HARRY HUGHES, Governor

5367

AN ACT concerning

Industrial Revenue Bonds - State Facilities

FOR the purpose of prohibiting counties and municipalities
from issuing industrial revenue bonds to build certain
state facilities unless certain conditions are met
including approval of the State or any agency of the
State from entering certain leases or contracts
relating to certain facilities and revenue bonds
without certain approvals by the Legislative Policy
Committee of the General Assembly and Board of Public
Works.

BY adding to

Article 41 - Governor - Executive and Administrative

Departments
Section 266B(g) (h)
Annotated Code of Maryland
(1980 Replacement Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows;

Article 41 - Governor - Executive and Administrative

Departments

266B.

(G) (H) (1) THIS SUBSECTION APPLIES TO ANY FACILITY
THAT WILL BE FINANCED BY REVENUE BONDS ISSUED UNDER THIS
SUBTITLE AND IS:

(I) BUILT ON STATE-OWNED PROPERTY;

(II) LEASED TO THIS STATE OR ANY AGENCY OR
THIS STATE; OR

(III) USED OR OCCUPIED BY THIS STATE OR
ANY AGENCY OF THIS STATE.

(2) A COUNTY OR MUNICIPALITY MAY NOT ISSUE ANY
REVENUE BOND FOR ANY FACILITY WITHIN THE SCOPE OF THIS
SUBSECTION UNLESS: LEASE OR CONTRACT UNDER WHICH:

(I) THE STATE OR AN AGENCY OF THE STATE IS
TO BE AN INITIAL USER OR OCCUPANT OF A FACILITY FINANCED BY
REVENUE BONDS ISSUED UNDER THIS SUBTITLE; OR