Md. Code, State Finance and Procurement § 8-104
This is the official text of Md. Code, State Finance and Procurement § 8-104, part of Maryland’s Code, State Finance and Procurement — governs the state budget and government contracting.
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§8–104.
Official statutory text
(a) In this Part II of this subtitle the following words have the meanings indicated.
(b) “Committee” means the Capital Debt Affordability Committee.
(c) (1) “Tax supported debt” means:
(i) State debt; and
(ii) other forms of debt, including State agency capital leases supported in whole or part by State tax revenues and debt of the Department of Transportation, the Maryland Stadium Authority, and other units of State government which, in the opinion of the Committee, are supported directly or indirectly by State tax revenues.
(2) “Tax supported debt” does not include capital leases used to finance energy performance contracts entered into under § 12–301 of this article, if, as determined by the Committee, energy savings that are guaranteed by the contractor:
(i) equal or exceed the capital lease payments on an annual basis; and
(ii) are monitored in accordance with reporting requirements adopted by the Committee.
(b) “Committee” means the Capital Debt Affordability Committee.
(c) (1) “Tax supported debt” means:
(i) State debt; and
(ii) other forms of debt, including State agency capital leases supported in whole or part by State tax revenues and debt of the Department of Transportation, the Maryland Stadium Authority, and other units of State government which, in the opinion of the Committee, are supported directly or indirectly by State tax revenues.
(2) “Tax supported debt” does not include capital leases used to finance energy performance contracts entered into under § 12–301 of this article, if, as determined by the Committee, energy savings that are guaranteed by the contractor:
(i) equal or exceed the capital lease payments on an annual basis; and
(ii) are monitored in accordance with reporting requirements adopted by the Committee.
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