May 26, 2005

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, today I have vetoed Senate Bill 148 - Economic Development - Maryland Small Business Development Financing Authority.

This bill raises the maximum amount of loan guarantees from the Contract Financing Fund by the Maryland Small Business Development Financing Authority (MSBDFA). It also alters the maximum amounts of surety guarantees and bonds of MSBDFA under the Small Business Surety Bond Program and alters the scope of businesses that MSBDFA may assist under the Equity Participation Investment Program. Additionally, the bill establishes and alters limitations for investments by MSBDFA under that Program. House Bill 674, 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 148.

Very truly yours,
Robert L. Ehrlich, Jr.