PARRIS N. GLENDENING, Governor                             S.B. 460

(J) (1) THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT
SHALL SUBMIT ANNUALLY A SET OF MINIMUM PERFORMANCE REQUIREMENTS BY
JULY 1 OF EACH YEAR TO THE LEGISLATIVE POLICY COMMITTEE FOR ITS REVIEW
AND APPROVAL.

(2) THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT
MAY MODIFY THESE PERFORMANCE REQUIREMENTS AS NEEDED UPON APPROVAL
FROM THE LEGISLATIVE POLICY COMMITTEE:

(J) (1) THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT SHALL
SUBMIT TO THE LEGISLATIVE POLICY COMMITTEE BY JULY 1 OF EACH YEAR A LIST OF
GUIDELINES FOR THE KINDS OF PERFORMANCE REQUIREMENTS THAT MAY BE
NEGOTIATED WITH A LOAN OR GRANT APPLICANT.

(2) THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT MAY
MODIFY THESE GUIDELINES AS NEEDED, UPON APPROVAL OF THE LEGISLATIVE POLICY
COMMITTEE.

(3) AN EXECUTIVE AGENCY MAY DEPART FROM THESE GUIDELINES, AS
NEEDED, UPON APPROVAL OF THE LEGISLATIVE POLICY COMMITTEE.

(i) (K) Subject to the provisions of this subtitle, funds transferred from the
Economic Development Opportunities Program Fund, to an executive agency, may be
loaned or granted for:

(1)     assisting in the retention or expansion of existing private sector
enterprises, public or private institutions, or federal research and development institutes;

(2)     assisting in the establishment or attraction of private sector enterprises,
public or private institutions, or federal research and development institutes new to this
State; or

(3)     providing assistance where existing State or local programs lack
sufficient resources or are constrained by timing or program design from being utilized.

(j) (L) Upon request for approval for the transfer of funds by budget
amendment from the Fund, the Governor shall provide, subject to § 2-1312 of the State
Government Article, to the Legislative Policy Committee:

(1) a detailed description of:

(i) the proposed use of the funds;

(ii) the manner in which the proposed use meets the criteria as set
forth in this section;

(iii) the degree to which the proposed use of funds will advance
statewide or local economic development strategies and objectives; and

(iv) the degree to which available sources of federal, State, local, and
private financial support has been sought and will be utilized;

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