DOCSLIB.ORG

2020 Comprehensive Annual Financial Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Comprehensive Annual Financial Report COMPREHENSIVE ANNUAL Fiscal Year Ended June 30 FINANCIAL REPORT 2020 Curbside Delivery, Annapolis Maryland. PHOTO: MAXIMILIAN FRANZ GOVERNMENTAL EXECUTIVE LEGISLATIVE JUDICIAL BRANCHES Lawrence J. Hogan, Jr. William C. Ferguson IV Mary Ellen Barbera OF MARYLAND Governor President of the Senate Chief Judge Boyd K. Rutherford Adrienne A. Jones Court of Appeals of Maryland Lieutenant Governor Speaker of Peter Franchot the House of Delegates Comptroller Brian E. Frosh Attorney General Nancy K. Kopp Treasurer W W W . M A R Y L A N D TA X E S . G O V I SUBHEAD Outdoor Dining, Annapolis. PHOTO: MAXIMILIAN FRANZ Marylanders can always be counted on Business owners such as Evan Weinstein, to find innovative ways to meet new challenges. owner of Underground Pizza, of Baltimore, While our top priority has been protecting public started a new business model mailing partially health during the COVID-19 pandemic, we also frozen pizzas directly to customers or arranging are working together to protect our economy. direct pick up to cook at home. Our beloved small businesses are facing the In Baltimore, Mount Royal Soaps Company biggest challenge in years as a worldwide health formed an unlikely partnership with Charm City pandemic wreaks havoc on our economy. Businesses Meadworks and Waverly Colors, a local maker of of all sizes across all industries had to quickly pigments for tattoos, to create hand sanitizer. pivot and rethink the way they operate or face Pocomoke City’s Hardwire LLC quickly switched devastating consequences. Sadly, thousands of operations from making body armor that protects businesses have closed due to the pandemic. law enforcement, military and residents to creating However, from all corners of the state, business face shields that protects our front line and medi- owners have stepped up to that challenge, devising cal heroes. new ways to stay open while keeping customers Distillers have taken a break from their passion and employees safe from COVID-19. They have of creating the best alcohol in country to create used ingenuity in the face of adversity to succeed. products to keep their fellow Marylanders safe Businesses from Cumberland to Edgewater, Bel from the effects of COVID-19. Air to La Plata, and all places in between, quickly While this pandemic has affected Maryland adjusted to provide contactless delivery and curb- in ways no one could have imagined, the can-do side service to customers. The streets of places like attitude of these business owners and thousands Annapolis, Oakland and throughout Maryland were more like them across this state will help see the transformed for restaurants to offer outdoor dining. economy through this tough time. II COMPREHENSIVE ANNUAL FINANCIAL REPORT COMPTROLLER OF MARYLAND A MESSAGE FROM COMPTROLLER OF MARYLAND COMPTROLLER Peter Franchot PETER FRANCHOT Comptroller Dear Marylanders, Sharonne Bonardi Deputy Comptroller As Comptroller and Maryland’s fiscal watchdog since Emmanuel Welsh 2007, I have seen the State of Maryland overcome many Chief of Staff challenges over the past 14 years. The year 2020 has Anne Klase Assistant Comptroller been a rollercoaster of change – from taking Brian L. Oliner, Esquire unprecedented steps to protect public health and to Counsel to the Comptroller Dennis Krysiak, Director retooling our economy. Many of us continue to question how the future will look Administration and Finance and how our way of life has changed, potentially for years to come. Andrew Schaufele, Director Bureau of Revenue Estimates Throughout the years, I have maintained a strong track record of holding government Dhiren Shah, Director accountable and making certain that taxpayer money is spent wisely. Maryland’s Central Payroll Bureau long-term fiscal health impacts your fiscal health and that is why I remain committed Daniel C. Riley Jr., Director Compliance Division to responsible economic policies that support our residents and small businesses. Jeffrey A. Kelly, Director Field Enforcement Division A world health crisis has tested our resolve and its impact will reverberate in our Kara Blouin, Director lives for years. From a fiscal standpoint, the COVID-19 pandemic rattled our state’s Human Resources economy, but did not shatter it. Maryland has a strong economic base that should help John Hiter, Director Information Technology Division accelerate our recovery. Susan O’Brien, Director Office of Communications At the forefront of our recovery are small business owners, who make up most of Wayne P. Green, Director the state’s economy. Faced with extraordinary challenges, these local entrepreneurs Revenue Administration Division have risen to the occasion, finding unique ways to stay open, serve their customers, Gary White, Director Tax Payer Services and provide jobs for our community. This report published by: I will always advocate for the success of businesses throughout Maryland. In these GENERAL ACCOUNTING DIVISION tough times, I remain committed to advancing reforms that reduce