Md. Code, State Fin. & Proc. § 14-203

Maryland · Maryland Code, State Finance and Procurement · Status: effective

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Citation: Md. Code, State Fin. & Proc. § 14-203, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1787522
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(a) By regulation, the Special Secretary for the Office of Small, Minority, and Women Business Affairs shall specify the criteria that a business must meet to qualify as a small business. (b) (1) The criteria for qualification as a small business may vary among industries to reflect their particular characteristics. (2) Regulations adopted under this section shall include, for each class of business, the maximum number of employees a business may have to qualify as a small business. (c) The regulations adopted under subsection (a) of this section shall require the qualification of a business as a small business for the exclusive purpose of pursuing out–of–state contracts, if the business has: (1) 250 or fewer employees; or (2) average annual gross receipts of $10,000,000 or less averaged over its most recently completed 3 fiscal years.