(a)    (1)    In this section the following words have the meanings indicated.

(2)    “Business entity” means a person that conducts or operates a trade or business in the State.

(3)    “Partnerships Program” means the Higher Education/Business Partnerships Program established under this section.

(b)    (1)    In order to improve the accessibility of businesses to resources of the public senior higher education institutions of the State, the University System of Maryland, Morgan State University, and St. Mary’s College of Maryland, under the direction of the Governor and in consultation with the Department of Economic Competitiveness and Commerce, shall develop and implement a Higher Education/Business Partnerships Program.

(2)    The goals of the Partnerships Program shall be to provide opportunities for businesses to better utilize resources that the public senior higher education institutions of the State have to offer and to foster continuing links between the institutions and the business community throughout the State.

(c)    Under the Partnerships Program, the public senior higher education institutions of the State shall enter into agreements with business entities for cooperative arrangements for any one or more of the following activities:

(1)    Employment of a graduate student in an eligible work–study job by a business entity in a business sector that is related to the student’s field of study and is consistent with the strategic economic development goals established for the State with specific eligibility criteria determined by the institution and the Department of Economic Competitiveness and Commerce;

(2)    Sponsored research administered by the institution; and

(3)    Sponsorship by the business entity of business–specific training developed or conducted by the faculty of the institution.