Md. Code Regs. 21.05.15.02

Current through Register Vol. 51, No. 21, October 18, 2024

Section 21.05.15.02 - Background

The General Assembly has found and declared that:

A. Pay-for-success contracting shifts the risk of performance to the contractor because government payment is made only on achievement of outcomes;

B. Social and environmental impact investment is growing dramatically, and investors are seeking ways to finance and execute pay-for-success contracts in the State to expand the success of Chesapeake Bay restoration efforts and achieve other public outcomes; and

C. It is in the best interest of the State to include pay-for-success contracting as a procurement option, particularly for units responsible for land conservation and environmental protection, enhancement, and restoration.

Md. Code Regs. 21.05.15.02

Regulation .02 adopted effective 50:18 Md. R. 800, eff. 9/18/2023