Md. Code Regs. 24.01.07.06

Current through Register Vol. 51, No. 22, November 1, 2024

Section 24.01.07.06 - Audit; Cancellation or Repayment of State Benefit

A. An entity shall keep complete and accurate records supporting any information or statement provided to an agency by the entity in the Corporate Diversity Addendum or the affidavit described in Regulation .03B of this chapter for a period of 5 years from the date of submission.

B. A State agency that has provided a State benefit to an entity subject to this chapter may at any time before or up to 5 years after the provision of the State benefit require any information provided to the agency by the entity in the Corporate Diversity Addendum be audited by the State.

C. If the State agency that has provided a State benefit to an entity subject to this chapter determines that any representation made by the entity in its Corporate Diversity Addendum or the affidavit described in Regulation .03B of this chapter in connection with its application for the State benefit is false when made, the agency may:

(1) Cancel the award of the State benefit, in whole or in part as the agency may determine;

(2) Require repayment of any capital grant or recapture of any tax credit;

(3) Initiate a State debarment proceeding against an entity that has received a State contract; and

(4) Seek any other remedy available at law.

Md. Code Regs. 24.01.07.06

Regulation .06 adopted effective 49:18 Md. R.820, eff. 9/5/2022