In Governor Martin O’Malley’s  fiscal year (FY) 2011 Capital Budget, the Public School Construction Program is funded at $250 million.  The funding is composed of $196.7 million in general obligation bond funds and $53.3 million in special funds from bond premiums out of the Annuity Bond Fund.

The $250 million is consistent with the multi-year State commitment recommended by the 2004 Final Report of the Task Force to Study Public School Facilities.  The Task Force recommended that to achieve adequate school facilities, the State needed to fund $250 million annually over eight years.  Supporting the capital investment in public school construction and renovation is a MACo legislative initiative.