the prohibitive Sandra L. Zinck, CPA Director regulatory burdens placed upon Maryland businesses. For us to survive, businesses ACCOUNTING OPERATIONS large and small must partner with our communities to ensure long-term fiscal help. AND FINANCIAL REPORTING Elana Schulman, CPA, CFE Despite everything that has happened, I remain resolute in our core mission at the Assistant Director Maryland Comptroller’s Office: being respectful, responsive and getting results for REPORTING MANAGERS Maryland taxpayers. George Cherupil Sheena Asseviero, CPA I am eager to work, hand-in-hand, with residents and business owners to ensure a Tania Ivanova healthy Maryland and a thriving economy today and years to come. ADMINISTRATIVE SUPPORT Megan Arnold Sincerely, ACCOUNTANTS E. Kenneth Henschen, CPA Mahima Dave Corinne Williams Denise Latimer Maryland Comptroller, Peter Franchot Andrews Philip W W W . M A R Y L A N D TA X E S . G O V III SUBHEAD Above: A woman glues parts of the Hardwire face shield together, in March 2020, at Hardwire’s facility in Pocomoke City, Maryland. Hardwire hired dozens of college students and recently unemployed hospitality workers to ramp up production of its face shields. Left: A worker sets a completed face shield aside to continue assembling shields in March 2020. The company produced up to 100,000 face shields a day. Hardwire, LLC – Pocomoke City, Worcester County. PHOTOs: MATTHEW PRENSKY Before the COVID-19 pandemic hit, In just 30 days, the company went from testing Hardwire LLC in Pocomoke City was focused on a prototype to making 8,000 shields a day to keeping people around the world safe by creating eventually 100,000 a day. During that time, they protective armor used by military, law enforcement, hired more than 100 people to help with production. businesses, schools and everyday people. Since then, the Worcester County-based company But with the spread of COVID-19, Hardwire has created millions of face shields for people quickly shifted gears to making face shields. across America. IV COMPREHENSIVE ANNUAL FINANCIAL REPORT COMPTROLLER OF MARYLAND SUBHEAD CHRISTOPHER MYERS PHOTOGRAPHER MYERS CHRISTOPHER PHOTO: PHOTO: Known for its artisanal suds and skincare products, Mount Royal Soap Company in Baltimore formed an unlikely partnership with alcohol maker Charm City Meadworks and Waverly Color Company, a producer of high-end tattoo ink, to produce hand sanitizer to combat COVID-19. Mount Royal Soap Co., Baltimore City. PHOTOs: ________________ Mount Royal Soap Co. in Baltimore developed tizer gel hundreds of units daily in two varieties. a partnership with Charm City Meadworks and Mount Royal supplied the materials to make the Waverly Colors, a local maker of pigments for sanitizer, Waverly Colors repurposed their bottles tattoos, to make hand sanitizer. and Charm City provided a production space. Mount Royal’s usual products include artisanal The move helped save jobs and provided a great soaps, skincare and bathing products. But by April, service to the community, with some of the products the three began to collaborate to make hand sani- being donated to residents and civic groups. W W W . M A R Y L A N D TA X E S . G O V V SUBHEAD McClintock Distillery, Frederick County PHOTOs: MCCLINTOCK DISTILLERY COVID-19 was a disruptive force to Maryland’s beer and wine to supplement production. economy, and the craft alcohol industry was no Regular shipments of hand sanitizer were exception. Despite the struggle to remain open and supplied to Johns Hopkins for medical professionals, profitable, the Maryland Distiller’s Guild responded while the rest was dispersed to our first responders, to the critical shortage of hand sanitizer, a necessary other medical facilities and charitable organizations tool to fight the spread of the disease. More than 17 caring for society’s vulnerable population. The Free State distillers heeded the call, from Frederick distillers stepped in at a critical time when those to Ocean City, and Baltimore to St. Mary’s County, most susceptible to the virus needed them. switching production from manufacturing spirits to The shift to production of hand sanitizer was producing more than 50,000 gallons of hand sanitizer not without its advantages. During extraordinarily in six weeks. dark economic times, manufacturing sanitizer The transition was seamless as the process of helped distillers keep the lights on. For some, like manufacturing sanitizer was quite similar to the McClintock Distilling in Frederick County, the need distillation of spirits. When a shortage of ingredients for hand sanitizer was so great they were forced to threatened production, Maryland wineries and expand into an adjacent space to keep up with breweries provided an assist by donating unsalable demand. VI COMPREHENSIVE ANNUAL FINANCIAL REPORT COMPTROLLER OF MARYLAND SUBHEAD McClintock Distillery, Frederick County PHOTO: ALYSSA MALOOF & LYON DISTILLERY Despite the shift in production, Maryland’s Barn Distilling’s 700 MPH Bourbon, aged in a distillers were constantly innovating, and avidly Marine Harrier jet’s external fuel tank, demonstrated working to create quality spirits.
