LAWRENCE J. HOGAN, JR., Governor Ch. 116
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Chapter 116
(Senate Bill 191)
AN ACT concerning
Maryland Department of Commerce – Transparency and Efficiency in
Reporting Act Requirements and Purple Line Construction Zone Grant Program
– Alterations
FOR the purpose of altering the definition of “economic development program” for purposes
of certain data collection, tracking, and reporting requirements of the Maryland Jobs
Development Act to include certain tax credit programs; altering certain information
that the Department of Commerce is required to report; altering certain information
that the Department is required to make available on the Department’s website
relating to certain economic development programs; altering certain reporting
requirements relating to certain economic development programs and income tax
credits administered by the Department; altering the purpose of the Purple Line
Construction Zone Grant Program; requiring the Department of Commerce to
distribute certain funds under the Grant Program in a certain manner; requiring a
county that receives funds under the Program to implement a process for awarding
grants to certain small businesses; and generally relating to the Maryland Jobs
Development Act and economic development programs administered by the
Department.
BY repealing and reenacting, with amendments,
Article – Economic Development
Section 2.5–109, 3–404(e), 5–419, 5–709, 5–1307, 5–1409, 5–1501(e), 6–307(a), and
6–809 6–809, and 16–102
Annotated Code of Maryland
(2018 Replacement Volume and 2021 Supplement)
BY repealing and reenacting, without amendments,
Article – Economic Development
Section 3–402, 5–406(a), 5–1501(a), 5–1602(a), and 6–802 6–802, and 16–101
Annotated Code of Maryland
(2018 Replacement Volume and 2021 Supplement)
BY repealing
Article – Economic Development
Section 5–1501(j) and 5–1606
Annotated Code of Maryland
(2018 Replacement Volume and 2021 Supplement)
BY adding to
Article – Economic Development
Section 5–1501(j) and 5–1606 Ch. 116 2022 LAWS OF MARYLAND
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Annotated Code of Maryland
(2018 Replacement Volume and 2021 Supplement)
BY repealing and reenacting, without amendments,
Article – Tax – General
Section 10–721(b)(1), 10–733(b)(1), and 10–733.1(b)(1)
Annotated Code of Maryland
(2016 Replacement Volume and 2021 Supplement)
BY repealing and reenacting, with amendments,
Article – Tax – General
Section 10–721(g), 10–725(h), 10–730(e), 10–733(h), and 10–733.1(f)
Annotated Code of Maryland
(2016 Replacement Volume and 2021 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Economic Development
2.5–109.
(a) In this section, “economic development program” means:
(1) the Economic Development Op portunities Program Account
established under § 7–314 of the State Finance and Procurement Article;
(2) the Partnership for Workforce Quality Program established under Title
3, Subtitle 4 of this article;
(3) each of the economic development and financial assistance programs
established under Title 5 of this article; and
(4) each of the tax credit programs administered by the Department,
including:
(i) the Film Production Activity Tax Credit;
(ii) the Job Creation Tax Credit;
(iii) the One Maryland Economic Development Tax Credit;
(iv) the Biotechnology Investment Incentive Tax Credit;
(v) the Research and Development Tax Credit;
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(vi) the Security Clearance Administrative Expenses and
Construction and Equipment Costs Tax Credit;
(vii) the Innovation Investment Incentive Tax Credit;
(viii) the More Jobs for Marylanders Tax Credit;
(ix) the Purchase of Cybersecurity Technology or Service Tax Credit;
(x) the Opportunity Zone Enhancement Tax Credit; [and]
(xi) the Small Business Relief Tax Credit; AND
(XII) ANY OTHER TAX CREDIT PROGRAM THAT IS ADMI NISTERED
BY THE DEPARTMENT UNDER :
1. TITLE 6 OF THIS ARTICLE; OR
2. TITLE 10, SUBTITLE 7 OF THE TAX – GENERAL
ARTICLE.
(b) The Department shall compile data in accordance with this section on the
economic development programs administered by the Department.
