Maryland legislation · 2026 Regular Session
Maryland HB487: Maryland Technology Development Corporation - Investments - Alterations
Status: Signed into law, May 12, 2026
Requiring the Maryland Technology Development Corporation to adopt certain regulations regarding the consideration of remedies for investments in certain businesses that no longer meet the definition of a qualified business for purposes of provisions of law governing the Corporation; authorizing, rather than requiring, the Corporation to divest itself of an interest under certain circumstances; and authorizing the Corporation to pursue certain other remedies under those circumstances.
What the bill says
An act concerning Maryland Technology Development Corporation - Investments - Alterations FOR the purpose of requiring the Maryland Technology Development Corporation to adopt certain regulations regarding the consideration of remedies for investments in certain businesses that no longer meet the definition of qualified business for purposes of provisions of law governing the Corporation; authorizing, rather than requiring, the Corporation to divest itself of an interest under certain circumstances; authorizing the Corporation to pursue certain other remedies under certain circumstances…
From the enrolled text, May 18, 2026:
AN ACT concerning Maryland Technology Development Corporation - Investments - Alterations FOR the purpose of requiring the Maryland Technology Development Corporation to adopt certain regulations regarding the consideration of remedies for investments in certain businesses that no longer meet the definition of qualified business for purposes of provisions of law governing the Corporation; authorizing, rather than requiring, the Corporation to divest itself of an interest under certain circumstances; authorizing the Corporation to pursue certain other remedies under certain circumstances; and generally relating to the Maryland Technology Development Corporation. BY repealing and reenacting, without amendments, Article - Economic Development Section 10-401(a) and (c) Annotated Code of Maryland (2024 Replacement Volume and 2025 Supplement) BY repealing and reenacting, with amendments, Article - Economic Development Section 10-408(a) and 10-470 Annotated Code of Maryland (2024 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Economic Development 10-401. (a) In this subtitle the following words have the meanings indicated. (c) "Corporation" means the Maryland Technology Development Corporation. 10-408. (a) The Corporation shall adopt regulations (2) the responsibilities of the investment committee, INCLUDING A Ch. 380 2026 LAWS OF MARYLAND PROCESS FOR CONSIDERING REMEDIES, INCLUDING DIVESTMENT, FOR INVESTMENTS IN A BUSINESS THAT NO LONGER MEETS THE DEFINITION OF A …