  We describe results from a new ground-based monitoring campaign on NGC 5548,
the best studied reverberation-mapped AGN. We find that it was in the lowest
luminosity state yet recorded during a monitoring program, namely L(5100) = 4.7
x 10^42 ergs s^-1. We determine a rest-frame time lag between flux variations
in the continuum and the Hbeta line of 6.3 (+2.6/-2.3) days. Combining our
measurements with those of previous campaigns, we determine a weighted black
hole mass of M_BH = 6.54 (+0.26/-0.25) x 10^7 M_sun based on all broad emission
lines with suitable variability data. We confirm the previously-discovered
virial relationship between the time lag of emission lines relative to the
continuum and the width of the emission lines in NGC 5548, which is the
expected signature of a gravity-dominated broad-line region. Using this lowest
luminosity state, we extend the range of the relationship between the
luminosity and the time lag in NGC 5548 and measure a slope that is consistent
with alpha = 0.5, the naive expectation for the broad line region for an
assumed form of r ~ L^alpha. This value is also consistent with the slope
recently determined by Bentz et al. for the population of reverberation-mapped
AGNs as a whole.
