Governor Larry Hogan announced today plans to submit legislation during the 2019 General Assembly session to provide $1.9 billion in new school construction funding over five years. The initiative, called the Building Opportunity Fund, will give the Maryland Stadium Authority oversight of these additional school construction funds, and include accountability measures.
The new funding will come from revenue bonds funded by casino gaming revenues. This is the result of a ballot referendum approved by Maryland voters in November to ensure casino revenues are used to provide additional school funding. The referendum specifies public school construction and public school capital improvement as a targeted use.