Budget Reconciliation and Financing Act of 2026

HB 392, the Budget Reconciliation and Financing Act of 2026, revises multiple Maryland state funding formulas and tax provisions to adjust budget allocations. It directly affects community colleges (including Baltimore City Community College and private nonprofit institutions via the Joseph A. Sellinger Program), county governments (requiring reimbursements for health programs and retirement costs), and taxpayers (modifying tax calculations for depreciation). Key changes include altering how state aid is distributed to colleges, requiring counties to cover certain health program costs, mandating online publication of budget books instead of physical copies, and adjusting tax calculations for federal depreciation deductions. The bill makes technical adjustments to existing state codes without creating new programs or major policy shifts.