(c) On or before December 31, 2013, and each year thereafter, the Department
shall submit a report on the economic development programs that were administered by
the Department during the previous fiscal year to the Governor and, in accordance with §
2–1257 of the State Government Article, the General Assembly.
(d) (1) The report required under this section shall include the following data,
if applicable, on the economic development programs administered by the Department:
(i) the number of jobs created;
(ii) the number of jobs retained;
(iii) the estimated amount of State revenue generated;
(iv) the status of any special fund;
(v) for minority business enterprises, as defined in § 14–301 of the
State Finance and Procurement Article:
1. the number of enterprises that received assistance from
each economic development program; and
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2. the percentage of assistance distributed to each minority
business enterprise from each economic development program compared to the total
assistance distributed from each economic development program; [and]
(VI) A STATEMENT INDICATI NG WHETHER , DURING THE
CURRENT REPORTING YE AR, THE DEPARTMENT REDUCED , REVOKED, OR
RECAPTURED A TAX CRE DIT OR ANY AMOUNT OF FINANCIAL ASSISTANCE FROM A
RECIPIENT AND , IF APPLICABLE:
1. THE TOTAL AMOUNT REC OVERED AS A RESULT O F THE
REDUCTION, REVOCATION , OR RECAPTURE , AND ANY PENALTY ASSE SSED; AND
2. A JUSTIFICATION FOR THE REDUCTION , REVOCATION ,
OR RECAPTURE ; AND
[(vi)] (VII) any additional information required by the Department
through regulations.
(2) The report required under this section shall include data in the
aggregate and disaggregated by:
(i) each economic development program; and
(ii) each recipient of assistance from an economic development
program.
(3) The report required under this section shall include any additional
information required under the law authorizing the economic development program.
(e) [On or before December 31, 2020, in addition to the report required under
subsection (c) of this section, the] THE Department shall establish, maintain, and update
annually a publicly available database on the Department’s website that:
(1) provides information that is downloadable by the public in a common
machine–readable format; and
(2) includes, AS APPLICABL E[:
(i) the name of each business entity that is a recipient of an
economic development program;
(ii) the total amount of tax credits certified, financial assistance
paid, and loans forgiven or uncollectible by the Department, reported in the aggregate for
each economic development program and FOR each recipient of the tax credit or financial
assistance; LAWRENCE J. HOGAN, JR., Governor Ch. 116
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(iii) 1. for any tax credit or financial assistance that is certified
or paid by the Department to incentivize job creation or retention:
A. the number of jobs each recipient of the credit or
assistance claimed it would create or retain in its application for the credit or assistance;
B. (III) the number of jobs actually created or retained by
each recipient; and
C. (IV) the average salary of the jobs created or retained by
each recipient; and
2. for any tax credit or amount of financial assistance that is
certified or awarded by the Department to incentivize activities other than job creation or
retention, a description of how the credit or assistance benefits the State; and
(V) THE AMOUNT OF CAPITA L INVESTMENT MADE OR PROJECT
COSTS INCURRED BY EA CH RECIPIENT; AND
(iv) (VI) a statement indicating whether, during the current
reporting year, the Department reduced, revoked, or recaptured a tax credit or any amount
of financial assistance from a recipient and, if applicable:
1. the total amount recovered as a result of the reduction,
revocation, or recapture, and any penalty assessed; and
2. a justification for the reduction, revocation, or recapture]
DATA REPORTED IN CON NECTION WITH THE ECO NOMIC DEVELOPMENT PR OGRAMS
ADMINISTERED BY THE DEPARTMENT AS REQUIRE D UNDER THE PROVISIO NS OF
THIS SECTION.
(f) If a recipient of assistance from an economic development program is not
meeting the requirements of the economic development program, the Department shall
implement a process to assist the recipient in meeting the program requirements.
3–402.
There is a Partnership for Workforce Quality Program in the Department.
3–404.
(e) [(1)] In accordance with § 2.5–109 of this article, the Secretary shall submit
a report on the operation and performance of the Program.
