Maryland Code, STATE FINANCE AND PROCUREMENT 8-403

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Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 8-403

Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
state: means :

(1) a state, possession, territory, or commonwealth of the United States; or

(2) the District of Columbia. See

(a) The State Treasurer, with the approval of the Board of Public Works, may enter into a capital lease on behalf of one or more units of State government.

(b) Prior to submission of a capital lease to the Board of Public Works, the Treasurer shall submit to the Legislative Policy Committee the total financing request and any supporting information. The Legislative Policy Committee has 45 days within which to review and provide written comments on the financing.

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