Code of Maryland Regulations
Title 21 - STATE PROCUREMENT REGULATIONS
Subtitle 05 - PROCUREMENT METHODS AND PROJECT DELIVERY METHODS
Chapter 21.05.15 - Pay-for-Success Contracting
Section 21.05.15.02 - Background
Current through Register Vol. 51, No. 19, September 20, 2024
The General Assembly has found and declared that:
A. Pay-for-success contracting shifts the risk of performance to the contractor because government payment is made only on achievement of outcomes;
B. Social and environmental impact investment is growing dramatically, and investors are seeking ways to finance and execute pay-for-success contracts in the State to expand the success of Chesapeake Bay restoration efforts and achieve other public outcomes; and
C. It is in the best interest of the State to include pay-for-success contracting as a procurement option, particularly for units responsible for land conservation and environmental protection, enhancement, and restoration.