Load more

Recommended publications
  • The Budget Battle Ahead Attorney General
    A short honeymoon? Facing a vote – or not Familiar challenges await It’s unclear if Crittendon Mansion incoming USM chancellor 8A project needs council OK. 5A Monday, December 22, 2014 Volume 126 | Number 055 TheDailyRecord.com Ciraolo to get post at Justice She’s to be appointed to tax division role BY LAUREN KIRKWOOD [email protected] Caroline Ciraolo, a partner in Rosenberg Martin Greenberg LLP’s tax controversy practice group, will be appointed by the U.S. attorney general in January to a position in the Department of Justice’s Tax Division. Ciraolo will join the department as the tax division’s deputy assistant MAXIMILIAN FRANZ attorney general for policy and plan- ning, and will also serve as the princi- pal deputy assistant attorney general, she said. If President Barack Obama announces a nominee for assistant attorney general of the tax division, Ciraolo will become acting assistant The budget battle ahead attorney general. At Rosenberg Martin, Ciraolo de- fends individuals and businesses in Hogan, legislators face ‘difficult decisions’ with deficits growing federal and state civil tax controver- sies, civil tax litigation and criminal BY BRYAN P. SEARS Hogan, who will LIS S very difficult de- challenges facing the state, tax investigations and prosecutions. [email protected] be sworn into PO U cisions because said he did not wish to scare Although she’ll be on the prosecu- A M public office for N M state govern- residents. tion side of the courtroom soon, her In roughly 30 days, Larry the first time N I ment cannot “What’s good for state ultimate goal as an attorney isn’t that T Hogan will be sworn in to in January, A continue to government is good for Mary- different, she said.
    [Show full text]
  • Comptroller of Maryland
    Spring 2016 Peter Franchot, Comptroller www.marylandtaxes.com From the Desk of the Comptroller This year’s tax season with the statutory powers we need was once again highly to keep pace with the fraudsters and successful, and much financial predators that are becoming credit is due to the hard more brazen each day. Unfortunately, work of my staff in the despite the fact that it was passed Comptroller’s Office. almost unanimously by the House of We remain committed Delegates, the Senate failed to adopt to fulfilling our pledge to the taxpayers this important legislation. by fulfilling what I call the “Three R’s— Respect, Responsiveness and Results. Regardless of the legislature’s inaction on this bill, my office will remain As part of our commitment to serving on high alert and continue to take Maryland taxpayers, my office has measures to protect Marylanders’ redoubled our efforts to combat the financial integrity. We will continue rising tide of tax fraud and identity to work with our federal and state theft incidents in our state. This year partners to investigate and prosecute alone, my office has detected and those who seek to defraud our state blocked more than 8,000 fraudulent and its citizens, and keep a watchful returns—exceeding the combined total eye on every tax return that comes to from my first four years in office. our office. This past legislative session, I introduced the Taxpayer Protection Peter Franchot Act of 2016 to better equip my office Comptroller of Maryland Comptroller Stops Radioactive State Tax Returns This Tax Filing Season In an ongoing effort to thwart tax fraudsters and identity thieves, Comptroller Peter Franchot spent this past tax filing season identifying tax preparers filing suspicious returns, working with the Attorney General’s Office to indict nine people accused of tax fraud against vulnerable citizens, alerting taxpayers to various tax fraud phone and email schemes and trying to convince the General Assembly to pass his Taxpayer Protection Act.
