Maryland Transportation Authority - Revenue Bond Limit - Increase

SB 188 would increase the annual limit on toll-revenue bonds the Maryland Transportation Authority (MTA) can issue from $4 billion to $5 billion, effective July 1, 2026. This change directly affects the MTA, allowing it to finance new transportation projects or refinancing without legislative approval for existing bond-funded projects. The bill specifies that the $5 billion cap applies to the total outstanding principal of toll-revenue bonds as of June 30 each year, with adjustments for federal loans drawn under the Transportation Infrastructure Finance and Innovation Act. It does not alter how funds are used but expands the MTA's borrowing capacity for transportation infrastructure.