Ch. 206                                    2004 LAWS OF MARYLAND

(II) A BUSINESS ENTITY THAT IS AT LEAST 51% OWNED AND
CONTROLLED BY INDIVIDUALS WHO MEET THE STANDARDS UNDER ITEM (I) OF THIS
PARAGRAPH HAS THE MEANING STATED IN § 14-301 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE.

(2)     WITH RESPECT TO FINANCIAL ASSISTANCE UNDER THIS SUBTITLE
TO AN ENTITY OTHER THAN A LOCAL GOVERNMENT, THE ENTITY SHALL AGREE TO
INCLUDE IN THE AGREEMENT PROVIDING THE FINANCIAL ASSISTANCE A PROVISION
ACCEPTABLE TO THE DEPARTMENT THAT WOULD ENCOURAGE THE PROCUREMENT
FROM MINORITY BUSINESS ENTERPRISES OF GOODS OR SERVICES PURCHASED WITH
THE PROCEEDS FROM THE FINANCIAL ASSISTANCE.

(3)      IN NEGOTIATING THE PROVISION REQUIRED UNDER PARAGRAPH (2)
OF THIS SUBSECTION, THE DEPARTMENT SHALL TAKE INTO ACCOUNT RELEVANT
FACTORS, INCLUDING:

(I)      THE INTENDED USE OF THE PROCEEDS FROM THE FINANCIAL
ASSISTANCE; AND

(II)     THE FEASIBILITY OF OBTAINING THE REQUIRED GOODS OR
SERVICES FROM MINORITY BUSINESS ENTERPRISES.

(D) THE DEPARTMENT MAY REQUIRE THAT A RECIPIENT OF FINANCIAL
ASSISTANCE UNDER THIS SUBTITLE SUBMIT TO THE DEPARTMENT A LIST, OR AN
UPDATED LIST, OF THE MINORITY BUSINESS ENTERPRISES FROM WHICH GOODS OR
SERVICES WERE PROCURED AND THE NATURE AND DOLLAR AMOUNT OF THE GOODS
OR SERVICES.

Article - State Finance and Procurement

7-314.

(Q) (1) (I) IN THIS SUBSECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(II)     "FINANCIAL ASSISTANCE" MEANS A GRANT, LOAN, OR
INVESTMENT PROVIDED UNDER THIS SUBSECTION THAT EXCEEDS $100,000.

(III)   "POLITICAL SUBDIVISION" INCLUDES AN AGENCY OR OTHER
INSTRUMENTALITY OF THE POLITICAL SUBDIVISION.

(2)     THIS SUBSECTION DOES NOT APPLY TO FINANCIAL ASSISTANCE
USED SOLELY FOR THE PURPOSE OF ACQUIRING REAL PROPERTY OR STRUCTURES
ON REAL PROPERTY.

(3)     WITH RESPECT TO FINANCIAL ASSISTANCE UNDER THIS SECTION TO
A POLITICAL SUBDIVISION:

(I) IF THE POLITICAL SUBDIVISION HAS A PROGRAM FOR
PROMOTING PROCUREMENT OPPORTUNITIES AMONG MINORITY BUSINESSES THAT
IS ACCEPTABLE TO THE DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT,

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