MD HB1054

Cost savings from reducing University System of Maryland employees would no longer qualify as a "high impact economic development activity" under the revised definition

Board of Regents annual reports on high impact economic development activities must now include: the amount of State or University funds used on each activity, the net benefit of each activity, and whether the Board believes each activity is in the State's best interest

Officials or employees of public higher education institutions would no longer be permitted to serve as directors, officials, or employees of entities supporting high impact economic development activities

High impact economic development activity entities would become subject to State procurement law (Division II of the State Finance and Procurement Article)

Effective date: July 1, 2025