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 House - Hearing 3/25 at 1:30 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 that the purpose of the program is to foster the growth of Maryland's biotechnology industry; altering the maximum percentage, from 15% to 10%, of the Maryland Biotechnology Investment Tax Credit Reserve Fund that a 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 Click to view Recorded Media

Opposite:: Ways and Means

Committee Testimony

Witness List

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 Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/10/2021 Legislative Date 2/10/2021 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/10/2021 Legislative Date 2/10/2021 Action Favorable with Amendments {699830/1 Adopted Proceedings 10 Click to view Recorded Media
Chamber Senate Calendar Date 2/10/2021 Legislative Date 2/10/2021 Action Second Reading Passed with Amendments Proceedings 10 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Economic Development – Biotechnology Investment Incentive Tax Credit Program – Alterations Proceedings
Chamber Senate Calendar Date 2/16/2021 Legislative Date 2/11/2021 Action Third Reading Passed (46-0) Proceedings 12 Click to view Recorded Media
Chamber House Calendar Date 2/18/2021 Legislative Date 2/18/2021 Action Referred Ways and Means Proceedings 13 Click to view Recorded Media
Chamber House Calendar Date 3/01/2021 Legislative Date 3/01/2021 Action Hearing 3/25 at 1:30 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
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.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	2/10/2021	2/10/2021	Favorable with Amendments Report by Budget and Taxation
Senate	2/10/2021	2/10/2021	Favorable with Amendments {699830/1 Adopted	10 Click to view Recorded Media
Senate	2/10/2021	2/10/2021	Second Reading Passed with Amendments	10 Click to view Recorded Media
			Text - Third - Economic Development – Biotechnology Investment Incentive Tax Credit Program – Alterations
Senate	2/16/2021	2/11/2021	Third Reading Passed (46-0)	12 Click to view Recorded Media
House	2/18/2021	2/18/2021	Referred Ways and Means	13 Click to view Recorded Media
House	3/01/2021	3/01/2021	Hearing 3/25 at 1:30 p.m.

File Code

Subjects

Statutes