Ch. 429

2004 LAWS OF MARYLAND

debt would increase following
the additional issuance; and

(2) the Senate Budget and Taxation
Committee and the House
Committee on Appropriations
have 45 days to review and
comment on the proposed
additional issuance before the
publication of a preliminary
official statement. The Senate
Budget and Taxation Committee
and the House Committee on
Appropriations may hold a
public hearing to discuss the
proposed increase and must
signal their intent to hold a
hearing within 45 days of
receiving notice from MDOT.

The Maryland Department of

Transportation (MDOT) shall submit with
its annual September and January
financial forecasts information on (1)

anticipated nontraditional debt

outstanding as of June 30 of each year
and (2) anticipated debt service payments
for each outstanding nontraditional debt
issuance from fiscal 2004 through fiscal
2015. Nontraditional debt outstanding is
defined as any debt instrument that is not
a consolidated transportation bond or a
GARVEE bond; such debt includes, but is
not limited to, certificates of participation,
debt backed by customer facility charges,
passenger facility charges, or other
revenues, and debt issued by the
Maryland Economic Development
Corporation or any other third party on
behalf of MDOT.

The Maryland Department of

Transportation (MDOT) shall not expend
funds on any job or position of
employment approved in this budget in
excess of 9,120.5 9,134.5 9,131.5 positions
and 171.85 contractual full-time
equivalents paid through special

- 1642 -