The General Assembly has found and declared that:

1. A. Pay-for-success contracting shifts the risk of performance to the contractor because government payment is made only on achievement of outcomes;
2. 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
3. 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.

Authority: State Finance and Procurement Article, §§13-101, 13-102, and 13-112.1, Annotated Code of Maryland

Effective date: September 18, 2023 (50:18 Md. R. 800)