Welcome to our second 2009 General Assembly Update Newsletter, and thank you for your continued interest in my activities in Annapolis as your State Delegate. Given the current economic conditions within the State of Maryland and throughout our country, I will be providing you with weekly updates of our efforts in the General Assembly on your behalf. I know you are concerned about our progress and I will do my best to keep you well informed of my activities. To that end, I would like to share the following Weekly Session Update with you.

Governor O'Malley has proposed a $1.56 billion Capital Budget for Fiscal Year 2010 (FY10). The House will focus on prioritizing shovel ready projects that will stimulate our economy. A robust Capital Budget and infrastructure spending are key components to economic recovery because they put Marylanders to work, keep us competitive in the global marketplace, and allow us to deliver services as efficiently as possible. 
 
The $1.56 billion FY10 Capital Budget is funded with $1.2 billion in debt and $332 million in current funds from Maryland Dept. of the Environment (MDE) revenue bonds, Federal PAYGO funds and PAYGO special funds. The Capital Debt Affordability Committee (CDAC) recommended a $1.111 billion limit for the general obligation (GO) debt and an additional $27 million Academic Revenue Bond limit. The Capital budget includes $1.11 billion in GO debt for State-owned facilities and an additional $11.2 million from de-authorizing unexecuted or completed GO bonds from previous years. The FY10 Capital Budget virtually eliminates the use of general funds and will relieve pressure on our very lean Operating Budget.