University System of Maryland - Academic Facilities Bonding Authority

This bill authorizes the University System of Maryland to issue $50 million in bonds ($26 million for specific projects and $24 million for systemwide facility renewals) to fund academic facility improvements. It directly affects three University System of Maryland campuses (Towson University, University of Maryland College Park, and the System Office) by financing projects like electrical upgrades, a new health complex, and deferred maintenance repairs. The bonds are explicitly non-state debt, meaning they do not count as Maryland's obligation or require state funding. The bill approves specific construction and renewal projects to modernize academic infrastructure without creating new state liabilities. It takes effect June 1, 2026.