Legislation

Title: Economic Development - Biotechnology Investment Incentive Tax Credit Program - Alterations and Study
Sponsored by: Chair, Budget and Taxation Committee (By Request - Departmental - Commerce)
Status: Approved by the Governor - Chapter 112
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Altering eligibility for the Biotechnology Investment Incentive Tax Credit Program by altering the definitions of "qualified investor" and "qualified Maryland biotechnology company"; providing that the purpose of the program is to foster the growth of Maryland's biotechnology industry; prohibiting the Department of Commerce from issuing any tax credits to certain companies after June 30, 2028; requiring the Department, in consultation with certain experts, to conduct certain studies and report to the General Assembly by December 1, 2021; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

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 Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/05/2021 Legislative Date 4/05/2021 Action Favorable with Amendments Report by Ways and Means Proceedings
Chamber House Calendar Date 4/05/2021 Legislative Date 3/20/2021 Action Favorable with Amendments {875366/1 Adopted Proceedings 39 Click to view Recorded Media
Chamber House Calendar Date 4/05/2021 Legislative Date 3/20/2021 Action Second Reading Passed with Amendments Proceedings 39 Click to view Recorded Media
Chamber House Calendar Date 4/06/2021 Legislative Date 3/21/2021 Action Third Reading Passed (97-38) Proceedings 40 Click to view Recorded Media
Chamber Senate Calendar Date 4/08/2021 Legislative Date 3/17/2021 Action Senate Concurs House Amendments Proceedings 42AClick to view Recorded Media
Chamber Senate Calendar Date 4/08/2021 Legislative Date 3/17/2021 Action Third Reading Passed (44-0) Proceedings 42AClick to view Recorded Media
Chamber Senate Calendar Date 4/08/2021 Legislative Date 3/17/2021 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - Economic Development - Biotechnology Investment Incentive Tax Credit Program - Alterations and Study Proceedings
Chamber Post Passage Calendar Date 4/13/2021 Legislative Date 4/13/2021 Action Approved by the Governor - Chapter 112 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Economic Development - Biotechnology Investment Incentive Tax Credit Program - Alterations and Study 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.
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	4/05/2021	4/05/2021	Favorable with Amendments Report by Ways and Means
House	4/05/2021	3/20/2021	Favorable with Amendments {875366/1 Adopted	39 Click to view Recorded Media
House	4/05/2021	3/20/2021	Second Reading Passed with Amendments	39 Click to view Recorded Media
House	4/06/2021	3/21/2021	Third Reading Passed (97-38)	40 Click to view Recorded Media
Senate	4/08/2021	3/17/2021	Senate Concurs House Amendments	42AClick to view Recorded Media
Senate	4/08/2021	3/17/2021	Third Reading Passed (44-0)	42AClick to view Recorded Media
Senate	4/08/2021	3/17/2021	Passed Enrolled
			Text - Enrolled - Economic Development - Biotechnology Investment Incentive Tax Credit Program - Alterations and Study
Post Passage	4/13/2021	4/13/2021	Approved by the Governor - Chapter 112
			Text - Chapter - Economic Development - Biotechnology Investment Incentive Tax Credit Program - Alterations and Study

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