Maryland legislation · 2026 Regular Session
Maryland SB247: Biotechnology Investment Incentive Tax Credit - Conversion to Grant Program
Status: Passed one chamber, April 13, 2026
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.
What the bill says
From the chaptered text, April 13, 2026:
SB0247/833327/1 BY: Delegate Fisher AMENDMENTS TO SENATE BILL 247, AS AMENDED (Third Reading File Bill) AMENDMENT NO. 1 On page 1 of the bill, in line 2, before "Biotechnology" insert "Income Tax - Conversion of"; in the same line, strike "- Conversion to Grant Program" and substitute "and Subtraction Modification for Overtime Compensation"; and in line 8, after "Program" insert "and a subtraction modification under the Maryland income tax for overtime compensation". On page 1 of the Ways and Means Committee Amendments (SB0247/453527/1), in line 1 of Amendment No. 1, strike "and Alterations"; and in line 4, before "requiring" insert "allowing a subtraction modification under the Maryland income tax for certain overtime compensation;". On page 2 of the bill, after line 39, insert: "BY repealing and reenacting, without amendments, Article - Tax - General Section 10-208(a) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement) BY adding to Article - Tax - General Section 10-208(dd) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement)". AMENDMENT NO. 2 On page 3 of the Ways and Means Committee Amendments, in line 7 of Amendment No. 2, after "That" insert "the Laws of Maryland read as follows: SB0247/833327/01 Fisher Amendments to SB 247 Article - Tax - General 10-208. (a) In addition to the modification under § 10-207 of this subtitle, …
Sponsors
- (D, 32) · primary sponsor