(2) (I) SUBJECT TO REVIEW AND APPROVAL BY THE BOARD OF PUBLIC
WORKS AND THE ADMINISTRATIVE, EXECUTIVE, AND LEGISLATIVE REVIEW
COMMITTEE OF THE GENERAL ASSEMBLY, THE BOARD OF REGENTS SHALL DEVELOP
POLICIES AND PROCEDURES GOVERNING PROCUREMENTS BY THE UNIVERSITY.

(II) THE POLICIES AND PROCEDURES DEVELOPED UNDER
SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL PROMOTE THE PURPOSES OF THE
STATE PROCUREMENT LAW AS SET FORTH IN § 11-201 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE,

(B) THE BOARD OF REGENTS SHALL DEVELOP AN INFORMATION
TECHNOLOGY PLAN FOR THE UNIVERSITY SYSTEM OF MARYLAND THAT INCLUDES
INFORMATION TECHNOLOGY POLICIES AND STANDARDS, INCLUDING POLICIES AND
STANDARDS FOR INFORMATION MANAGEMENT AND TELECOMMUNICATION
SYSTEMS, THAT ARE FUNCTIONALLY COMPATIBLE WITH THE STATE INFORMATION
TECHNOLOGY PLAN ESTABLISHED UNDER TITLE 3, SUBTITLE 4 OF THE STATE
FINANCE AND PROCUREMENT ARTICLE.

12-113.

(A) CONSISTENT WITH § 15-107 OF THIS ARTICLE AND ANY OTHER
APPLICABLE LAW, THE BOARD OF REGENTS MAY ESTABLISH, INVEST IN, FINANCE,
AND OPERATE BUSINESSES OR BUSINESS ENTITIES WHEN THE BOARD FINDS THAT
DOING SO WOULD FURTHER ONE OR MORE GOALS OF THE UNIVERSITY AND IS
RELATED TO THE MISSION OF THE UNIVERSITY.

(B) (1) A BUSINESS ENTITY ESTABLISHED, INVESTED IN, FINANCED, OR
OPERATED IN ACCORDANCE WITH THIS SUBSECTION MAY NOT BE CONSIDERED AN
AGENCY OR INSTRUMENTALITY OF THE STATE OR A UNIT OF THE EXECUTIVE
BRANCH FOR ANY PURPOSE; AND

(2) A FINANCIAL OBLIGATION OR LIABILITY OF A BUSINESS ENTITY
ESTABLISHED, INVESTED IN, FINANCED, OR OPERATED IN ACCORDANCE WITH THIS
SUBSECTION MAY NOT BE A DEBT OR OBLIGATION OF THE STATE OR UNIVERSITY.

(C) THE BOARD OF REGENTS SHALL SUBMIT TO THE GOVERNOR, AND IN
ACCORDANCE WITH § 2-1246 OF THE STATE GOVERNMENT ARTICLE, THE GENERAL
ASSEMBLY, AN ANNUAL REPORT ON:

(1) THE BUSINESS ENTITIES ESTABLISHED IN ACCORDANCE WITH THIS

SECTION;

(2) FUNDS INVESTED IN, AND FINANCING PROVIDED TO, BUSINESS
ENTITIES ESTABLISHED IN ACCORDANCE WITH THIS SECTION;

(3) OWNERSHIP INTERESTS IN ANY BUSINESS ENTITIES ESTABLISHED
IN ACCORDANCE WITH THIS SECTION; AND

(4) THE CURRENT STATUS OF THE BUSINESS ENTITIES.