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[(2) In addition to the requirements under § 2.5–109(c) of this article, the
report required under this subsection shall be submitted to:
(i) the Governor’s Workforce Development Board; and
(ii) the Maryland Economic Development Commission.]
5–406.
(a) There is a Maryland Industrial Development Financing Authority in the
Department.
5–419.
[(a)] In accordance with § 2.5–109 of this article, the Authority shall submit a
report on its condition and operations.
[(b) In addition to the requirements under § 2.5–109(c) of this article, the report
required under this section shall be submitted to the chair of the Joint Audit and
Evaluation Committee.]
5–709.
[(a) The Department and the Comptroller jointly shall assess each year the
effectiveness of the tax credits provided to business entities in enterprise zones and focus
areas in enterprise zones, including:
(1) the number and amounts of credits granted each year; and
(2) the success of the tax credits in attracting and retaining business
entities in enterprise zones and focus areas.
(b) On or before December 15 of each year, the Department and the Comptroller
shall submit to the Governor and, in accordance with § 2–1257 of the State Government
Article, the General Assembly a report outlining the findings of the Department and the
Comptroller and any other information of value in determining] IN ACCORDANCE WITH §
2.5–109 OF THIS ARTICLE , THE DEPARTMENT SHALL SUBM IT A REPORT ON the
effectiveness of the tax credits provided under § 5–707(b) of this subtitle.
5–1307.
(a) On or before October 15 of each year, a political subdivision with a BRAC
Revitalization and Incentive Zone designation shall submit a report to the Department that
assesses the effectiveness of the benefits provided to the BRAC Revitalization and Incentive LAWRENCE J. HOGAN, JR., Governor Ch. 116
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Zone in attracting and retaining businesses within the BRAC Revitalization and Incentive
Zone.
(b) [On or before December 15 of each year] IN ACCORDANCE WITH § 2.5–109
OF THIS ARTICLE , the Department shall[:
(1) assess the effectiveness of the benefits provided to the BRAC
Revitalization and Incentive Zones in attracting and retaining businesses within BRAC
Revitalization and Incentive Zones; and
(2) submit to the Governor and, in accordance with § 2–1257 of the State
Government Article, the General Assembly a report outlining the findings of the
Department and any other information of value in determining] SUBMIT A REPORT ON
the effectiveness of the benefits under this subtitle.
5–1409.
[(a) The Department and the Comptroller jointly shall assess each year the
effectiveness of the tax incentives provided to business entities in RISE zones, including:
(1) the number and amounts of tax incentives granted each year; and
(2) the success of the tax incentives in attracting and retaining business
entities in RISE zones.
(b) On or before December 15 of each year, the Department and the Comptroller
shall submit to the Governor and, in accordance with § 2–1257 of the State Government
Article, the Senate Budget and Taxation Committee and the House Committee on Ways
and Means a report outlining the findings of the Department and the Comptroller and any
other information of value in determining] IN ACCORDANCE WITH § 2.5–109 OF THIS
ARTICLE, THE DEPARTMENT SHALL SUBM IT A REPORT ON the effectiveness of the tax
incentives authorized under this subtitle.
[(c) On or before December 15 each year, the Department shall submit to the
Governor and, in accordance with § 2–1257 of the State Government Article, the Senate
Budget and Taxation Committee and the House Committee on Ways and Means a report
detailing with respect to each RISE zone in which a rental assistance program has been
established:
(1) the entity administering the rental assistance program;
(2) the amount of funds received during the previous fiscal year;
(3) the cumulative amount of funds received; and
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(4) the amount of funds remaining unspent at the end of the previous fiscal
year.]
5–1501.
(a) There is a Small, Minority, and Women–Owned Businesses Account under the
authority of the Department.
(e) Fund managers receiving grants under this section shall:
(1) keep proper records of funds and accounts;
(2) provide an annual report to the [Governor and, in accordance with §
2–1257 of the State Government Article, the General Assembly] DEPARTMENT on
investment capital and loans made pursuant to subsection (c) of this section; and
(3) be subject to audit by the Office of Legislative Audits of the Department
of Legislative Services.
