In this section the following words have the meanings indicated. “Computer-based instructional technology” has the meaning stated in § 12-101 of this article. “Technology” has the meaning stated in § 12-101 of this article. Except as provided in § 11-203(e) of the State Finance and Procurement Article, the University is exempt from Division II of the State Finance and Procurement Article. Subject to review and approval by the Board of Public Works and the Administrative, Executive, and Legislative Review Committee of the General Assembly, the Board of Regents shall develop policies and procedures governing procurements by the University. The policies and procedures developed under subparagraph (i) of this paragraph shall promote the purposes of the State procurement law as set forth in § 11-201 of the State Finance and Procurement Article. The Board of Regents shall develop an information technology plan for the University that includes information technology policies and standards, including policies and standards for information management and telecommunication systems, that are functionally compatible with the State Information Technology Plan established under Title 3, Subtitle 4 of the State Finance and Procurement Article. By January 1, 2007, the Board of Regents shall develop a nonvisual access clause for use in the procurement of computer-based instructional technology. The nonvisual access clause developed under subsection (d) of this section shall be consistent with the standards developed by the Department of Budget and Management in accordance with the provisions of § 3-412 of the State Finance and Procurement Article.