Md. Code, State Finance and Procurement § 12-205
This is the official text of Md. Code, State Finance and Procurement § 12-205, part of Maryland’s Code, State Finance and Procurement — governs the state budget and government contracting.
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§12–205.
Official statutory text
(a) This section does not apply to a lease entered into on or before May 31, 1967, unless the lease is renewed after that date.
(b) An appropriation may not be obligated or spent for the lease of a building or part of a building to be occupied by the State or a unit of the State government for a State purpose at an annual rent that exceeds 15% of the fair market value of the leased premises on the date of the lease.
(b) An appropriation may not be obligated or spent for the lease of a building or part of a building to be occupied by the State or a unit of the State government for a State purpose at an annual rent that exceeds 15% of the fair market value of the leased premises on the date of the lease.
Status: in_force · Read it on the official government site
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