§ 3-603
91 words·~1 min read·
/md/state-finance-and-procurement/3-603·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§3–603.
(a)The Department shall prepare, revise, and keep current a 5-year capital program.
(b)The capital program shall include all capital projects of the State whether funded by bond authorizations, operating budget funds, or capital leases.
(c)The capital program shall be consistent with the annual recommendations of the Capital Debt Affordability Committee.
(d)Except for the first year of the program, the capital program may not include General Fund capital appropriations as a source of funding other than for projects or programs that are ineligible for tax-exempt debt financing.