Ch. 241                                           LAWS OF MARYLAND

The Committee consists of the following 5 members:

(1)  1 individual appointed by the Governor; and

(2)  as ex officio members:

(i) the Comptroller;

(ii) the Treasurer;

(iii) the Secretary of Budget and Fiscal
Planning; and

(iv) [the Secretary of State Planning.] THE
SECRETARY OF TRANSPORTATION.

8-112.

(a)  The Committee shall review ON A CONTINUING BASIS the
size and condition of the State [debt on a continuing basis] TAX
SUPPORTED DEBT AS WELL AS OTHER DEBT OF STATE UNITS, INCLUDING
THE UNIVERSITY OF MARYLAND SYSTEM, MORGAN STATE UNIVERSITY, AND
ST. MARY'S COLLEGE OF MARYLAND.

(b)  On or before [August 1] SEPTEMBER 10 of each year, the
Committee shall submit to the Governor and the General Assembly
the Committee's estimate of the total amount of new State debt
that prudently may be authorized for the next fiscal year.

(c)   In making the estimate, the Committee shall consider:

(1)  the amount of State bonds that, during the next
fiscal year:

(i) will be outstanding; and

(ii) will be authorized but unissued;

(2)  the capital program prepared by the Department of
State Planning;

(3)  capital improvement and school construction needs
during the next 5 fiscal years, as projected by the Interagency
Committee on School Construction;

(4)  projections of debt service requirements during
the next 10 fiscal years;

(5)  the criteria that recognized bond rating agencies
use to judge the quality of issues of State bonds;

(6)  any other factor that is relevant to:

- 2236 -