The Capital Debt Affordability Committee held the first of three annual meetings, starting the process of recommending a level of capital debt for the State.
The Capital Debt Affordability Committee (CDAC) is required to submit to the Governor and the General Assembly each year an estimate of the maximum amount of new general obligation debt that prudently may be authorized for the next fiscal year. Due to the passage of SB 85 in the 2019 Legislative Session, the date has been extended to October 20, giving the Committee more time to review the recommendations.
The Committee is also charged with making a recommendation regarding additional funding for school construction. MACo tracks the work of the Committee as it relates to capital spending by the State on projects that affect county governments.
During the meeting, Secretary David Brinkley, Treasurer Nancy Kopp, Comptroller Peter Franchot, and members of the Committee heard reports on the Status of Affordability Benchmarks, 2020 Legislative Session General Assembly Actions, General Fund Estimates, Assessable Base Estimates, the Capital Program, and the Public School Construction Program.
The next CDAC meeting will be Thursday, October 14. The presentations on the agenda are: Transportation Bonds, Maryland Stadium Authority Bonds, Bay Restoration Bonds, Capital Leases, and Debt of Higher Education Institutions