2023 Maryland Statutes › State Finance and Procurement › Division I - State Finance › Title 6 - Revenues › Subtitle 1 - Studies and Estimates › Section 6-106 - Board

(a)    (1)    In this section, “nonwithholding income tax revenues” means the State share of income tax quarterly estimated and final payments with returns made by individuals, as defined in § 10–101 of the Tax – General Article.
(2)    “Nonwithholding income tax revenues” does not include:
(i)    the county share of income tax quarterly estimated and final payments with returns made by individuals;
(ii)    income tax payments made by corporations;
(iii)    income tax refunds paid to individuals or corporations; or
(iv)    income tax withholding.
(a–1)    The Board shall:
(1)    study the information that the Bureau provides; and
(2)    consider the recommendations of the Bureau.
(b)    (1)    In December, March, and September of each year, the Board shall submit to the Governor and, in accordance with § 2–1257 of the State Government Article, to the General Assembly, a report that:
(i)    contains an itemized statement of the estimated State revenues from all sources for the fiscal year following the fiscal year in which the report is made; and
(ii)    includes any recommendations of the Board.
(2)    (i)    Subject to subparagraph (ii) of this paragraph, the Governor shall state the most recent estimates of revenues reported by the Board in the proposed budget and any supplemental budget submitted to the General Assembly.
(ii)    If the Governor uses different estimates of revenues in the formulation of the proposed budget and any supplemental budget submitted to the General Assembly than those reported by the Board, a statement providing an explanation as to the differences shall be included together with those submissions.
(3)    The report required under paragraph (1) of this subsection shall include estimated revenues from nonwithholding income taxes calculated in accordance with § 6–104(e) of this subtitle.
(c)    The Board shall approve a methodology for determining the State share of nonwithholding income tax revenues for each fiscal year.
(d)    (1)    On or before July 31 each year, the Board, in coordination with the Chief, shall schedule the Board’s annual meetings for March, December, and September of that fiscal year.
(2)    Not later than 5 days before the scheduled date of the meeting, the Board, on the recommendation of the Chief, may reschedule a meeting under this subsection.
(3)    Notice of a meeting rescheduled under paragraph (2) of this subsection shall:
(i)    be posted to the website established under subsection (e) of this section; and
(ii)    include a statement from the Chief concerning the reason the meeting is rescheduled.
(e)    The Board shall develop and maintain a website that:
(1)    provides access to the revenue estimates, projections, and reports developed by the Board;
(2)    provides a schedule of upcoming Board meetings and agendas for open meetings of the Board;
(3)    provides links to live video streaming of each open meeting of the Board;
(4)    provides a complete and unedited archived video recording of each open meeting for which live video streaming was made available under item (3) of this subsection for a minimum of 5 years after the date of the meeting;
(5)    provides access to reports and projections of the General Fund of the State and the following special funds:
(i)    the Blueprint for Maryland’s Future Fund established under § 5–219 of the Education Article;
(ii)    the Education Trust Fund established under § 9–1A–30 of the State Government Article; and
(iii)    the Transportation Trust Fund established under § 3–216 of the Transportation Article;
(6)    provides access to reports and projections of appropriations for, distributions from, and funds maintained by Program Open Space; and
(7)    provides any other information the Board considers relevant.