    [Show full text]
  • Comptroller of Maryland's - News Releases
    Comptroller of Maryland's - News Releases Media Agency Office of the Services Services Comptroller News Releases 2008 Archived Media Releases 2010 News Releases 2009 News Releases Franchot: Crackdown on Tax Scheme Yields $3.5 million for the State 2008 News Releases Annapolis, MD (December 17, 2008) - Comptroller Peter Franchot announced today that a major corporation has paid over $3.5 million to the state as the result of his agency’s aggressive enforcement of Maryland’s tax laws. This is the second check resulting from a 2007 News Releases change – initiated by Franchot – in the way so-called “captive” Real Estate Investment Trusts (REIT) are treated for taxation purposes. Publications Administrative News Comptroller Franchot Claims Another Victory Against Corporate Tax Scofflaws Annapolis, MD (October 27, 2008) - Comptroller Peter Franchot announced today that subsidiaries of the popular retail chain ReveNews newsletter Nordstrom, Inc. were found liable to Maryland for corporate income taxes due from tax years 2002 and 2003. The Maryland Tax Court Booklets & Brochures ordered Nordstrom to pay the state $1,264,864 in back taxes plus interest and ten percent in penalties. This case was the most recent victory for the Comptroller's office in an aggressive effort to crack down on corporations avoiding taxes using Delaware Holding Photo and Video Archive Company tax schemes and other tax avoidance strategies. To date, the Comptroller's office has collected more than $267 million in taxes through Delaware Holding Company cases, and has an
    [Show full text]
  • Winter 2017 Peter Franchot, Comptroller
    Winter 2017 Peter Franchot, Comptroller www.marylandtaxes.com From the Desk of the Comptroller This year’s tax season fraud, we need additional resources is off to a great start. to keep pace with the increasingly Once again, my agency sophisticated fraud schemes that is firmly committed to continue to emerge. delivering the highest That’s why this legislative session, I level of service to will be urging legislators to pass my Maryland taxpayers. agency’s Taxpayer Protection Act, As part of our focus on providing which would grant my office the first-class service, we continue to be statutory powers we need to more aggressive in our efforts to combat tax effectively protect Marylanders from fraud and identity theft in Maryland. fraudsters and financial criminals. Earlier this month, we suspended I’m grateful to Governor Hogan processing electronic returns from for including this bill in his 20 tax preparation services and our administration’s legislative package nationally recognized state-of-the-art and it is my hope that the General fraud detection systems keep a watchful Assembly passes this bill with broad eye for potential fraudulent returns. We bipartisan support. also joined with the Attorney General’s Office to bring indictments in four tax fraud schemes. While I am proud of my agency’s Peter Franchot national leadership in fighting tax Comptroller of Maryland 2017 Tax Filing Season Under Way Maryland began processing personal income tax returns for Tax Year 2016 on January 23, 2017, the same day the Internal Revenue Service (IRS) began accepting returns. In an ongoing effort to combat tax fraud, the agency did not immediately process a state tax return if W-2 information was not on file.
    [Show full text]
  • Maryland Revenue Structure
    LEGISLATIVE HANDBOOK SERIES VOLUME III MARYLAND’S REVENUE STRUCTURE • Maryland’s Revenue Structure Legislative Handbook Series Volume III 2018 For further information concerning this document contact: Library and Information Services Office of Policy Analysis Department of Legislative Services 90 State Circle Annapolis, Maryland 21401 Baltimore Area: 410-946-5400 • Washington Area: 301-970-5400 Other Areas: 1-800-492-7122, Extension 5400 TTY: 410-946-5401 • 301-970-5401 Maryland Relay Service: 1-800-735-2258 E-mail: [email protected] Home Page: http://mgaleg.maryland.gov The Department of Legislative Services does not discriminate on the basis of age, ancestry, color, creed, marital status, national origin, race, religion, gender, gender identity, sexual orientation, or disability in the admission or access to its programs, services, or activities. The Department's Information Officer has been designated to coordinate compliance with the nondiscrimination requirements contained in Section 35.107 of the Department of Justice Regulations. Requests for assistance should be directed to the Information Officer at the telephone numbers shown above. ii Foreword The consequences of State tax law affect a myriad of transactions ranging from typical consumer purchases to the financing of multimillion dollar bond issuances. Because legislators will be facing many important tax decisions, this handbook has been prepared to summarize the major features of Maryland’s revenue structure. Sections are devoted to key aspects of State imposed taxes. In addition, descriptions of nontax-related sources are included to provide background and insight into the funds that compose over half of the total revenues collected by the State.
