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SB 247

Maryland Senate bill in Session 2026.

Status: enrolled. Latest action: May 15, 2026.

Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program.

Bill ID MD-2026-SB-247
Session 2026
Status enrolled
Committee Budget and Taxation; Ways and Means
Senate enrolled 2026-05-15
Business / Commerce Tax / Budget / Appropriations
Summary

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 90 days of determining that the investment has been made; 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.

Sponsor
Senator Beidle
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-01-16 Introduced Bill introduced
2026-05-15 Status enrolled
2026-05-15 Latest Action In the House - Third Reading Passed with Amendments (111-20)
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