MD Gov Wes Moore Announces Proposed $63-billion FY 2024 Budget

January 21, 2023/Mari Lou

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Two days after taking the helm as Governor of Maryland, Wes Moore has announced his preliminary $63-billion budget plan for FY 2024. The proposed budget includes record investments in education and transportation. It also keeps with his promise of focusing on creating a competitive and equitable economy, ending childhood poverty in Maryland and public safety reform. Click here for the full budget information

Additional information from the Governor’s release:

Governor Moore鈥檚 preliminary FY 2024 Budget Plan outlines investment in Maryland鈥檚 two highest priorities for economic growth, including $500 million to fund the Blueprint for Maryland鈥檚 Future and $500 million dedicated to support strategic priority transportation projects across the state that align with the governor鈥檚 economic competitiveness goals.

Budget plan highlights include:

Historic Investment in Service and Education

  • Record $8.8 billion investment in K-12 education for Maryland public schools; 
  • Record $393 million for Maryland鈥檚 15 local community colleges; $421 million in state support for Maryland鈥檚 historically black colleges and universities, amounting to a 19% increase, and a 12% increase in funding for the University System of Maryland;
  • $18 million across FY 2023 and FY 2024 to fund the new Department of Service and Civic Innovation to enhance and coordinate service opportunities for Marylanders;
  • Record $112 million in funding for the Educational Excellence Awards program, the state鈥檚 largest need-based student aid program, which is projected to serve more than 30,000 students in FY 2024.

Historic Investment to End Childhood Poverty

  • Permanent extension of the enhanced Earned Income Tax Credit (EITC) and expansion of the Child Tax Credit (CTC) through the Family Prosperity Act;
  • Accelerating Maryland鈥檚 minimum wage to $15 per hour through the Fair Wage Act and indexing the wage to inflation.

Investment to Strengthen the State Government Workforce

  • In total, the budget over the two fiscal years includes $1.3 billion for employee salary and benefit enhancements; 
  • $39.4 million in salary adjustments for registered nurses, attorneys, emergency response technicians, and certain educator positions; 
  • Increased base hiring steps for social services workers, parole and probation officers, and DJS resident advisors.

Investment to Ensure a Healthier Maryland 

  • Record $1.4 billion in direct state support for mental health and substance use programs;
  • More than $616 million to fund provider rate increases in the fields of behavioral health, developmental disabilities, Medicaid, and other services;
  • More than $154 million to expand adult dental coverage to Medicaid clients and $17 million to reduce waitlists for programs that allow seniors to age in their communities.

Investment to Promote Public Safety

  • $122 million in aid to local police departments, including $17.5 million dedicated to Baltimore City, and expansion of the Office of the Attorney General and the Office of the Public Defender; 
  • Nearly $69 million in direct local law enforcement grants and $35 million in General Funds for Victims of Crime Act (VOCA) funding;
  • $18 million for the Correctional Officers and Parole and Probation Agents retention incentive bonus program and $8 million and more than 40 additional positions to expand the State Police Gun Center and Firearms Licensing Division.

Investment to Protect the Environment 

  • $422 million for programs funded by the transfer tax that support land preservation and operations and capital projects in State parks, Including $129 million in General Funds to fully fund the transfer tax repayment provision as revised by the Great Maryland Outdoors Act.
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