 22
10.5–109. 23
(A) IN THIS SECTION , “FUND” MEANS THE BALTIMORE REGION 24
TRANSPORTATION FUND. 25
(B) THERE IS A BALTIMORE REGION TRANSPORTATION FUND. 26
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 27
FACILITIES IN THE BALTIMORE REGION. 28
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 29
THE FUND. 30
16 SENATE BILL 674
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NO T 1
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 2
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 3
AND THE COMPTROLLER SHALL ACCOUNT FOR THE FUND. 4
(F) THE FUND CONSISTS OF: 5
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 6
(2) INTEREST EARNINGS; 7
(3) REVENUE DISTRIBUTED T O THE FUND UNDER § 2–1303 OF THE 8
TAX – GENERAL ARTICLE; 9
(4) REVENUE DISTRIBUTED T O THE FUND UNDER § 13–209 OF THE 10
TAX – PROPERTY ARTICLE; AND 11
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACCEPTED FOR 12
THE BENEFIT OF THE FUND. 13
(G) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION , THE FUND 14
MAY BE USED ONLY FOR THE FINANCING OF TRA NSPORTATION FACILITIES IN THE 15
BALTIMORE REGION. 16
(2) EACH FISCAL YEAR, AT LEAST 30% OF THE FUND SHALL BE USED 17
FOR TRANSIT PROJECTS. 18
(H) (1) THE STATE TREASURER SHALL INVEST THE MONEY OF THE FUND 19
IN THE SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED. 20
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITED TO 21
THE FUND. 22
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 23
WITH THE STATE BUDGET. 24
(J) MONEY EXPENDED FROM THE FUND FOR FINANCING TRANSPORTATION 25
FACILITIES IN THE BALTIMORE REGION IS S UPPLEMENTAL TO AND I S NOT 26
INTENDED TO TAKE THE PLACE OF FUNDING THA T OTHERWISE WOULD BE 27
APPROPRIATED FOR TRANSPORTATION FACILITIES IN THE BALTIMORE REGION. 28
SENATE BILL 674 17
10.5–110. 1
ON OR BEFORE JANUARY 1, 2027, AND EACH JANUARY 1 THEREAFTER, THE 2
AUTHORITY SHALL REPORT TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 3
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES O F THE 4
AUTHORITY DURING THE PRIOR YEAR. 5
SUBTITLE 2. CAPITAL REGION TRANSPORTATION AUTHORITY. 6
10.5–201. 7
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 8
INDICATED. 9
(B) “AUTHORITY” MEANS THE CAPITAL REGION TRANSPORTATION 10
AUTHORITY. 11
(C) “CAPITAL REGION ” MEANS FREDERICK COUNTY, MONTGOMERY 12
COUNTY, AND PRINCE GEORGE’S COUNTY. 13
(D) “TRANSPORTATION FACILITY” HAS THE MEANING STATED IN § 3–101 OF 14
THIS ARTICLE. 15
10.5–202. 16
(A) THERE IS A CAPITAL REGION TRANSPORTATION AUTHORITY. 17
(B) THE AUTHORITY IS A BODY POLITI C AND CORPORATE AND IS AN 18
INSTRUMENTALITY OF THE STATE. 19
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 20
IS THE PERFORMANCE OF AN ESSENTIAL GOVERNMENTAL FUNCTION. 21
10.5–203. 22
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 23
INVESTMENTS IN TRANSPORTATION PROJECTS THAT MAXIMIZE THE MOVEMENT OF 24
PEOPLE AND PROMOTE E FFICIENCY, SAFETY, AND OTHER VALUES SUC H AS 25
ENVIRONMENTAL AND SOCIAL JUSTICE IMPACTS. 26
10.5–204. 27
(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBERS: 28
18 SENATE BILL 674
(1) THE COUNTY EXECUTIVE OF FREDERICK COUNTY, OR THE 1
COUNTY EXECUTIVE’S DESIGNEE; 2
(2) THE COUNTY EXECUTIVE OF MONTGOMERY COUNTY, OR THE 3
COUNTY EXECUTIVE’S DESIGNEE; 4
(3) THE COUNTY EXECUTIVE OF PRINCE GEORGE’S COUNTY, OR THE 5
COUNTY EXECUTIVE’S DESIGNEE; 6
(4) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 7
WITHIN THE CAPITAL REGION, APPOINTED BY THE PRESIDENT OF THE SENATE; 8
