# State Finance and Procurement (GSF)

## Title 8. Debt

### Subtitle 1. General Obligation Debt

#### Section 8-113

On or before November 1 of each year, after considering the current estimate of the Committee, the Governor shall determine:

(1) the total authorizations of new State debt that the Governor considers advisable for the next fiscal year; and

(2) the preliminary allocation of new State debt for:

  (i) general construction projects;

  (ii) school construction projects; and

  (iii) other special projects.

---

Md. Code Ann., State Fin. & Proc. (as displayed at mgaleg.maryland.gov, October 16, 2026)