MD HB105

Adds "replacing light rail transit vehicles and costs related to the replacement of the vehicles" as an approved use of Grant Anticipation Revenue Vehicle (GARVEE) bonds issued by the Maryland Department of Transportation

GARVEE bonds are debt instruments secured by pledges of future federal transportation aid, with a maximum aggregate outstanding principal of $1 billion as of June 30 of any fiscal year

Other currently authorized uses of these bonds include the Baltimore Red Line, zero-emission buses, Southern Maryland Rapid Transit Corridor, Route 2/4 improvements (Thomas Johnson Bridge), Route 90 improvements, and Interstate 81 improvements

Bond maturity may not exceed 15 years from date of issue

Effective date: July 1, 2025