(5) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 9
WITHIN THE CAPITAL REGION, APPOINTED BY THE SPEAKER OF THE HOUSE; 10
(6) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N FREDERICK 11
COUNTY, DESIGNATED BY THE MUNICIPALITIES IN FREDERICK COUNTY; 12
(7) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N 13
MONTGOMERY COUNTY, DESIGNATED BY THE MU NICIPALITIES IN MONTGOMERY 14
COUNTY; 15
(8) ONE REPRESENTATIVE OF THE MUNICIPALITIES I N PRINCE 16
GEORGE’S COUNTY, DESIGNATED BY THE MU NICIPALITIES IN PRINCE GEORGE’S 17
COUNTY; AND 18
(9) TWO MEMBERS WITH EXPE RIENCE IN TRANSPORTA TION 19
PLANNING, FINANCE, ENGINEERING, CONSTRUCTION, OR MANAGEMENT , 20
APPOINTED BY THE GOVERNOR. 21
(B) THE SECRETARY SHALL SERVE AS A NONVOTING, EX OFFICIO MEMBER. 22
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 23
(2) AT THE END OF A TERM , A MEMBER CONTINUES TO SERVE UNTIL 24
A SUCCESSOR IS APPOINTED AND QUALIFIES. 25
(D) FROM AMONG ITS MEMBE RS, THE AUTHORITY SHALL ELECT A CHAIR 26
AND A VICE CHAIR. 27
(E) THE AUTHORITY SHALL ADOPT RULES AND REGULATIONS NECESSARY 28
FOR THE CONDUCT OF THE AUTHORITY’S AFFAIRS. 29
SENATE BILL 674 19
10.5–205. 1
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 2
SERVE AS THE CHIEF EXECUTIVE OFFICER OF THE AUTHORITY. 3
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 4
THE AUTHORITY. 5
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS , STAFF, AND 6
AGENTS, INCLUDING ENGINEERING, ARCHITECTURAL, FISCAL, AND CONSTRUCTION 7
EXPERTS AND ATTORNEYS, AND SET THEIR COMPENSATION. 8
10.5–206. 9
(A) THE AUTHORITY MAY: 10
(1) ADOPT BYLAWS FOR THE CONDUCT OF THE AUTHORITY’S 11
BUSINESS; 12
(2) ADOPT A SEAL; 13
(3) MAINTAIN OFFICES AT A PLACE THE AUTHORITY DESIGNATES IN 14
THE STATE; 15
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 16
FEDERAL OR STATE GOVERNMENT , A LOCAL GOVERNMENT , A COLLEGE OR 17
UNIVERSITY, OR A PRIVATE SOURCE; 18
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INSTRUMENTS; 19
(6) SUE OR BE SUED; 20
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE, AND USE: 21
(I) A FRANCHISE, PATENT, OR LICENSE; 22
(II) STOCK OR OTHER FORMS OF OWNERSHIP INTERES TS IN 23
CORPORATIONS, LIMITED LIABILITY CO MPANIES, PARTNERSHIPS, OR OTHER 24
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PROFIT; 25
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 26
PROPERTY; OR 27
20 SENATE BILL 674
(IV) AN INTEREST IN A PROP ERTY LISTED UNDER IT EMS (I) 1
THROUGH (III) OF THIS ITEM; 2
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 3
DISPOSE OF PROPERTY OR A PROPERTY INTERE ST THAT TH E AUTHORITY 4
ACQUIRES; 5
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 6
CHARGES FOR SERVICES AND RESOURCES THE AUTHORITY PROVIDES OR MAKES 7
AVAILABLE; 8
(10) CREATE, OWN, CONTROL, OR BE A MEMBER OF A CORPORATION, 9
LIMITED LIABILITY CO MPANY, PARTNERSHIP, OR OTHER ENTITY , WHETHER 10
OPERATED FOR PROFIT OR NOT FOR PROFIT; 11
(11) EXERCISE POWER USUALL Y POSSESSED BY A PRI VATE 12
CORPORATION IN PERFO RMING SIMILAR FUNCTI ONS UNLESS TO DO SO WOULD 13
CONFLICT WITH STATE LAW; AND 14
(12) DO ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THE 15
POWERS GRANTED BY THIS SUBTITLE. 16
(B) THE AUTHORITY MAY DELEGATE ANY POWER OR DUTY THE AUTHORITY 17
CONSIDERS APPROPRIATE TO A MEMBER, AN OFFICER, AN AGENT, OR AN EMPLOYEE 18
OF THE AUTHORITY. 19
10.5–207. 20
(A) (1) THE AUTHORITY SHALL PREPARE A REGIONAL TRANSPORTATION 21