    [Show full text]
  • Register of Public Agencies
    UNITED STATES BANKRUPTCY COURT MARK A. NEAL DISTRICT OF MARYLAND Clerk of Court THOMAS C. KEARNS OFFICE OF THE CLERK Chief Deputy www.mdb.uscourts.gov Reply to Baltimore Division REGISTER OF PUBLIC AGENCIES The following Federal, State and County agencies are listed for bankruptcy noticing purposes, pursuant to the Federal Rules of Bankruptcy Procedure 2002(j) and 5003(e). Federal Agencies Commodity Futures Trading Commission Three Lafayette Center 1155 21st Street NW Washington, D.C. 20581 Internal Revenue Service Centralized Insolvency Operation P.O. Box 7346 Philadelphia, PA 19101-7346 Securities and Exchange Commission Branch of Reorganization 3475 Lenox Road NE Suite 1000 Atlanta, GA 30326-1232 Small Business Administration 409 3rd Street, NW, Suite 7200 Washington, DC 20416 Social Security Administration Office of General Counsel, Region III 300 Spring Garden Street, 6th Floor Philadelphia, PA 19123 U.S. Attorney for the District of MD 36 S. Charles Street, 4th Floor Baltimore, MD 21201-3020 U.S. Department of Education Student Loan Defaults Bank of America c/o Dept. of Education-105028 1075 Loop Road Atlanta, Georgia 30337 Baltimore Division • United States Courthouse • 101 W. Lombard Street • Room 8530 • Baltimore, MD 21201‐2605 • 410‐962‐2688 Greenbelt Division • United States Courthouse • 6500 Cherrywood Lane • Suite 300 • Greenbelt, MD 20770‐1249 • 301‐344‐8018 Register of Public Agencies Updated January 25, 2021 U.S. Department of Health and Human Services Office of the Secretary of Health and Human Services, 200 Independence Avenue SW Washington, D.C. 20201 U.S. Department of Health and Human Services Public Ledger Building 150 South Independence Mall West, Suite 436 Philadelphia, PA 19106 U.S.
    [Show full text]
  • Commission to Advance NG911 Across Maryland
    Commission to Advance NG911 Across Maryland Year Two Report Submitted December 2019 Table of Contents Letter from the Commission Chair ................................................................................................................ 1 Executive Summary ....................................................................................................................................... 3 1 Introduction ........................................................................................................................................... 8 2 Terminology ......................................................................................................................................... 10 3 Commission Background ..................................................................................................................... 11 3.1 Year One Review ......................................................................................................................... 11 3.2 Maryland 9-1-1 Structure and Actions ........................................................................................ 12 3.2.1 Commission ........................................................................................................................................... 12 3.2.2 Emergency Number Systems Board (ENSB) ........................................................................................... 12 3.2.3 Emergency Communications Committee (ECC) ....................................................................................
