Legislation

Title: Biotechnology Investment Tax Credit - Investment in Qualified Companies in Low-Income Areas
Sponsored by: Delegates Buckel, Beitzel, Mautz, and Otto
Status: Approved by the Governor - Chapter 503
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Providing that the amount of a credit allowed against the State income tax is 75%, not to exceed $500,000, of the investment in qualified Maryland biotechnology companies located in Allegany, Dorchester, Garrett, or Somerset counties; applying the Act to initial tax credit certificates issued after June 30, 2016; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Opposite:: Budget and Taxation

Details

Cross-filed with: SB0680

Bill File Type: Regular

Effective Date(s): June 1, 2016

History

Legislation History
Chamber House Calendar Date 2/10/2016 Legislative Date 2/11/2016 Action First Reading Ways and Means Proceedings
Chamber House Calendar Date 2/12/2016 Legislative Date 2/12/2016 Action Hearing 3/08 at 1:00 p.m. Proceedings
Chamber House Calendar Date 4/05/2016 Legislative Date 4/06/2016 Action Favorable Report by Ways and Means Proceedings
Chamber House Calendar Date 4/06/2016 Legislative Date 3/30/2016 Action Favorable Report Adopted Proceedings 62
Chamber House Calendar Date 4/06/2016 Legislative Date 3/30/2016 Action Second Reading Passed Proceedings 62
Chamber House Calendar Date 4/07/2016 Legislative Date 3/31/2016 Action Third Reading Passed (134-5) Proceedings 63
Chamber Senate Calendar Date 4/07/2016 Legislative Date 4/01/2016 Action First Reading Senate Rules Proceedings 61A
Chamber Senate Calendar Date 4/08/2016 Legislative Date 4/08/2016 Action Rereferred to Budget and Taxation Proceedings
Chamber Senate Calendar Date 4/08/2016 Legislative Date 4/09/2016 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 4/09/2016 Legislative Date 4/03/2016 Action Favorable with Amendments {779834/1 Report Adopted Proceedings 63
Chamber Senate Calendar Date 4/09/2016 Legislative Date 4/03/2016 Action Second Reading Passed with Amendments Proceedings 63
Chamber Senate Calendar Date 4/11/2016 Legislative Date 4/04/2016 Action Third Reading Passed with Amendments (46-0) Proceedings 64
Chamber House Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action House Refuses to Concur - Senate Amendments Proceedings 70
Chamber House Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action House Requests Senate Recede Proceedings 70
Chamber House Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action Conference Committee Appointed Proceedings 70
Chamber House Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action Delegates M. Washington, Fennell, and Long Proceedings 70
Chamber Senate Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action Senate Refuses to Recede Proceedings 67
Chamber Senate Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action Conference Committee Appointed Proceedings 67
Chamber Senate Calendar Date 4/11/2016 Legislative Date 4/07/2016 Action Senators Madaleno, Edwards, and Ferguson Proceedings 67
Chamber House Calendar Date 4/11/2016 Legislative Date 4/09/2016 Action House Concur - Senate Amendments Proceedings 72
Chamber House Calendar Date 4/11/2016 Legislative Date 4/09/2016 Action Third Reading Passed (136-4) Proceedings 72
Chamber House Calendar Date 4/11/2016 Legislative Date 4/09/2016 Action Passed Enrolled Proceedings 72
Chamber Post Passage Calendar Date 5/10/2016 Legislative Date 5/10/2016 Action Approved by the Governor - Chapter 503 Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/10/2016	2/11/2016	First Reading Ways and Means
House	2/12/2016	2/12/2016	Hearing 3/08 at 1:00 p.m.
House	4/05/2016	4/06/2016	Favorable Report by Ways and Means
House	4/06/2016	3/30/2016	Favorable Report Adopted	62
House	4/06/2016	3/30/2016	Second Reading Passed	62
House	4/07/2016	3/31/2016	Third Reading Passed (134-5)	63
Senate	4/07/2016	4/01/2016	First Reading Senate Rules	61A
Senate	4/08/2016	4/08/2016	Rereferred to Budget and Taxation
Senate	4/08/2016	4/09/2016	Favorable with Amendments Report by Budget and Taxation
Senate	4/09/2016	4/03/2016	Favorable with Amendments {779834/1 Report Adopted	63
Senate	4/09/2016	4/03/2016	Second Reading Passed with Amendments	63
Senate	4/11/2016	4/04/2016	Third Reading Passed with Amendments (46-0)	64
House	4/11/2016	4/07/2016	House Refuses to Concur - Senate Amendments	70
House	4/11/2016	4/07/2016	House Requests Senate Recede	70
House	4/11/2016	4/07/2016	Conference Committee Appointed	70
House	4/11/2016	4/07/2016	Delegates M. Washington, Fennell, and Long	70
Senate	4/11/2016	4/07/2016	Senate Refuses to Recede	67
Senate	4/11/2016	4/07/2016	Conference Committee Appointed	67
Senate	4/11/2016	4/07/2016	Senators Madaleno, Edwards, and Ferguson	67
House	4/11/2016	4/09/2016	House Concur - Senate Amendments	72
House	4/11/2016	4/09/2016	Third Reading Passed (136-4)	72
House	4/11/2016	4/09/2016	Passed Enrolled	72
Post Passage	5/10/2016	5/10/2016	Approved by the Governor - Chapter 503

Documents

Date Posted	Document Name
4/09/2016	Amendments Senate - (Budget and Taxation) {779834/01 Adopted
2/11/2016	Text - First - Biotechnology Investment Tax Credit - Investment in Qualified Companies in Low-Income Areas
4/06/2016	Text - Third - Biotechnology Investment Tax Credit - Investment in Qualified Companies in Low-Income Areas
4/13/2016	Text - Enrolled - Biotechnology Investment Tax Credit - Investment in Qualified Companies in Low-Income Areas
5/20/2016	Text - Chapter - Biotechnology Investment Tax Credit - Investment in Qualified Companies in Low-Income Areas
4/06/2016	Vote - House - Committee - Ways and Means
4/09/2016	Vote - Senate - Committee - Budget and Taxation
3/31/2016	Vote - House Floor - Third Reading Passed (134-5) - 03/31/16
4/09/2016	Vote - House Floor - Third Reading Passed (136-4) - 04/09/16
4/04/2016	Vote - Senate Floor - Third Reading Passed (46-0) - 04/04/16

File Code

Subjects

Statutes