PLAN FOR THE CAPITAL REGION THAT INCLUDES TRANSPORTATION 22
IMPROVEMENTS OF REGIONAL SIGNIFICANCE. 23
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPO RTATION 24
PLAN. 25
(B) (1) THE AUTHORITY SHALL EVALU ATE ALL TRANSPORTATI ON 26
PROJECTS AND IMPROVEME NTS OF REGIONAL SIGN IFICANCE, INCLUDING 27
HIGHWAY, MASS TRANSIT, AND TECHNOLOGY PROJECTS, IN AND NEAR THE CAPITAL 28
REGION. 29
(2) THE EVALUATION SHALL PROVIDE AN OBJECTIVE, QUANTITATIVE 30
RATING FOR EACH PROJECT ACCORDING TO THE DEGREE TO WHICH THE PROJECT 31
SENATE BILL 674 21
IS EXPECTED TO REDUC E CONGESTION AND , TO THE EXTENT FEASIB LE, THE 1
DEGREE TO WHICH THE PROJECT IS EXPECTED TO IMPROVE REGIONAL MOBILITY. 2
(3) THE EVALUATION SHALL RELY ON ANALYTICAL TECHNIQUES AND 3
TRANSPORTATION MODEL ING, INCLUDING THOSE THAT EMPLOY COMPUTER 4
SIMULATIONS CUSTOMARILY EMPLOYED IN TRAN SPORTATION PLANNING AT THE 5
TIME OF THE EVALUATION. 6
(4) THE AUTHORITY MAY RELY ON THE RESULTS OF 7
TRANSPORTATION MODELING PERFORMED BY OTH ER ENTITIES , INCLUDING THE 8
DEPARTMENT AND PRIVATE ENTITIES CONTRACTED FOR THIS PURPOSE. 9
(5) THE AUTHORITY SHALL PUBLICIZE THE QUANTITATIVE RATINGS 10
DETERMINED FOR EACH PROJECT ON ITS WEBSI TE AND COMPLET E THE 11
EVALUATION AT LEAST ONCE EVERY 4 YEARS, WITH INTERIM PROGRESS REPORTS 12
PROVIDED ON THE WEBSITE AT LEAST ONCE EVERY 6 MONTHS. 13
(C) AFTER THE ADOPTION OF A REGIONAL TRANSPORT ATION PLAN , THE 14
AUTHORITY MAY CONSTRU CT OR ACQUIRE , BY PURCHASE, LEASE, CONTRACT, OR 15
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGIONAL 16
TRANSPORTATION PLAN. 17
10.5–208. 18
(A) THE AUTHORITY SHALL HAVE THE FOLLOWING DUTIES AND 19
RESPONSIBILITIES: 20
(1) GENERAL OVERSIGHT OF REGIONAL TRANSPORTAT ION 21
PROGRAMS; 22
(2) LONG–RANGE REGIONAL PLANNIN G FOR THE CAPITAL RE GION, 23
BOTH FISCALLY CONSTRAINED AND UNCONSTRAINED; 24
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 25
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC –PRIVATE 26
TRANSPORTATION PROJECTS, AND FUNDING ALLOCATIONS; 27
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 28
PROJECTS ANY FUNDS M ADE AVAILABLE TO THE AUTHORITY AND , AT THE 29
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS; 30
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 31
TRANSPORTATION PROJECTS FOR RECEIPT OF FEDERAL AND STATE FUNDS; 32
22 SENATE BILL 674
(6) RECOMMENDING TO THE DEPARTMENT USE OR CHANGES IN USE 1
OF TOLLS OR CHARGES FOR FACILITIES IN THE CAPITAL REGION; 2
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION ISSUES OF 3
A MULTIJURISDICTIONA L NATURE, INCLUDING INTELLIGEN T TRANSPORTATION 4
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR AND RESPONSE TO 5
EMERGENCIES; 6
(8) SERVING AS AN ADVOCATE FOR THE TRANSPORTATION NEEDS OF 7
THE CAPITAL REGION BEFORE THE STATE AND FEDERAL GOVERNMENTS; AND 8
(9) APPLYING TO AND NEGOTIAT ING WITH THE FEDERAL 9
GOVERNMENT AND THE STATE FOR GRANTS AND ANY OTHER FUNDS AVAILABLE TO 10
CARRY OUT THE PURPOSES OF THIS SUBTITLE. 11
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT, 12
METROPOLITAN PLANNIN G ORGANIZATIONS , AND OTHER STA KEHOLDERS IN 13
RECOMMENDING OR PRIORITIZING ANY TRANSPORTATION PROJECT. 14
10.5–209. 15
(A) IN THIS SECTION , “FUND” MEANS THE CAPITAL REGION 16
TRANSPORTATION FUND. 17
(B) THERE IS A CAPITAL REGION TRANSPORTATION FUND. 18
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 19
FACILITIES IN THE CAPITAL REGION. 20
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 21
