Maryland’s Capital Debt Affordability Committee will meet three days in October to set the State’s capital debt limits for Fiscal Year 2024.
The Capital Debt Affordability Committee (CDAC), chaired by State Treasurer Derick Davis, will meet on October 11, 14, and 19, 2022, to discuss the State’s fiscal health and consider the limit on new state capital debt for the next fiscal year.
Tuesday, October 11
- CDAC agenda: Legislative review, revenue estimates, and the review of capital programs.”
Friday, October 14
- CDCA agenda: Review of tax-supported debt and the size and condition of debt of higher education institutions.
Wednesday, October 19:
- CDAC agenda: Recommendation of general obligation bond authorizations.
CDAC will meet in-person, in Annapolis, but will likely also livestream the October gatherings. A full agenda and materials will be made available on the Treasurer’s website prior to each meeting.
CDAC consists of seven members: six serve ex officio, and one is appointed by the Governor. The State Treasurer serves as the Committee chair.
On a continuing basis, CDAC reviews the size and condition of Maryland tax-supported debt and the other debt of State units, including the University of Maryland System, Morgan State University, St. Mary’s College of Maryland, and Baltimore City Community College.
Annually, CDAC must 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. Although the committee’s estimates are advisory only, the Governor is required to give due consideration to the committee’s findings in determining the total authorizations of new State debt and in preparing a preliminary allocation for the next fiscal year.
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