Department of Community Resources: 2026 On-Behalf-of-Bonds Program
Calvert County Board of County Commissioners · 5060-5 ·
New Business
What the bill says
On the agenda for Board of County Commissioners — 2026-06-09 — 2026-06-09. Agenda section: NEW BUSINESS
Background
The Internal Revenue Code limits the amount of private activity bonds that may be issued in each State. Annually, the Maryland Department of Commerce issues its Private Activity Bond Initial Allocation, wherein it allocates the Maryland State Ceiling among counties. Any allocation not used by Sept. 30, 2026, automatically reverts to the Secretary’s Reserve on Oct . 1, 2026, unless it is transferred to another issuer or is used to issue private activity bonds. Calvert County Government’s Fiscal Year (FY) 2026, housing bond allocation is $ 4,484,639 with a non-housing bond allocation of $1, 537,591 and a Bonus Non -Housing Allocation of $3 84,398. Calvert County Government has received the annual invitation to participate in the On -Behalf-of-Bonds Local Governments Housing Program . Under this program, the Department of Housing & Community Development pools participants’ housing bond allocations to fund housing programs or to issue mortgage credit certificates on behalf of the local government, with county-based caps removed.
The following is a breakdown of allocation versus actual usage over the past fiscal years:
Calvert County Private Activity Bond Allocation for Housing FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 YTD $3,542,115 $3,552,780 $3,881,724 $3,881,724 $4,360,083 $4,484,639 Housing Loans to Calvert Residents under MD Mortgage Program 79 Loans $24,202,213 74 Loans $24,180,584 44 Loans $13,940,151 80 Loans $27,465,239 69 Loans $24,647,565 74 Loans $26,626,603
Discussion
Section 13-804(a) of the Financial Institutions Article of the Annotated Code of Maryland requires each county to submit a report, approved in writing by its bond counsel, to the Secretary of Commerce with information regarding the amount and types of bonds issued pursuant to its total allocation. To participate in the On-Behalf-of-Bonds program, a local government must transfer its allocation to the state, in writing on or before June 15, 2026.
Extracted from the source document (public record).
Documents
What analysts say
No independent (CBO/CRS-style) analysis exists for county measures. The nearest analog is the sponsoring department's own assessment, from its staff memo — self-reported, not independent:
Fiscal Impact (staff-reported)
This does not have an impact on the county budget.
Conclusion/Recommendation (staff-reported)
Staff recommends that the Board of County Commissioners authorize the Board President to sign Attachment I and the letter to the Maryland Department of Commerce.
Reported by the sponsoring department — Department of Community Resources · Jennifer Moreland, Director · 2026-05-13 in its own memo, not an independent estimate. Source memo.
What politicians say
No linked claims or utterances yet — no one on record has cited this measure to justify a public argument.