THE FUND. 22
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 23
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 24
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 25
AND THE COMPTROLLER SHALL ACCOUNT FOR THE FUND. 26
(F) THE FUND CONSISTS OF: 27
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 28
SENATE BILL 674 23
(2) INTEREST EARNINGS; 1
(3) REVENUE DISTRIBUTED T O THE FUND UNDER § 2–1303 OF THE 2
TAX – GENERAL ARTICLE; 3
(4) REVENUE DISTRIBUTED T O THE FUND UNDER § 13–209 OF THE 4
TAX – PROPERTY ARTICLE; AND 5
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 6
THE BENEFIT OF THE FUND. 7
(G) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUB SECTION, THE FUND 8
MAY BE USED ONLY FOR THE FINANCING OF TRA NSPORTATION FACILITIES IN THE 9
CAPITAL REGION. 10
(2) EACH FISCAL YEAR, AT LEAST 30% OF THE FUND SHALL BE USED 11
FOR TRANSIT PROJECTS. 12
(H) (1) THE STATE TREASURER SHALL INVEST THE MONEY OF THE FUND 13
IN THE SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED. 14
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITED TO 15
THE FUND. 16
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 17
WITH THE STATE BUDGET. 18
(J) MONEY EXPENDED FROM THE FUND FOR FINANCING TRANSPORTATION 19
FACILITIES IN THE CA PITAL REGION IS SUPP LEMENTAL TO AND IS N OT INTENDED 20
TO TAKE THE PLACE OF FUNDING THAT OTHERWISE WOULD BE APPROPRIATED FOR 21
TRANSPORTATION FACILITIES IN THE CAPITAL REGION. 22
10.5–210. 23
ON OR BEFORE JANUARY 1, 2027, AND EACH JANUARY 1 THEREAFTER, THE 24
AUTHORITY SHALL REPORT TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 25
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES OF THE 26
AUTHORITY DURING THE PRIOR YEAR. 27
SUBTITLE 3. SOUTHERN MARYLAND REGION TRANSPORTATION AUTHORITY. 28
10.5–301. 29
24 SENATE BILL 674
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 1
INDICATED. 2
(B) “AUTHORITY” MEANS THE SOUTHERN MARYLAND REGION 3
TRANSPORTATION AUTHORITY. 4
(C) “SOUTHERN MARYLAND REGION” MEANS CALVERT COUNTY, CHARLES 5
COUNTY, AND ST. MARY’S COUNTY. 6
(D) “TRANSPORTATION FACILITY” HAS THE MEANING STATED IN § 3–101 OF 7
THIS ARTICLE. 8
10.5–302. 9
(A) THERE IS A SOUTHERN MARYLAND REGION TRANSPORTATION 10
AUTHORITY. 11
(B) THE AUTHORITY IS A BODY P OLITIC AND CORPORATE AND IS AN 12
INSTRUMENTALITY OF THE STATE. 13
(C) THE EXERCISE BY THE AUTHORITY OF A POWER UNDER THIS SUBTITLE 14
IS THE PERFORMANCE OF AN ESSENTIAL GOVERNMENTAL FUNCTION. 15
10.5–303. 16
THE PURPOSE OF THE AUTHORITY IS TO PREPA RE AND IMPLEMENT 17
INVESTMENTS IN TRANSPORTATION PROJECTS THAT MAXIMIZE THE MOVEMENT OF 18
PEOPLE AND PROMOTE E FFICIENCY, SAFETY, AND OTHER VALUES SUC H AS 19
ENVIRONMENTAL AND SOCIAL JUSTICE IMPACTS. 20
10.5–304. 21
(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBERS: 22
(1) ONE MEMBER APPOINTED BY THE GOVERNING BODY OF CALVERT 23
COUNTY; 24
(2) ONE MEMBER APPOINTED BY THE GOVERNING BODY OF CHARLES 25
COUNTY; 26
(3) ONE MEMBER APPOINTED BY THE GOVERNING BOD Y OF ST. 27
MARY’S COUNTY; 28
SENATE BILL 674 25
(4) ONE ELECTED OFFICIAL FROM EACH MUNICIPALITY WITHIN THE 1
SOUTHERN MARYLAND REGION , APPOINTED BY THE GOVERNING BODY OF TH E 2
MUNICIPALITY; 3
(5) ONE MEMBER OF THE SENATE OF MARYLAND WHO RESIDES 4
WITHIN THE SOUTHERN MARYLAND REGION, APPOINTED BY THE PRESIDENT OF 5
THE SENATE; 6
(6) TWO MEMBERS OF THE HOUSE OF DELEGATES WHO RESIDE 7
WITHIN THE SOUTHERN MARYLAND REGION, APPOINTED BY THE SPEAKER OF THE 8
