In the Senate - Hearing 3/04 at 1:00 p.m. (Budget and Taxation)
Summary
The bill establishes the Baltimore, Capital, and Southern Maryland regional transportation authorities and corresponding special, non‑lapsing funds. It adds sales‑tax, hotel‑stay, and real‑estate transfer‑tax surcharges in those regions, sending 70% of the revenue to the new regional fund and 30% to the counties and municipalities within the region. The authorities are authorized to issue bonds payable from these revenues, and any interest earned on the funds must be credited back to them.
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