<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".02" citation="COMAR 21.05.15.02" title_num="21" subtitle_num="05" chapter_num="15" heading="Background.">
  <text>The General Assembly has found and declared that:</text>
  <paragraph num="A.">
    <text>Pay-for-success contracting shifts the risk of performance to the contractor because government payment is made only on achievement of outcomes;</text>
  </paragraph>
  <paragraph num="B.">
    <text>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</text>
  </paragraph>
  <paragraph num="C.">
    <text>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.</text>
  </paragraph>
</regulation>