HOUSE; AND 9
(7) TWO MEMBERS WITH EXPE RIENCE IN TRANSPORTA TION 10
PLANNING, FINANCE, ENGINEERING, CONSTRUCTION, OR MANAGEMENT , 11
APPOINTED BY THE GOVERNOR. 12
(B) THE SECRETARY SHALL SERVE AS A NONVOTING, EX OFFICIO MEMBER. 13
(C) (1) THE TERM OF A MEMBER IS 4 YEARS. 14
(2) AT THE END OF A TERM , A MEMBER CONTINUES TO SERVE UNTIL 15
A SUCCESSOR IS APPOINTED AND QUALIFIES. 16
(D) FROM AMONG ITS MEMBER S, THE AUTHORITY SHALL ELECT A CHAIR 17
AND A VICE CHAIR. 18
(E) THE AUTHORITY SHALL ADOPT RULES AND REGU LATIONS NECESSARY 19
FOR THE CONDUCT OF THE AUTHORITY’S AFFAIRS. 20
10.5–305. 21
(A) (1) THE AUTHORITY SHALL EMPLO Y AN EXECUTIVE DIRECTOR TO 22
SERVE AS THE CHIEF EXECUTIVE OFFICER OF THE AUTHORITY. 23
(2) THE EXECUTIVE DIRECTOR SHALL SERVE AT THE PLEASURE OF 24
THE AUTHORITY. 25
(B) THE AUTHORITY MAY EMPLOY OR RETAIN OFFICERS , STAFF, AND 26
AGENTS, INCLUDING ENGINEERING, ARCHITECTURAL, FISCAL, AND CONSTRUCTION 27
EXPERTS AND ATTORNEYS, AND SET THEIR COMPENSATION. 28
10.5–306. 29
26 SENATE BILL 674
(A) THE AUTHORITY MAY: 1
(1) ADOPT BYLAWS FOR THE CONDUCT OF THE AUTHORITY’S 2
BUSINESS; 3
(2) ADOPT A SEAL; 4
(3) MAINTAIN OFFICES AT A PLACE THE AUTHORITY DESIGNATES IN 5
THE STATE; 6
(4) ACCEPT LOANS, GRANTS, OR ASSISTANCE OF ANY KIND FROM THE 7
FEDERAL OR STATE GOVERNMENT , A LOCA L GOVERNMENT , A COLLEGE OR 8
UNIVERSITY, OR A PRIVATE SOURCE; 9
(5) ENTER INTO CONTRACTS AND OTHER LEGAL INSTRUMENTS; 10
(6) SUE OR BE SUED; 11
(7) ACQUIRE, PURCHASE, HOLD, LEASE AS LESSEE, AND USE: 12
(I) A FRANCHISE, PATENT, OR LICENSE; 13
(II) STOCK OR OTHER FORMS OF OWNER SHIP INTERESTS IN 14
CORPORATIONS, LIMITED LIABILITY CO MPANIES, PARTNERSHIPS, OR OTHER 15
ENTITIES, WHETHER OPERATED FOR PROFIT OR NOT FOR PROFIT; 16
(III) ANY REAL, PERSONAL, MIXED, TANGIBLE, OR INTANGIBLE 17
PROPERTY; OR 18
(IV) AN INTEREST IN A PROPERTY LISTED UNDER ITEMS (I) 19
THROUGH (III) OF THIS ITEM; 20
(8) SELL, LEASE AS LESSOR , TRANSFER, LICENSE, ASSIGN, OR 21
DISPOSE OF PROPERTY OR A PROPERTY INTERE ST THAT THE AUTHORITY 22
ACQUIRES; 23
(9) FIX AND COLLECT RATES , RENTALS, FEES, ROYALTIES, AND 24
CHARGES FOR SERVICES AND RESOURCES THE AUTHORITY PROVIDES OR MAKES 25
AVAILABLE; 26
(10) CREATE, OWN, CONTROL, OR BE A MEMBER OF A CORPORATION, 27
LIMITED LIABILITY CO MPANY, PARTNERSHIP, OR OTHER ENTITY , WHETHER 28
OPERATED FOR PROFIT OR NOT FOR PROFIT; 29
SENATE BILL 674 27
(11) EXERCISE POWER USUALL Y POSSESSED BY A PRI VATE 1
CORPORATION IN PERFO RMING SIMILAR FUNCTI ONS UNLESS TO DO SO WOULD 2
CONFLICT WITH STATE LAW; AND 3
(12) DO ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THE 4
POWERS GRANTED BY THIS SUBTITLE. 5
(B) THE AUTHORITY MAY DELEGATE ANY POWER OR DUTY THE AUTHORITY 6
CONSIDERS APPROPRIATE TO A MEMBER, AN OFFICER, AN AGENT, OR AN EMPLOYEE 7
OF THE AUTHORITY. 8
10.5–307. 9
(A) (1) THE AUTHORITY SHALL PREPARE A REGIONAL TRANSPORTATION 10
PLAN FOR THE SOUTHERN MARYLAND REGION THAT INCLUDES TRANSPORTATION 11
IMPROVEMENTS OF REGIONAL SIGNIFICANCE. 12
(2) THE AUTHORITY MAY REVISE THE REGIONAL TRANSPO RTATION 13
PLAN. 14
(B) (1) THE AUTHORITY SHALL EVALU ATE ALL TRANSPORTATI ON 15
PROJECTS AND IMPROVE MENTS OF REGIONAL SI GNIFICANCE, INCLUDING 16
HIGHWAY, MASS TRANSIT , AND TECHNOLOGY PROJE CTS, IN AND NEAR THE 17
SOUTHERN MARYLAND REGION. 18
(2) THE EVALUATION SHALL PROVIDE AN OBJECTIVE, QUANTITATIVE 19
RATING FOR EACH PROJECT ACCORDING TO THE DEGREE TO WHICH THE PROJECT 20
IS EXPECTED TO REDUC E CONGESTION AND , TO THE EXTENT FEASIBLE , THE 21
