Maryland officials on Thursday voted for the state to maintain its debt allowance for capital projects next fiscal year.
The debt level for the current fiscal year is $1.75 billion, which was a $500 million increase over the debt service amount approved for the prior fiscal year.
“Maintaining this current debt level will enable us to continue progress in addressing critical capital needs across state government,” state Budget Secretary Helene Grady said during a Thursday meeting of the Capital Debt Affordability Committee.
The seven-member committee — which includes the state treasurer, comptroller, budget secretary, transportation secretary, an appointee of the governor and two nonvoting lawmakers — also approved a request from the University System of Maryland for $30 million in new bonds next fiscal year for academic facilities.
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