MD HB1557

Establishes a Real Estate Advisory Committee within the Department of General Services to review state leases, lease renewals, and property purchases exceeding $500,000 per year before submission to the Board of Public Works

Committee comprises 9 members: the Secretary of DGS (or designee), 6 real estate experts appointed by the Governor, Senate President, and House Speaker (2 each), plus 2 non-voting legislative members

Requires state agencies to submit cost-benefit analyses comparing lease vs. purchase options, parking needs assessments, justifications for above-market terms, renovation cost breakdowns, and landlord payment histories with their transaction proposals

Committee must vote on recommendations at least 1 year before lease expiration and may recommend approval, rejection, revision, or removal of specific transaction provisions

Annual report due January 1 to the Governor and General Assembly detailing all state real estate transactions, committee recommendations, and transaction status; data must be published on a public website or dashboard; effective July 1, 2026