[(j) (1) On or before October 1 each year, the Department shall submit a report
on the status of money received from the Strategic Energy Investment Fund under
subsection (d) of this section to the Senate Finance Committee and the House Economic
Matters Committee, in accordance with § 2–1257 of the State Government Article.
(2) With respect to the preceding fiscal year and each relevant prior fiscal
year, the report shall include:
(i) the amounts received from the Fund;
(ii) the amounts placed as grants with eligible fund managers; and
(iii) with respect to each eligible fund manager:
1. the identity of the manager;
2. the money provided to the manager;
3. the investments made by the manager;
4. the amounts retained by the manager as expenses and
management fees;
5. the small, minority, women–owned, and veteran–owned
businesses receiving the investments; and
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6. the status of the investments listed under item 5 of this
item, along with any return made on each investment.]
(J) IN ACCORDANCE WITH § 2.5–109 OF THIS ARTICLE, THE DEPARTMENT
SHALL SUBMIT A REPOR T ON AMOUNTS RECEIVE D BY AND EXPENDED BY THE
STRATEGIC ENERGY INVESTMENT FUND.
5–1602.
(a) There is a Make Office Vacancies Extinct Program in the Department.
[5–1606.
(a) At least once every 3 years, the Secretary shall review and evaluate the
Program, including the number of participating counties with comparable support
programs and the number and size of eligible businesses that receive support from the
Program.
(b) Based on the review and evaluation, the Secretary may submit
recommendations to the Governor and, subject to § 2–1257 of the State Government Article,
the General Assembly on the continued effectiveness of the Program and the level of
matching funding that should be provided to participating counties under the Program.]
5–1606.
IN ACCORDANCE WITH § 2.5–109 OF THIS ARTICLE, THE DEPARTMENT SHALL
SUBMIT A REPORT ON T HE EFFECTIVENESS OF THE PROGRAM.
6–307.
(a) In accordance with § 2.5–109 of this article, the Department shall submit a
report on[:
(1) each business entity certified as eligible for job creation tax credits in
the preceding taxable year;
(2) whether the credits for which the business entity was certified resulted
from the entity’s establishment, expansion, or relocation;
(3) whether the business entity had a presence in the State before claiming
the credit;
(4) the total number of employees of the business entity; and
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(5) the total number of years that the business entity has been in business]
THE JOB CREATION TAX CREDITS AUTHORIZED U NDER THIS SUBTITLE .
6–802.
There is a More Jobs for Marylanders Program in the Department.
6–809.
[On or before December 1 each year, the Department shall report to the General
Assembly, in accordance with § 2–1257 of the State Government Article,] IN ACCORDANCE
WITH § 2.5–109 OF THIS ARTICLE , THE DEPARTMENT SHALL SUBM IT A REPORT on
the qualified business entities receiving final certification in the preceding fiscal year.
16–101.
(a) In this title the following words have the meanings indicated.
(b) “Grant Program” means the Purple Line Construction Zone Grant Program.
(c) “Qualified small business” means a sole proprietorship, a partnership, a
limited partnership, a limited liability partnership, a limited liability company, or a
corporation that:
(1) employs 20 or fewer employees;
(2) is independently owned and operated;
(3) is not a subsidiary of another business;
(4) is not dominant in its field of operation; and
(5) is impacted by the construction of the Purple Line light rail project in
Montgomery County and Prince George’s County.
16–102.
(a) (1) There is a Purple Line Construction Zone Grant Program.
(2) The purpose of the Grant Program is to provide funds to MONTGOMERY
COUNTY AND PRINCE GEORGE’S COUNTY TO PROVIDE ASS ISTANCE TO qualified
small businesses to assist in offsetting business revenue lost as a result of the construction
of the Purple Line light rail project in [Montgomery County and Prince George’s County]
THOSE COUNTIES .
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(3) In each of fiscal years 2023 and 2024, the Department of Commerce shall
provide $1,000,000 in general funds to the Grant Program to assist qualified small
businesses.
