Dashboard Capital Budget and Debt GO Bonds and School Const - General Assembly of Maryland Department of Legislative Services

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Summary

State capital spending supports grants and loans in partnership with local governments and non-State entities for, among other things, public school construction, drinking water and wastewater facilities, private hospitals, and public housing. In recent years, grant and local capital spending, including State grants to local governments for public school construction, has comprised approximately 65% of total State general obligation (GO) bond spending. Capital spending also supports State‑owned infrastructure needs, including prisons, higher education facilities, and other State-operated facilities. State‑owned capital spending has comprised approximately 35% of total GO bond spending. In fiscal 2019, with more GO bond proceeds supporting the capital program, $68 million in bond premiums proceeds, grant and loan spending including public school construction spending comprised 69%, while funding for State‑owned facilities declined to 31% of total GO spending. State support for public school construction, the largest component of grant and loan capital spending, accounts for 35% of total GO bond proceeds spending. Public school construction spending reached historic levels in fiscal 2019, including $382 million in GO bonds, $35 million in pay‑as‑you‑go funds, and $18 million in nonbudgeted funds from the Public School Construction Statewide Contingency Account, which represents prior authorized State funding that remained from completed projects and is retained by the respective county to be used to support other projects within a respective county. From fiscal 2009 through 2019, the State has invested $3.7 billion for school construction projects across the State.

Capital Spending - GO Bonds and School Construction