DEGREE TO WHICH THE PROJECT IS EXPECTED TO IMPROVE REGIONAL MOBILITY. 22
(3) THE EVALUATION SHALL RELY ON ANALYTICAL TECHNIQUES AND 23
TRANSPORTATION MODEL ING, INCLUDING THOSE THAT EMPLOY COMPUTER 24
SIMULATIONS CURRENTL Y AND CUSTOMARILY EM PLOYED IN TRANSPORTA TION 25
PLANNING. 26
(4) THE AUTHORITY MAY RELY ON THE RESULTS OF 27
TRANSPORTATION MODELING PERFORMED BY OTH ER ENTITIES , INCLUDING THE 28
DEPARTMENT AND PRIVATE ENTITIES CONTRACTED FOR THIS PURPOSE. 29
(5) THE AUTHORITY SHALL PUBLICIZE THE QUANTITATIVE RATINGS 30
DETERMINED FOR EACH PROJECT ON ITS WEBSI TE AND COMPLETE THE 31
28 SENATE BILL 674
EVALUATION AT LEAST ONCE EVERY 4 YEARS, WITH INTERIM PROGRESS REPORTS 1
PROVIDED ON THE WEBSITE AT LEAST ONCE EVERY 6 MONTHS. 2
(C) AFTER THE A DOPTION OF A REGIONA L TRANSPORTATION PLA N, THE 3
AUTHORITY MAY CONSTRU CT OR ACQUIRE , BY PURCHASE, LEASE, CONTRACT, OR 4
OTHERWISE, THE TRANSPORTATION F ACILITIES SPECIFIED IN THE REGIONAL 5
TRANSPORTATION PLAN. 6
10.5–308. 7
(A) THE AUTHORITY SHALL HAVE THE FOLLOW ING DUTIES AND 8
RESPONSIBILITIES: 9
(1) GENERAL OVERSIGHT OF REGIONAL TRANSPORTAT ION 10
PROGRAMS; 11
(2) LONG–RANGE REGIONAL PLANN ING FOR THE SOUTHERN 12
MARYLAND REGION, BOTH FISCALLY CONSTRAINED AND UNCONSTRAINED; 13
(3) RECOMMENDING TO STATE, REGIONAL, AND FEDERAL AGENCIES 14
REGIONAL TRANSPORTAT ION PRIORITIES , INCLUDING PUBLIC –PRIVATE 15
TRANSPORTATION PROJECTS, AND FUNDING ALLOCATIONS; 16
(4) ALLOCATING TO PRIORIT Y REGIONAL TRANSPORT ATION 17
PROJECTS ANY FUNDS M ADE AVAILABLE TO THE AUTHORITY AND , AT THE 18
DISCRETION OF THE AUTHORITY, DIRECTLY OVERSEEING THE PROJECTS; 19
(5) RECOMMENDING TO THE DEPARTMENT PRIORITY R EGIONAL 20
TRANSPORTATION PROJECTS FOR RECEIPT OF FEDERAL AND STATE FUNDS; 21
(6) RECOMMENDING TO THE DEPARTMENT USE OR CHANGES IN USE 22
OF TOLLS OR CHARGES FOR FACILITIES IN THE SOUTHERN MARYLAND REGION; 23
(7) GENERAL OVERSIGHT OF REGIONAL TRANSPORTATION ISSUES OF 24
A MULTIJURISDICTIONA L NATURE , INCLUDING INTELLIGEN T TRANSPORTATION 25
SYSTEMS, SIGNALIZATION, AND PREPARATION FOR AND RESPONSE TO 26
EMERGENCIES; 27
(8) SERVING AS AN ADVOCATE FOR THE TRANSPORTATION NEEDS OF 28
THE SOUTHERN MARYLAND REGION BEFOR E THE STATE AND FEDERAL 29
GOVERNMENTS; AND 30
SENATE BILL 674 29
(9) APPLYING TO AND NEGOT IATING WITH THE FEDE RAL 1
GOVERNMENT AND THE STATE FOR GRANTS AND ANY OTHER FUNDS AVAILABLE TO 2
CARRY OUT THE PURPOSES OF THIS SUBTITLE. 3
(B) THE AUTHORITY SHALL CONSU LT WITH THE DEPARTMENT, 4
METROPOLITAN PLANNIN G ORGANIZATIONS , AND OTHER STAKEHOLDE RS IN 5
RECOMMENDING OR PRIORITIZING ANY TRANSPORTATION PROJECT. 6
10.5–309. 7
(A) IN THIS SECTION, “FUND” MEANS THE SOUTHERN MARYLAND REGION 8
TRANSPORTATION FUND. 9
(B) THERE IS A SOUTHERN MARYLAND REGION TRANSPORTATION FUND. 10
(C) THE PURPOSE OF THE FUND IS TO FINANCE TR ANSPORTATION 11
FACILITIES IN THE SOUTHERN MARYLAND REGION. 12
(D) THE EXECUTIVE DIRECTOR OF THE AUTHORITY SHALL ADMIN ISTER 13
THE FUND. 14
(E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 15
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 16
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 17
AND THE COMPTROLLER SHALL ACCOUNT FOR THE FUND. 18
(F) THE FUND CONSISTS OF: 19
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 20
(2) INTEREST EARNINGS; 21
(3) REVENUE DISTRIBUTED T O THE FUND UNDER § 2–1303 OF THE 22
TAX – GENERAL ARTICLE; 23
(4) REVENUE DISTRIBUTED T O THE FUND UNDER § 13–209 OF THE 24