    [Show full text]
  • MSRPS Unclaimed Member Funds As of 4/30/2021
    MSRPS Unclaimed Member Funds as of 9/1/2021 Sorted by Member Last Name To search this document, click the Edit menu and select Find, or just press Control + F. You can also use the Bookmarks pane on the left to navigate alphabetically. Organization Member Member Beneficiary Beneficiary Last Name First Name Last Name First Name CECIL COUNTY PUBLIC SCHOOLS M SWAIN PENNY UNIVERSITY OF MARYLAND MA XIANFENG UNIVERSITY OF MD EASTERN SHORE MABELITINI CHRISTOPHER MONTGOMERY COUNTY PUBLIC MABINE TYRONE SCHOOLS DEPARTMENT OF PUBLIC SAFETY MABREY ANGELA PRINCE GEORGES CO PUBLIC MABRY VIVIAN SCHOOLS MD DEPT OF ASSESSMENTS & MABSON TYRONE TAXATION BALTIMORE CITY PUBLIC SCHOOLS MACALUSO JACQUELINE BALTIMORE COUNTY PUBLIC MACAULEY CAROLYN BUDZINSKI JOYCE SCHOOLS PRINCE GEORGES CO DEPT OF SOC MACCARO JESSICA SVRS TOWN OF MOUNT AIRY MACCORD MATHEW ANNE ARUNDEL CO PUBLIC SCHOOLS MACCREDIE BECKY DORCHESTER COUNTY PUBLIC MACCREDIE RYAN SCHOOLS WOR WIC COMMUNITY COLLEGE MACDONALD JOHN DEPT OF PUBLIC SAFETY & CORR MACDONALD KATLYNN SRVS Organization Member Member Beneficiary Beneficiary Last Name First Name Last Name First Name UNIVERSITY OF MARYLAND MACDONALD LINDSI BALTIMORE CITY PUBLIC SCHOOLS MACDONALD PAUL PRINCE GEORGES CO PUBLIC MACDONNELL KATHARINE SCHOOLS HARFORD COUNTY PUBLIC SCHOOLS MACE ANDREA BALTIMORE CITY SHERIFFS DEPT MACER SAMUEL DEPT OF PUBLIC SAFETY & CORR MACER SAMUEL SRVS DEPT OF PUBLIC SAFETY & CORR MACEY JACQUELLA SRVS MONTGOMERY COUNTY PUBLIC MACGLOAN ROBYN SCHOOLS HOWARD COUNTY PUBLIC SCHOOLS MACGREGOR NICOLE CROWNSVILLE HOSPITAL CENTER
    [Show full text]
  • (15Th Ed., November 2020) Updated 8/26/2021 Appendix
    Maryland Public Information Act Manual (15th ed., November 2020) Updated 9/14/2021 Appendix J-1 Public Information Act Representatives (General Provisions Article § 4-503(b)) Governmental units are grouped together by jurisdiction, beginning with State agencies, then county agencies, and then municipal agencies. Note that a body that qualifies as a State entity might nevertheless be grouped with county agencies when its jurisdictional reach is limited to a particular county. Also note that this list will be updated periodically, with each update bearing its revision date in the lower left-hand corner of the page. State Agencies STATE GOVERNMENTAL UNIT PIA REPRESENTATIVE MAILING ADDRESS PHONE EMAIL & INTERNET ADDRESS Administrative Office of the Nadine Maeser, Public 580 Taylor Ave., Annapolis, MD (410) 260-1486 [email protected]; Courts Information Officer 21401 http://mdcourts.gov Allegany College of Maryland Dr. B. Renee Conner 12401 Willowbrook Rd. SW (301) 784-5206 [email protected] Cumberland, Maryland 21502 www.allegany.edu Attorney General Barbara Bond 200 St. Paul Place, Baltimore, MD (410) 576-6405 [email protected]; 21202 www.oag.state.md.us Baltimore City Community Bryan L. Perry, Esq. 2900 Liberty Heights Avenue, (410) 462-8047 [email protected] College Office of General Harper Hall Suite 204, Baltimore, Counsel Maryland 21215 Banneker-Douglas Museum Robert James (410) 216-6186 [email protected] Board for the Certification of James Merrow, 4201 Patterson Avenue, Baltimore, (410) 764-5996 [email protected]
    [Show full text]
  • MARYLAND STATE TREASURER Nancy K. Kopp
    MARYLAND STATE TREASURER Nancy K. Kopp July 9, 2021 The Honorable Guy J. Guzzone The Honorable Maggie McIntosh Chair, Senate Budget and Taxation Committee Chair, House Appropriations Committee 3 West Miller Senate Office Building 121 House Office Building 11 Bladen Street 6 Bladen Street Annapolis, Maryland 21401 Annapolis, Maryland 21401 The Honorable Anne R. Kaiser Victoria L. Gruber Chair, House Ways and Means Committee Executive Director 131 House Office Building Department of Legislative Services 6 Bladen Street 90 State Circle Annapolis, Maryland 21401 Annapolis, Maryland 21401 Dear Chair Guzzone, Chair McIntosh, Chair Kaiser, and Mrs. Gruber: Section 10A-203 of the State Finance and Procurement Article of the Maryland Annotated Code requires the State Treasurer, in coordination with the Comptroller, to analyze the impact of a Public-Private Partnership (“P3”) Agreement proposed by a unit of State government and submit its report to the Budget Committees and the Department of Legislative Services within 30 days of receiving a copy of the proposed agreement. The Board of Public Works (“BPW”) may not approve the proposed P3 agreement until the report has been submitted. On June 10, 2021, my office received a P3 Agreement proposed to be entered into by the Maryland Department of Transportation (“MDOT”), the Maryland Transportation Authority (“MDTA”), and Accelerate Maryland Partners. In coordination with the Office of the Comptroller and with the cooperation of MDOT and MDTA, my staff has conducted an analysis of the P3 Agreement. The resulting report is included under this cover letter. In addition to analyzing the proposed P3 Agreement, the report discusses our concern that my office was unable to fully engage the State’s Financial Advisor and Bond Counsel to assist with the review due to a lack of funding.
