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2018 Regular Session



Promoting ext-Raordinary Innovation in Maryland's Economy (PRIME Act)

Sponsored by:



In the House - Hearing 2/28 at 1:00 p.m.

Synopsis:Establishing the Promoting ext-Raordinary Innovation in Maryland's Economy Program within the Department of Commerce to provide certain Fortune 100 companies tax credits and benefits for up to 10 years; requiring the Department to administer the Program; establishing the application and eligibility requirements for a business entity to qualify for tax credits and benefits under the Program; authorizing a credit against the State income tax for certain income of business entities certified under the Program; etc.
Analysis:Fiscal and Policy Note
All Sponsors:The Speaker (By Request - Administration) and Delegates Angel, Barkley, Barve, Cullison, Dumais, Flanagan, Fraser-Hidalgo, Frick, Gilchrist, Gutierrez, Hixson, Hornberger, Kaiser, Kelly, Kipke, Knotts, Korman, Kramer, Lisanti, Luedtke, A. Miller, Morales, Queen, Reznik, Robinson, and Wilson
Additional Facts:Cross-filed with: SB0877
Bill File Type: Regular
Effective Date(s): June 1, 2018
By Request of the Governor
Ways and Means  View Committee Hearing
Broad Subject(s):Economic and Community Development
Taxes - Income
Taxes - Property
Taxes - Sales and Use
Narrow Subject(s):Assessments and Taxation, Department of
Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Commerce, Department of
Counties -see also- Chartered Counties; Code Counties
Income Tax
Local Government Mandates
Municipal Corporations -see also- Annap; Balt; Hager; OC
Property Tax
Rules and Regulations
Sales and Use Tax
Tax Credits
Work, Labor and Employment -see also- Col Barg; Holiday; etc
Statutes:Article - Economic Development
(6-901 through 6-909)
Article - Tax - General
(10-746, 11-234)
Article - Tax - Property

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May 11, 2018 2:05 P.M.