TAX – PROPERTY ARTICLE; AND 25
(5) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 26
THE BENEFIT OF THE FUND. 27
30 SENATE BILL 674
(G) (1) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION , THE FUND 1
MAY BE USED ONLY FOR THE FINANCING OF TRA NSPORTATION FACILITIES IN THE 2
SOUTHERN MARYLAND REGION. 3
(2) EACH FISCAL YEAR, AT LEAST 30% OF THE FUND SHALL BE USED 4
FOR TRANSIT PROJECTS. 5
(H) (1) THE STATE TREASURER SHALL INVEST THE MONEY OF THE FUND 6
IN THE SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED. 7
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITED TO 8
THE FUND. 9
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 10
WITH THE STATE BUDGET. 11
(J) MONEY EXPENDED FROM THE FUND FOR FINANCING TRANSPORTATION 12
FACILITIES IN THE SOUTHERN MARYLAND REGION IS SU PPLEMENTAL TO AND IS 13
NOT INTENDED TO TAKE THE PLACE OF FUNDING THAT OTHERWISE WOULD BE 14
APPROPRIATED FOR TRANSPORTATION FACILITIES IN THE SOUTHERN MARYLAND 15
REGION. 16
10.5–310. 17
ON OR BEFORE JANUARY 1, 2027, AND EACH JANUARY 1 THEREAFTER, THE 18
AUTHORITY SHALL REPORT TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 19
2–1257 OF THE STATE GOVERNMENT ARTICLE, ON THE ACTIVITIES OF THE 20
AUTHORITY DURING THE PRIOR YEAR. 21
SUBTITLE 4. FINANCING OF TRANSPORTATION PROJECTS. 22
10.5–401. 23
IN THIS SUBTITLE, “AUTHORITY” MEANS: 24
(1) THE BALTIMORE REGION TRANSPORTATION AUTHORITY 25
ESTABLISHED UNDER § 10.5–102 OF THIS TITLE; 26
(2) THE CAPITAL REGION TRANSPORTATION AUTHORITY 27
ESTABLISHED UNDER § 10.5–202 OF THIS TITLE; AND 28
(3) THE SOUTHERN MARYLAND REGION TRANSPORTATION 29
AUTHORITY ESTABLISHED UNDER § 10.5–302 OF THIS TITLE. 30
SENATE BILL 674 31
10.5–402. 1
(A) TO FINANCE THE COST O F TRANSPORTATION FAC ILITIES AND 2
PROJECTS, AN AUTHORITY MAY ISSUE B ONDS, NOTES, OR OTHER EVIDENCES O F 3
OBLIGATION, PAYABLE SOLELY FROM THE REVENUES DISTRIB UTED 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 ON THEIR FACE; 11
(2) CONSTITUTE A PLEDGE OF THE FULL FAITH AND CREDIT OF THE 12
STATE OR A POLITICAL SUBDIVISION OF THE STATE; OR 13
(3) DIRECTLY OR INDIRECTLY OBLIGATE THE STATE OR A POLITICAL 14
SUBDIVISION OF THE STATE TO IMPOSE ANY T AX, AND SHALL CONTAIN A 15
STATEMENT ON THEIR FACE TO THAT EFFECT. 16
(B) AN AUTHORITY SHALL DETER MINE THE FOLLOWING C ONCERNING 17
BONDS ISSUED BY THE AUTHORITY: 18
(1) DATE OF ISSUE; 19
(2) INTEREST RATE; 20
(3) DATE AND AMOUNT OF MATURITY, EXCEPT THAT A BOND MAY NOT 21
MATURE MORE THAN 40 YEARS AFTER ITS DATE OF ISSUE; 22
(4) FORM AND MANNER OF EXECUTION; 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
32 SENATE BILL 674
(1) WITHOUT OBTAINING THE CONSENT OF ANY INSTR UMENTALITY, 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 AN AUTHORITY BY 6
THE MANUAL OR FACSIMILE SIGNATURES OF THE INDIVIDUALS DESIGNATED BY THE 7
GOVERNING BODY OF THE AUTHORITY. 8
(2) OTHER SIGNATURES ON THE BONDS MAY BE EITHER MANUAL OR 9
FACSIMILE. 10
(E) IF AN INDIVIDUAL WHOSE MANUAL OR FACSIMILE SIGNATURE APPEARS 11
ON ANY BOND OR COUPON CEASES TO SERVE 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 REM AINED IN THAT 14
CAPACITY UNTIL DELIVERY 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 FACIL ITIES OR PROJECTS FO R WHICH THE AUTHORITY 19
PREVIOUSLY ISSUED BONDS UNDER THIS SUBTITLE. 20
(B) IF, BY REASON OF INCREAS ED CONSTRUCTION COST S, ERROR IN 21
ESTIMATES, OR OTHERWISE, THE PROCEEDS OF THE BONDS OF ANY ISSUE ARE LESS 22
