Procurement - Employee Stock Ownership Plan Preference - Pilot

HB 819 creates a pilot program giving a price preference to bids from businesses using Employee Stock Ownership Plans (ESOPs) for contracts with specific Maryland entities: the Maryland Stadium Authority, University System of Maryland, Morgan State University, St. Mary’s College, and Baltimore City Community College. It requires contractors to disclose if they use an ESOP in their bid and applies to procurements valued under $80 million. This means state entities must consider ESOP-based bids more favorably during contract awards, while still following standard procurement rules. The bill amends Maryland’s procurement code to establish this preference program as a new section (Subtitle 8) under state finance law.