MD SB439

Cost savings from reducing University System of Maryland or Morgan State University employees are excluded from qualifying as "high impact economic development activities"

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

Public higher education officials and employees are no longer authorized to serve as directors, officials, or employees of entities supporting high impact economic development activities

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

The Legislative Auditor gains authority to audit all expenditures and accounts of high impact economic development entities during regular audits