Legislation - SB0247

Title: Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program
Sponsored by: Senator Beidle
Status: In the Senate - Hearing 2/03 at 2:00 p.m.
Analysis

Synopsis

Converting the Biotechnology Investment Incentive Tax Credit to be the Biotechnology Investment Incentive Grant Program in the Department of Commerce; requiring the Department to disburse a grant within a certain time period; allowing a subtraction modification under the Maryland income tax for certain grants received during the taxable year; establishing a Biotechnology Investment Incentive Grant Program Fund; authorizing the Governor to include $10,000,000 in the annual budget bill for the Fund; etc.

Committees

Original:: Budget and Taxation

Details

Cross-filed with: HB0400

Bill File Type: Regular

Effective Date(s): July 1, 2026

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber Senate Calendar Date 1/16/2026 Legislative Date 1/16/2026 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program Proceedings
Chamber Senate Calendar Date 1/22/2026 Legislative Date 1/22/2026 Action Hearing 2/03 at 2:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/16/2026	1/16/2026	First Reading Budget and Taxation
			Text - First - Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program
Senate	1/22/2026	1/22/2026	Hearing 2/03 at 2:00 p.m.

File Code

Subjects

Statutes