THAN THE AMOUNT REQU IRED FOR THE PURPOSE FOR WHICH THE BONDS ARE 23
AUTHORIZED, ADDITIONAL BONDS MAY BE IS SUED IN A SIMILAR MA NNER TO 24
PROVIDE THE AMOUNT OF 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 FOR OTHER BONDS OR BY PAYMENT, PURCHASE, 30
OR REDEMPTION WITH THE PROCEEDS OF THE SALE OF OTHER BONDS. 31
(B) AN AUTHORITY MAY ISSUE REFUNDING BONDS FOR: 32
SENATE BILL 674 33
(1) REFUNDING ANY BONDS I SSUED UNDER THIS SUBTITLE OR ANY 1
BONDS OF PRIOR ISSUES, INCLUDING THE PAYMENT OF ANY REDEMPTION PREMIUM 2
ON THE BONDS AND ANY INTEREST ACCRUED OR TO ACCRUE TO THE DAT E OF 3
REDEMPTION OF THE BONDS; 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 PREPARATIO N OF DEFINITIVE BOND S, AN AUTHORITY MAY 8
ISSUE INTERIM CERTIF ICATES OR TEMPORARY BONDS, WITH OR WITHOUT 9
COUPONS, EXCHANGEABLE FOR DEFINITIVE BONDS WHEN T HE DEFINITIVE BONDS 10
HAVE BEEN EXECUTED AND ARE AVAILABLE FOR DELIVERY. 11
10.5–407. 12
(A) AN AUTHORITY MAY ISSUE B OND ANTICIPATION NOT ES PAYABLE TO 13
THE BEARER OR REGISTERED HOLDER OF THE NOTES OUT OF THE FIRST PROCEEDS 14
OF THE NEXT SALE OF BONDS ISSUED UNDER THIS SUBTITLE. 15
(B) THE ISSUANCE OF BOND ANTICIPATION NOTES, THE DETAILS OF THEIR 16
ISSUANCE, THE RIGHTS OF THEIR HOLDERS, AND THE RIGHTS , DUTIES, AND 17
OBLIGATIONS OF THE AUTHORITY WITH RESPEC T TO THE BOND ANTICI PATION 18
NOTES ARE GOVERNED B Y THE PROVISIONS OF THIS SUBTITLE RELATI NG TO THE 19
ISSUANCE OF THE BONDS IN ANTICIPATION OF THE SALE AT WHICH THE NOTES ARE 20
ISSUED, INSOFAR AS THOSE PROVISIONS ARE APPLICABLE. 21
10.5–408. 22
(A) BONDS ISSUED UNDER TH IS SUBTITLE MAY BE S ECURED BY A TRUST 23
AGREEMENT BETWEEN AN AUTHORITY AND A CORPORATE TRUSTEE, WHICH MAY BE 24
ANY TRUST COMPANY OR BANK HAVING TRUST PO WERS WITHIN OR OUTSI DE THE 25
STATE. 26
(B) THE TRUST AGREEMENT MAY PLEDGE OR ASSIGN ALL OR ANY PART OF 27
THE REVENUES OF AN AUTHORITY OR OF ANY T RANSPORTATION FACILI TY 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
34 SENATE BILL 674
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 TRUST AGREEMENT AS SECURITY FOR THE BONDS, NOTES, OR 7
OTHER EVIDENCES OF OBLIGATION SHALL BE DEEMED TO BE TRUST FU NDS TO BE 8
HELD AND APPLIED ONLY AS PROVIDED IN THIS SUBTITLE. 9
10.5–411. 10
EXCEPT TO THE EXTENT RESTRICTED BY THE TR UST AGREEMENT , THE 11
TRUSTEE OR ANY HOLDER OF BONDS ISSUED UNDER THIS SUBTITLE OR OF ANY OF 12
THE COUPONS APPERTAINING TO THE BONDS MAY: 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 AN D COMPEL THE PERFORM ANCE OF ALL DUTIES 17
REQUIRED BY THIS SUBTITLE OR BY THE TRUST AGREEMENT TO BE PERFORMED BY 18
AN AUTHORITY OR BY ANY OF ITS OFFICERS. 19
10.5–412. 20
BONDS ISSUED UNDER THIS SUBTITLE ARE SECURITIES: 21
(1) IN WHICH ALL PUBLIC O FFICERS AND PUBL IC BODIES 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 ASSOCIATIONS, INVESTMENT COMPANIES, EXECUTORS, 25
ADMINISTRATORS, TRUSTEES, AND OTH ER FIDUCIARIES MAY P ROPERLY 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 FOR WHICH THE DEPOSIT OF BONDS 31
OR OBLIGATIONS OF THE STATE IS AUTHORIZED BY LAW. 32
10.5–413. 33
SENATE BILL 674 35
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 TH EM, INCLUDING ANY PROFIT REALIZED IN THEIR SA LE 3
OR EXCHANGE, SHALL BE EXEMPT FROM TAXATION BY THE STATE OR BY ANY OF ITS 4
POLITICAL SUBDIVISIONS, MUNICIPAL CORPORATIONS, 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, 2026. 7
SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take effect 8
October 1, 2026. 9