HARRY HUGHES, Governor

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CONSTITUTION AND LAWS OF MARYLAND, DO HEREBY PROMULGATE
THE FOLLOWING EXECUTIVE ORDER, EFFECTIVE IMMEDIATELY:

1. Revocation of Prior Executive Order

Executive Order 01.01.1969.08, dated
October 17, 1969, establishing a Commission on
State Debt to replace; the former Committee to
Study the State Debt is hereby revoked and
rescinded.

2 . Creation of Commission;____composition;

organization

(a)  There is a Commission on State Debt.
This Commission replaces the former Committee to
Study the State Debt.

(b)  The membership of the Commission .on
State Debt shall include all members of the
Capital Debt Affordability Committee, as
enumerated in Article 31, § 26 of the Maryland
Annotated Code of 1957 (1976 replacement volume,
1979 supplement); and the Director of the
Department of Assessments and Taxation.

(c)  The Chief of the Bureau of Revenue
Estimates shall serve as Secretary to the
Commission.

3. Purpose and Duties of the Commission

(a)  The Commission on State Debt shall
serve as an advisory group whose purpose shall be
to annually recommend to the Board of Public
Works a State tax rate on real and personal
property sufficient to provide funds to meet debt
service requirements on outstanding General
Obligation bonds during the next ensuing fiscal
year.

(b)  The Commission shall meet at least
annually and shall present its recommended State
tax rate to the Board of Public Works in a timely
manner to allow such tax rate to be determined by
the Board of Public Works on or before May 1 of
each year.

EXECUTIVE ORDER OF MARCH 20, 1980