Business And Economic Development, Department Of
Maryland 2013 Regular Session
Economic Development - Job Creation Incentive Tax Credit [SB-615]
Allowing a credit against the State income tax for wages paid by a qualified business entity for the creation of qualified positions; requiring the Department of Business and Economic Development to provide for the application and authorization of a certain amount of credits each year; providing for the calculation of the credit; establishing a specified Reserve Fund as a special fund; specifying the purpose of the Fund; requiring the Governor to appropriate at least $10,000,000 to the Fund in FY 2015 and FY 2016; etc.
Sponsored by: Sen. Thomas Middleton
Hearing 3/06 At 1:00 P.m. on 03/06/2013
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Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise [SB-498]
Providing a subtraction modification under the Maryland income tax for income related to the qualifying sale of a business enterprise that results in the creation of a specified business enterprise owned and controlled by specified individuals; allowing investors in specified business enterprises to claim a credit against the State income tax for specified investments; providing for the recapture of the subtraction modification and tax credit under specified circumstances; applying the Act to tax years beginning after December 31, 2012; etc.
Sponsored by: Sen. Joanne Benson
Unfavorable Report By Budget And Taxation Withdrawn on 03/07/2013
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Maryland 2013 Regular Session
Income Tax Credit - Security Clearances - Employer Costs [SB-482]
Increasing the amount an individual or corporation may claim as a credit against the State income tax for specified costs incurred to obtain federal security clearances and to construct or renovate specified sensitive compartmented information facilities in the State; authorizing an individual or corporation to claim as a credit against the State income tax specified rental expenses if the individual or corporation is a small business that performs security-based contracting; etc.
Sponsored by: Sen. Roger Manno
Approved By The Governor - Chapter 482 on 05/16/2013
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Maryland 2013 Regular Session
Ex-Offender Business Development Program Study [SB-356]
Requiring the Department of Business and Economic Development, the Department of Labor, Licensing, and Regulation, and the Department of Public Safety and Correctional Services jointly to study and evaluate the feasibility of establishing a business development program for ex-offenders and to identify nongovernmental funding sources for specified purposes; and requiring the Departments jointly to report their findings to specified committees of the General Assembly on or before October 1, 2014.
Sponsored by: Sen. Joanne Benson
Approved By The Governor - Chapter 240 on 05/02/2013
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Maryland 2013 Regular Session
Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund [SB-203]
Defining "small business" as it relates to a refund in connection with a credit against the State income tax for research and development expenses incurred by an individual or corporation; altering to $4,000,000 the maximum amount of research and development credits that the Department of Business and Economic Development may approve in a calendar year; providing that specified unused credits may be claimed as a refund; and applying the Act to Maryland research and development tax credits certified after December 15, 2012.
Sponsored by: Sen. Ulysses Currie
Third Reading Passed (47-0) on 04/08/2013
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Maryland 2013 Regular Session
Income Tax - Business and Economic Development - Film Production Activity Tax Credit [SB-183]
Extending, from July 1, 2014, to June 30, 2016, the termination provisions for the credit allowed against the State income tax for specified film production activities; limiting the annual amount of film production activity tax credit certificates that the Secretary of Business and Economic Development may issue to $25,000,000 for fiscal year 2014 and $7,500,000 for fiscal years 2015 and 2016; etc.
Sponsored by: Sen. Edward Kasemeyer
Approved By The Governor - Chapter 28 on 04/09/2013
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Maryland 2013 Regular Session
Build Maryland Tax Credit Act [SB-138]
Allowing individuals and corporations to claim a credit against the State income tax for specified commercial real estate investment expenses; authorizing the Department of Business and Economic Development to issue a specified amount of credit certificates each fiscal year; providing for the total amount of credit certificates that may be issued; establishing the Infrastructure Investment Income Tax Credit Reserve Fund as a special, nonlapsing fund; etc.
Sponsored by: Sen. Roger Manno
Hearing 2/06 At 1:00 P.m. on 02/06/2013
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Maryland 2013 Regular Session
Prince George's County - Green Business Zones [SB-1022]
Creating the Capitol Heights, Fairmount Heights, Glenarden, and Seat Pleasant green business zones in Prince George's County; requiring the Secretary of Business and Economic Development to designate a not-for-profit entity to establish specified job training, internship, and apprenticeship standards that a green business must meet to receive specified incentives; establishing the benefits available in the zones; establishing specified credits against the State income tax and specified property taxes; etc.
Sponsored by: Sen. Joanne Benson
Hearing 3/20 At 1:00 P.m. (budget And Taxation) on 03/20/2013
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Maryland 2013 Regular Session
Tobacco-Related Disease Products Research, Development, and Commercialization Program [HB-948]
Establishing the Tobacco-Related Disease Products Research, Development, and Commercialization Program and Fund; specifying the purposes of the Program and the Fund; requiring the Maryland Biotechnology Center in the Department of Business and Economic Development to administer the Fund; establishing specified criteria and award amounts for grants awarded under the Program; requiring recipients of Program funds to pay a specified royalty; etc.
Sponsored by: Sen. Susan Lee
Unfavorable Report By Economic Matters on 04/05/2013
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Maryland 2013 Regular Session
Income Tax - Business and Economic Development - Cybersecurity Investment Incentive Tax Credit [HB-803]
Allowing a credit against the State income tax for specified cybersecurity companies under specified circumstances; providing for specified applications to the Department of Business and Economic Development for approval and certification of specified credits; providing for the issuance of specified initial credit certificates by the Department, subject to specified requirements and limitations; etc.
Sponsored by: Rep.
