HOUSE BILL 1597

Sponsored By:

Delegate Schuh

Entitled:

Maryland Tobacco Settlement Securitization Authority Act

Synopsis:

Establishing the Maryland Tobacco Settlement Securitization Authority; authorizing the Authority to issue bonds secured by revenues from the tobacco Master Settlement Agreement; requiring the payment of the proceeds to the State for specified purposes; authorizing the State to sell rights to specified payments to the Authority; requiring the Governor to make an annual appropriation; requiring the Authority to certify to the amount needed to pay the debt service on specified bonds; etc.

History by Legislative and Calendar Date

House Action

3/3

First Reading House Rules and Executive Nominations

3/17

Re-referred Appropriations & Health and Government Operations

3/20

Hearing 3/21 at 2:00 p.m. (Appropriations)

4/7

Unfavorable Report by Appropriations

Senate Action

No Action

Bill indexed under the following Subjects:

Appropriations

Bonds -see also- County & Baltimore City Bonds; State Bonds.

Cigarettes -see also- Smoking

Construction

Public Corporations and Instrumentalities

Public Schools

Restitution

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Tobacco

Bill affects the following Statutes:

State Finance and Procurement

( 7-316 , 7-317 , 7-326 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered