Legislation - SB0019

Title: Economic Development – Biotechnology Investment Incentive Tax Credit Program – Alterations
Sponsored by: Chair, Budget and Taxation Committee (By Request - Departmental - Commerce)
Status: In the Senate - Hearing 1/27 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Altering eligibility for the Biotechnology Investment Incentive Tax Credit Program by altering the definition of "qualified Maryland biotechnology company"; stating the purpose of the program; altering the calculation of the tax credit under the program; altering the maximum percentage of the Maryland Biotechnology Investment Tax Credit Reserve Fund that a single qualified Maryland biotechnology company may receive in a fiscal year; applying the Act to initial credit certificates issued after June 30, 2021; etc.

Committees

Original:: Budget and Taxation

Details

Bill File Type: Pre-Filed

Effective Date(s): June 1, 2021

By Request of the Governor

History

Legislation History
Chamber Senate Calendar Date 10/22/2020 Legislative Date 10/22/2020 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/13/2021 Legislative Date 1/13/2021 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Economic Development – Biotechnology Investment Incentive Tax Credit Program – Alterations Proceedings
Chamber Senate Calendar Date 1/11/2021 Legislative Date 1/11/2021 Action Hearing 1/27 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	10/22/2020	10/22/2020	Pre-filed
Senate	1/13/2021	1/13/2021	First Reading Budget and Taxation
			Text - First - Economic Development – Biotechnology Investment Incentive Tax Credit Program – Alterations
Senate	1/11/2021	1/11/2021	Hearing 1/27 at 1:00 p.m.

File Code

Subjects

Statutes