Key Takeaways
- • Maryland Governor Wes Moore signed the FY 2027 state budget into law in Annapolis, a $71 billion spending plan that his office and WBAL-TV report is balanced without new taxes or fees.
- • According to coverage of the plan, the budget closes a $1.5 billion gap through spending cuts and fund shifts, and General Fund expenditures are smaller than FY 2026.
- • The enacted budget keeps the Rainy Day Fund at 8% and raises the state's Fund Balance to $250 million, per the governor's office.
- • Key allocations include $10.1 billion for K-12 education (a more than $370 million increase), $306 million for clean energy programs, and $124.1 million in police aid.
- • The budget includes $20 million toward IonQ's new College Park headquarters, part of a multi-year $50 million commitment tied to Maryland's quantum initiative.
Summary
Maryland Governor Wes Moore signed the Fiscal Year 2027 state budget into law in Annapolis, according to the governor's office and WBAL-TV, which described a $71 billion spending plan balanced without raising taxes or fees. Coverage of the budget, which passed with bipartisan support from the Maryland General Assembly, reported that it closes a $1.5 billion budget gap through cuts and fund shifts. Senate President Bill Ferguson and House Speaker Joseline Peña-Melnyk both cited bipartisan cooperation in the budget's passage.
The governor's office said the budget maintains the state's Rainy Day Fund at 8%, increases the Fund Balance to $250 million, and sets General Fund expenditures below the FY 2026 level. Energy funding includes a historic $306 million for renewable and clean energy programs administered by the Maryland Energy Administration, drawn from the Strategic Energy Investment Fund, and $100 million in utility fee relief.
On education, the administration's $10.1 billion investment reflects an increase of more than $370 million over FY 2026. The plan includes $480.5 million in state school construction funding, $572 million for Community Schools, and $10.9 million for literacy and math coaches. Public safety funding includes a record $124.1 million for the State Aid for Police Protection Program.
The budget also allocates $20 million toward IonQ's new headquarters in College Park, part of a multi-year $50 million commitment, along with $22 million for the University of Maryland Enterprise Corporation and $12 million for Capital of Quantum initiatives in Prince George's County. The governor's office said the state has secured well over $500 million in quantum investments since launching the initiative.
The governor's office said the budget maintains the state's Rainy Day Fund at 8%, increases the Fund Balance to $250 million, and sets General Fund expenditures below the FY 2026 level. Energy funding includes a historic $306 million for renewable and clean energy programs administered by the Maryland Energy Administration, drawn from the Strategic Energy Investment Fund, and $100 million in utility fee relief.
On education, the administration's $10.1 billion investment reflects an increase of more than $370 million over FY 2026. The plan includes $480.5 million in state school construction funding, $572 million for Community Schools, and $10.9 million for literacy and math coaches. Public safety funding includes a record $124.1 million for the State Aid for Police Protection Program.
The budget also allocates $20 million toward IonQ's new headquarters in College Park, part of a multi-year $50 million commitment, along with $22 million for the University of Maryland Enterprise Corporation and $12 million for Capital of Quantum initiatives in Prince George's County. The governor's office said the state has secured well over $500 million in quantum investments since launching the initiative.
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