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<regulation prefix="Regulation" num=".01" citation="COMAR 21.05.15.01" title_num="21" subtitle_num="05" chapter_num="15" heading="Definitions.">
  <paragraph num="A.">
    <text>In this chapter, the following words have the meaning indicated.</text>
  </paragraph>
  <paragraph num="B.">
    <text>Terms Defined.</text>
    <paragraph num="(1)">
      <text>“Aggregator” means a person that:</text>
      <paragraph num="(a)">
        <text>Provides or contracts for environmental outcomes; or</text>
      </paragraph>
      <paragraph num="(b)">
        <text>Provides or raises capital to finance delivery of environmental outcomes.</text>
      </paragraph>
    </paragraph>
    <paragraph num="(2)">
      <text>“Environmental outcome” means a commodity that is modeled or directly measured as a single, quantifiable, and certified unit of improvement to the environment, including a nutrient or carbon benefit.</text>
    </paragraph>
    <paragraph num="(3)">
      <text>“Environmental outcomes project” means a project designed to secure environmental outcomes.</text>
    </paragraph>
    <paragraph num="(4)">
      <text>“Evaluator” means a person other than an aggregator that determines whether environmental outcomes have been achieved based on defined performance measures.</text>
    </paragraph>
    <paragraph num="(5)">
      <text>“Outcome payment” means the money paid when a pay-for-success contract performance measure is met.</text>
    </paragraph>
    <paragraph num="(6)">
      <text>“Pay-for-success contracting” means a performance-based procurement method through which a unit contracts with an organization to deliver services or commodities in exchange for payment based on the achievement of outcomes.</text>
    </paragraph>
    <paragraph num="(7)">
      <text>“Quantification plan” means a plan in which an aggregator describes:</text>
      <paragraph num="(a)">
        <text>The method that will be used to measure or model environmental outcomes and co-benefits under a pay-for-success contract;</text>
      </paragraph>
      <paragraph num="(b)">
        <text>The compliance monitoring that will occur to ensure that the actions proposed in the pay-for-success contract are taken and maintained over the life of the project;</text>
      </paragraph>
      <paragraph num="(c)">
        <text>Verification steps that will be carried out by the State to confirm model results or accurate measurement of environmental outcomes; and</text>
      </paragraph>
      <paragraph num="(d)">
        <text>The timeline for proposed payments under the pay-for-success contract.</text>
      </paragraph>
    </paragraph>
  </paragraph>
</regulation>