(a) (1) On the recommendation of the Comptroller, the Board shall adopt regulations in accordance with Title 10, Subtitle 1 of the State Government Article covering matters of business administration in the units of the State government.

(2) The regulations adopted under this section may include regulations that establish:

(i) uniform rates of mileage allowance; and

(ii) the terms and renewals of bonds furnished by State officials and employees.

(b) Regulations adopted under this section are binding on all units of the State government affected by the regulations.