Approved By The Governor - Chapter 390 on 05/02/2013
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Maryland 2013 Regular Session
Income Tax Credit - Maryland Qualified Research and Development Expenses - Credit Amounts [HB-751]
Increasing the total amount of Maryland research and development credits that the Department of Business and Economic Development may approve and certify in a calendar year; applying the Act to tax credits approved and certified after December 15, 2013; etc.
Sponsored by: Rep.
Hearing 2/26 At 1:00 P.m. on 02/26/2013
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Maryland 2013 Regular Session
Ex-Offender Business Development Program Study [HB-698]
Requiring the Department of Business and Economic Development, the Department of Labor, Licensing, and Regulation, and the Department of Public Safety and Correctional Services jointly to study and evaluate the feasibility of establishing a business development program for ex-offenders and to identify nongovernmental funding sources for specified purposes; and requiring the Departments jointly to report their findings to specified committees of the General Assembly on or before October 1, 2014.
Sponsored by: Rep. Joseline Pena-Melnyk
Approved By The Governor - Chapter 241 on 05/02/2013
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Maryland 2013 Regular Session
Invest Maryland Program - Alteration of Program Requirements [HB-681]
Repealing the requirements of the Invest Maryland Program regarding the allocation and use of designated capital by specified venture firms, the Enterprise Fund, the Rural Maryland Council, and the Maryland Small Business Development Financing Authority; repealing the Maryland Venture Fund Authority in the Department of Business and Economic Development; repealing all duties of the Authority; requiring the Department to allocate designated capital in equal amounts to the economic development unit of each county; etc.
Sponsored by: Rep. Kathy Afzali
Hearing 3/12 At 1:00 P.m. on 03/12/2013
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Maryland 2013 Regular Session
Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise [HB-564]
Providing a subtraction modification under the Maryland income tax for income related to the qualifying sale of a business enterprise that results in the creation of a specified business enterprise owned and controlled by specified individuals; allowing investors in specified business enterprises to claim a credit against the State income tax for specified investments; providing for the recapture of the subtraction modification and tax credit under specified circumstances; applying the Act to tax years beginning after December 31, 2012; etc.
Sponsored by: Sen. Nathaniel Oaks
Unfavorable Report By Ways And Means Withdrawn on 03/04/2013
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Maryland 2013 Regular Session
Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund [HB-386]
Defining "small business" as it relates to a refund in connection with a credit against the State income tax for research and development expenses incurred by an individual or corporation; altering the amount of research and development credits that the Department of Business and Economic Development may approve in a calendar year; providing that specified unused credits may be claimed as a refund; and applying the Act to Maryland research and development tax credits certified after December 15, 2012.
Sponsored by: Rep. Kumar Barve
Approved By The Governor - Chapter 109 on 04/09/2013
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Maryland 2013 Regular Session
Economic Development - Arts, Business, and Cultural District - Pennsylvania Avenue Corridor in Baltimore City [HB-203]
Requiring the Secretary of Business and Economic Development to designate an arts, business, and cultural district in a specified area of Baltimore City; providing for the purpose of the arts, business, and cultural district; and authorizing specified tax credits for qualifying individuals located or working within the arts, business, and cultural district.
Sponsored by: Sen. Nathaniel Oaks
Unfavorable Report By Economic Matters on 03/12/2013
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Maryland 2013 Regular Session
Build Maryland Tax Credit Act [HB-1347]
Allowing individuals and corporations to claim a credit against the State income tax for specified commercial real estate investment expenses; authorizing the Department of Business and Economic Development to issue a specified amount of credit certificates each fiscal year; providing for the total amount of credit certificates that may be issued; establishing the Infrastructure Investment Income Tax Credit Reserve Fund as a special, nonlapsing fund; etc.
Sponsored by: Rep. Brian McHale
Hearing 3/15 At 1:00 P.m. on 03/15/2013
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Maryland 2013 Regular Session
Task Force to Improve the Business Climate in Maryland [HB-1326]
Establishing a Task Force to Improve the Business Climate in Maryland; providing for the membership, chair, and staffing of the Task Force; prohibiting a member of the Task Force from receiving compensation, but authorizing the reimbursement of specified expenses; requiring the Task Force to study and make recommendations regarding specified matters; and requiring the Task Force to report its findings and recommendations to the Governor and the General Assembly on or before December 31, 2013.
Sponsored by: Rep. Theodore Sophocleus
Unfavorable Report By Economic Matters Withdrawn on 02/26/2013
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Maryland 2013 Regular Session
Economic Development Programs - Data Collection and Tracking (Maryland Jobs Development Act) [HB-1315]
Requiring the Department of Business and Economic Development to compile data on specified economic development programs administered by the Department; requiring the Department to submit a report on specified economic development programs during the previous fiscal year on or before December 31 each year; requiring the report to contain specified data in specified formats; requiring the Department to implement a process to assist economic development program recipients; etc.
Sponsored by: Sen. Craig Zucker
Approved By The Governor - Chapter 150 on 04/09/2013
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Maryland 2013 Regular Session
State Aid - Business Transparency and Financial Disclosure Act [HB-1231]
Requiring corporations that receive at least $50,000 in specified State subsidies to file a specified disclosure report with the granting body that provides the subsidy; requiring the disclosure report to contain specified information; requiring the disclosure report to be provided on or before December 31 of each year; requiring a granting body to publish a compilation of the disclosure reports on its Web site on or before April 1 of each year; defining terms; etc.
Sponsored by: Rep. Herbert McMillan
Third Reading Passed (139-0) on 04/08/2013