Subcommittee flags lottery bond risks as Pimlico renovation moves forward
Analysts told the Education and Economic Development Subcommittee that Maryland Stadium Authority projects rely heavily on lottery bond proceeds and coverage ratios have tightened; MSA defended the Pimlico/Laurel plan and witnesses urged preserving the major events fund.
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The Education and Economic Development Subcommittee heard detailed budget testimony March 30 on the Maryland Stadium Authority’s FY27 allowance, with analysts and the authority trading views about reliance on lottery bond proceeds and the fiscal risks of ongoing projects including the Pimlico renovation.
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