§ 12–205
Statutes in effect as of October 1, 2026.
Md. Code Ann., State Fin. & Proc. § 12-205 (2026)
Title 12. Organization and Supervision of State Procurement
Subtitle 2. Supervision of Capital Expenditures and Real Property Leases
§ 12–205LinkCopy Citation
(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.