Md. Code Regs. 24.05.14.13

Current through Register Vol. 51, No. 24, December 2, 2024

Section 24.05.14.13 - Final Approval

A. Approval by the Secretary.

(1) The Director may recommend to the Secretary approval of the assignment and forward to the Secretary a copy of the assignment agreement executed by the business enterprise.

(2) The Secretary may approve the assignment as recommended by the Director, or conditionally upon modification of its terms.

B. Final Approval by the Board of Public Works. The Board, in its discretion, may approve the assignment as recommended by the Secretary, or conditionally upon modification of its terms. Upon recommendation of the assignment by the Secretary and upon any modification of the terms of the assignment as may be required by the Board, the Board shall execute or authorize the Secretary to execute, on behalf of the State, the assignment agreement and any other documents evidencing the assignment.

C. Reporting Requirements. The business enterprise shall send a written report to the Director indicating the actions taken by the foreign offset authority, including the dollar amount of offset credits accepted by the foreign offset authority.

Md. Code Regs. 24.05.14.13