The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 394 - Business and Economic Development - Maryland Competitive Advantage Financing Fund.

This bill repeals the sunset on the Maryland Competitive Advantage Financing Fund (MCAFF) and extends the length of initial MCAFF loans for working capital that the Department of Business and Economic Development can provide to small businesses, if the borrower meets certain performance criteria.

House Bill 464, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 394.

Parris N. Glendening