Department of Transportation - Grant Anticipation Revenue Vehicle Bonds - Light Rail Replacement Vehicles

HB 105 authorizes Maryland's Department of Transportation to issue bonds secured by future federal transportation aid to replace aging light rail vehicles and cover related costs. The bill specifically adds "replacing light rail transit vehicles" to the list of eligible uses for these bonds, alongside existing projects like the Baltimore Red Line and bus infrastructure. It maintains a $1 billion cap on such bonds and requires repayment before reallocating certain transportation taxes. This change directly affects the DOT's ability to finance light rail fleet upgrades using federal funding streams. The bill amends existing transportation code to enable this funding mechanism without altering tax policies.