The Honorable Casper R. Taylor, Jr.
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 335 - Baltimore City Charter Amendment - General Powers - Tax Increment Financing.
This bill allows Baltimore City to more easily participate in tax increment financing by permitting the issuance of appropriation risk bonds. The pledge of tax increment revenues for the payment of these bonds is subject to an annual appropriation by the Mayor and City Council. The bill also stipulates that these bonds may not be backed by the full faith and credit or unlimited taxing authority of the city.
Senate Bill 238, which was passed by the General Assembly and signed by me on April 25, 2000, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 335.
Parris N. Glendening