    [Show full text]
  • Report of the Maryland Economic Development and Business Climate Commission
    Report of the Maryland Economic Development and Business Climate Commission PHASE II: TAXES Annapolis, Maryland January 2016 Report of the Maryland Economic Development and Business Climate Commission PHASE II: TAXES Annapolis, Maryland January 2016 Contributing Staff Primary Contributors to the Report Matthew J. Bennett, Department of Legislative Services J. Ryan Bishop, Department of Legislative Services Other Staff who Contributed to the Report or Work of the Commission Laura J. Ahlberg, Executive Assistant to the Chair Benjamin A. Blank, Department of Legislative Services George H. Butler, Jr., Department of Legislative Services Sally M. Guy, Department of Legislative Services Maureen R. Merzlak, Department of Legislative Services Susan G. Phelps, Department of Legislative Services Robert J. Rehrmann, Department of Legislative Services Heather N. Ruby, Department of Legislative Services Erika S. Schissler, Department of Legislative Services Jody J. Sprinkle, Department of Legislative Services For further information concerning this document contact: Library and Information Services Office of Policy Analysis Department of Legislative Services 90 State Circle Annapolis, Maryland 21401 Baltimore Area: 410-946-5400 ● Washington Area: 301-970-5400 Other Areas: 1-800-492-7122, Extension 5400 TTY: 410-946-5401 ● 301-970-5401 TTY users may also use the Maryland Relay Service to contact the General Assembly. Email: [email protected] Home Page: http://mgaleg.maryland.gov The Department of Legislative Services does not discriminate on the basis of age, ancestry, color, creed, marital status, national origin, race, religion, gender, gender identity, sexual orientation, or disability in the admission or access to its programs, services, or activities. The Department’s Information Officer has been designated to coordinate compliance with the nondiscrimination requirements contained in Section 35.107 of the Department of Justice Regulations.
    [Show full text]
  • New USM Chancellor a Familiar Figure Emotional Distress Damages Upheld for Injury To
    Hogan and his team Outlook 2015 Familiar faces among incoming Our special section, governor’s first four Cabinet choices 5A ‘Doing Business in Maryland,’ is inside Thursday, December 18, 2014 Volume 126 | Number 053 TheDailyRecord.com New USM We can’t sit around chancellor and wait for everyone else to fix our issues. We have to do it a familiar ourselves. We have “to take responsibility. This was our way of figure doing that. Cidalia Luis-Akbar ON FINDING CREATIVE WAYS Caret, former TO BE PHILANTHROPIC Towson leader, picked to replace Kirwan BY ALISSA GULIN [email protected] Robert L. Caret, a former presi- dent of Towson University, will be the next chancellor of the Univer- sity System of Maryland, officials confirmed Wednesday. Caret, 67, who has served as president of the five-campus Uni- versity of Massachusetts system since 2011, will take office on July PHOTOS COURTESY OF M. LUIS CONSTRUCTION. 1. Cidalia Luis-Akbar, left, and Natalia Luis, co-owners of M. Luis Construction, hold up a reflective vest from their company during their ascent SEE USM 8A of Mt. Kilimanjaro. The sisters climbed the mountain in November to raise money for Children’s National Medical Center in Washington, D.C. Climbing much more than a mountain For sisters, Kilimanjaro a chance to help and heal couldn’t make it. A grueling journey BY ALISSA GULIN is-Akbar were cocooned in layers upon Rewind about a year and half. [email protected] layers of heavy, water-resistant clothing, Cidalia and Natalia, co-owners of but the chill cut right through.
    [Show full text]