HARRY HUGHES, Governor

1005

(D) ADVISORY.

THE ESTIMATE OF THE COMMITTEE:

(1)  IS ADVISORY; AND

(2)  DOES NOT BIND THE GENERAL ASSEMBLY, THE BOARD, OR
THE GOVERNOR.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 31, §
26(b) and (c).

In subsection (c)(1) of this section, the defined term
"State bond[s]" is substituted for the former
references to "general obligation debt", in light of
the words "outstanding" and "unissued".

In subsection (c)(1)(i) of this section, the reference
to State bonds that "will be outstanding" is
substituted for the former reference to debt "that
will be issued and outstanding", since the former
reference could be read as excluding from
consideration those State bonds that will be
outstanding during the next fiscal year but were not
issued in that year. This reading seemed unintended.

In subsection (c)(2) of this section, the former
phrase "for the ensuing five fiscal years" is deleted
as unnecessary in light of the substantive
requirements of Title 5, Subtitle 7 of this article.

In subsection (c)(5) of this section, the former words
"established or" are deleted as misleading, since the
former words seemed to require consideration of
criteria that have been established but no longer are
used.

In subsection (c)(6)(i) of this section, the word
"fiscal" is added to modify the word "years", to
conform to subsections (b) and (c)(1), (3), and (4) of
this section.

Defined terms: "Board" § 8-101
"Committee" § 8-104 "State bond" § 8-101
"State debt" § 8-101

8-113. PRELIMINARY DETERMINATIONS OF GOVERNOR.

(A) REQUIRED.

ON OR BEFORE SEPTEMBER 1 OF EACH YEAR, AFTER CONSIDERING THE
CURRENT ESTIMATE OF THE COMMITTEE, THE GOVERNOR SHALL DETERMINE:

(1) THE TOTAL AUTHORIZATIONS OF NEW STATE DEBT THAT
THE GOVERNOR CONSIDERS ADVISABLE FOR THE NEXT FISCAL YEAR; AND