(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.
Structure Maryland Statutes
Division II - General Procurement Law
Title 12 - Organization and Supervision of State Procurement
Subtitle 2 - Supervision of Capital Expenditures and Real Property Leases
Section 12-201 - Scope of Subtitle
Section 12-202 - Capital Expenditures
Section 12-203 - Expenditures Without Board Approval