This bill allows state officers and employees who handle public funds to be covered by insurance policies instead of the traditional surety bonds that were previously required. It transfers the responsibility for approving these financial protections from the Maryland State Employees Surety Bond Committee to the State Treasurer. The legislation repeals the specific laws that established the old committee and its related procedures while updating various state codes to reflect these new options.
This bill updates Maryland laws regarding abandoned or sunken vessels and increases funding for maritime heritage preservation. It requires boat owners to provide emergency contact information when applying for vessel numbers and mandates that the Department of Natural Resources notify owners before seizing abandoned boats. Additionally, the bill establishes a voluntary turn-in program for these vessels and allocates at least $250,000 annually from the Waterway Improvement Fund to a nonprofit organization that distributes grants for preserving Maryland's maritime history.