Legislation - SB0247

Title: Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program
Sponsored by: Senators Beidle, Augustine, Guzzone, Hettleman, King, Lewis Young, McCray, Rosapepe, and Zucker
Status: In the Senate - Second Reading Passed with Amendments
Analysis: Fiscal and Policy Note

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 Click to view Recorded Media

Committee Testimony

Witness List

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 Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/11/2026 Legislative Date 2/11/2026 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/12/2026 Legislative Date 2/09/2026 Action Favorable with Amendments {663126/1 Adopted Proceedings 20 Click to view Recorded Media
Chamber Senate Calendar Date 2/12/2026 Legislative Date 2/09/2026 Action Second Reading Passed with Amendments Proceedings 20 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
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.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	2/11/2026	2/11/2026	Favorable with Amendments Report by Budget and Taxation
Senate	2/12/2026	2/09/2026	Favorable with Amendments {663126/1 Adopted	20 Click to view Recorded Media
Senate	2/12/2026	2/09/2026	Second Reading Passed with Amendments	20 Click to view Recorded Media
			Text - Third - Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program

File Code

Subjects

Statutes