MD HB1422

Applies to Executive Branch units receiving at least $2 billion annually in state and federal funding that employ a chief financial officer

Secretary of Budget and Management may grant exemptions to the State pay plan to help recruit and retain chief financial officers

Chief financial officers must hold either a CPA with 5 years of fiscal management experience, a master's degree in business/finance with 3 years of experience, or 10 years of documented fiscal management experience with 5 years in high-level management

CFOs must provide financial information to the Office of the Comptroller at fiscal year close, certify accuracy of entries, and attest that federal fund receivables are properly supported and expected within 60 days

Units choosing not to pursue liquidated damages in procurement contract breaches must document reasons and obtain Board of Public Works approval