Under a bill he signed Tuesday, Gov. Wes Moore will have access to up to $275 million in state reserves to temporarily buoy businesses and individuals whose work relies on regular cargo shipping in and out of the Port of Baltimore’s main channel.
The governor isn’t expected to hit the $275 million cap, and the legislature has limited to $25 million the amount that he can withdraw at a time from the state’s rainy day funds. Moore will also have to provide notice to legislative leaders before doing so.
It’s not clear exactly how much the state may pay businesses and workers, though an executive order from the governor has allocated $60 million from state reserves and various departmental budgets for assistance to businesses and individuals at the port.
Click here to read the rest of the article written by Jack Hogan over at The Daily Record
