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<section article="gsf" article_name="State Finance and Procurement" number="8-104" title_number="8" title_name="Debt" subtitle_number="1" subtitle_name="General Obligation Debt">
  <level label="a">
    <text>In this Part II of this subtitle the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <text>“Committee” means the Capital Debt Affordability Committee.</text>
  </level>
  <level label="c">
    <level label="1">
      <text>“Tax supported debt” means:</text>
      <level label="i">
        <text>State debt; and</text>
      </level>
      <level label="ii">
        <text>other forms of debt, including State agency capital leases supported in whole or part by State tax revenues and debt of the Department of Transportation, the Maryland Stadium Authority, and other units of State government which, in the opinion of the Committee, are supported directly or indirectly by State tax revenues.</text>
      </level>
    </level>
    <level label="2">
      <text>“Tax supported debt” does not include capital leases used to finance energy performance contracts entered into under § 12–301 of this article, if, as determined by the Committee, energy savings that are guaranteed by the contractor:</text>
      <level label="i">
        <text>equal or exceed the capital lease payments on an annual basis; and</text>
      </level>
      <level label="ii">
        <text>are monitored in accordance with reporting requirements adopted by the Committee.</text>
      </level>
    </level>
  </level>
</section>
