SB0228 (CH0578)

Find a 2018 Bill:

2018 Regular Session



Cybersecurity Incentive Tax Credits

Sponsored by:

Senator Guzzone


Approved by the Governor - Chapter 578

Synopsis:Altering the eligibility criteria for the cybersecurity investment incentive tax credit to provide the credit to a qualified investor in a qualified Maryland cybersecurity company rather than providing the credit to the company; authorizing certain buyers of certain technology to claim a credit against the State income tax for certain costs; providing that the credit may not exceed $2,000,000 in taxable year 2018 and $4,000,000 in taxable year 2019; requiring the Secretary of Commerce to award 25% of the credits to certain buyers; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Guzzone, Eckardt, Edwards, and Serafini
Additional Facts:Bill File Type: Regular
Effective Date(s): June 1, 2018
Bill imposes a mandated appropriation in the annual State Budget Bill
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Appropriations
Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Commerce, Department of
Committees and Commissions -see also- Political Committees
Cybersecurity -see also- Safety
Investments -see also- Securities
Licenses -see also- Alcoholic Bev Lic; Drivers' Licenses
Public Corporations and Instrumentalities
Rules and Regulations
Tax Credits
Telecommunications and Information Technology
Statutes:Article - Chapter of the Acts
Article - Tax - General
(10-733, 1-303, 10-733.1)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions

May 18, 2018 3:56 P.M.