(b) (1) The Department of Commerce shall implement [and administer] the
Grant Program.
(2) THE DEPARTMENT SHALL DIST RIBUTE FUNDS PROVIDE D FOR THE
GRANT PROGRAM BASED ON THE NUMBER OF QUALIFIED SMALL BUSINESSES
LOCATED IN MONTGOMERY COUNTY AND PRINCE GEORGE’S COUNTY.
[(c) (1) Subject to paragraph (2) of this subsection, the Department of
Commerce, in consultation with the Department of Transportation, shall adopt regulations
to implement this section, including regulations to establish:
(i) eligibility and grant application requirements; and
(ii) a process for reviewing grant applications and awarding grants
to eligible qualified small businesses.
(2) In developing the regulations required under paragraph (1) of this
subsection, the Department of Commerce and the Maryland Transit Administration shall
consult qualified small businesses to ensure that the eligibility and application requirements
for the Grant Program are not overly burdensome to qualified small businesses.
(3) The Department of Commerce shall make the application developed for
purposes of the Grant Program available to qualified small businesses as soon as
practicable.]
(C) A COUNTY THAT RECEIVES FUNDS UNDER THIS SEC TION SHALL
IMPLEMENT A PROCESS FOR AWARDING GRANTS TO ELIGIBLE QUALIFIE D SMALL
BUSINESSES.
[(d) (1) (i) Subject to the limitations of this paragraph, the Department of
Commerce shall establish, by regulation, guidelines to calculate the amount of a grant
awarded under this section.
(ii) In establishing guidelines under subparagraph (i) of this
paragraph, the Department of Commerce may use a 12–month projection of the difference
between the business revenue of a qualified small business during the 3–month period
immediately preceding the start of the Purple Line construction compared to the 3–month
period immediately following the start of the Purple Line construction.
(iii) A grant awarded under the Grant Program may not exceed
$50,000.
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(2) Subject to the eligibility requirements established under subsection (d)
of this section, if a qualified small business is required to be registered with the State and is
registered, the qualified small business may apply for a grant under the Grant Program
regardless of ownership or location.]
[(3)] (D) (1) [(i) Subject to subparagraph (ii) of this paragraph, the]
THE Department of Commerce MAY DISTRIBUTE FUNDI NG IN ACCORDANCE WIT H
SUBSECTION (B) OF THIS SECTION AND A COUNTY may award grants until all the money
allotted for the Grant Program has been DISTRIBUTED OR awarded or until December 31,
2024, whichever occurs first.
[(ii) The Department of Commerce may not award more than one
grant to the same qualified small business in a 12–month period.]
[(4)] (2) Any money that has not been DISTRIBUTED OR awarded on or
before December 31, 2024, shall revert to the Maryland Economic Development Assistance
Fund.
Article – Tax – General
10–721.
(b) (1) The purpose of the Research and Development Tax Credit Program is
to foster increased research activities and expenditures in Maryland.
(g) [(1)] In accordance with § 2.5–109 of the Economic Development Article, the
Department shall report on the credits approved under this section.
[(2) The report required under paragraph (1) of this subsection shall include
for each individual or corporation approved to receive a credit under this section in the prior
calendar year:
(i) the individual’s or corporation’s name and address; and
(ii) the amount of the credit approved.
(3) The report required under paragraph (1) of this subsection shall include
the name of the individual or corporation and the aggregate amount of credits approved in
all calendar years for each individual or corporation under this section.
(4) The report required under paragraph (1) of this subsection shall
summarize for the credits approved under this section:
(i) the total number of applicants for credits under this section in
each calendar year; LAWRENCE J. HOGAN, JR., Governor Ch. 116
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(ii) the number of applications for which a tax credit was approved
in each calendar year; and
(iii) the total credits authorized under this section for all calendar
years under this section.]
10–725.
(h) [(1)] In accordance with § 2.5–109 of the Economic Development Article, the
Department shall report on[:
(i) the initial tax credit certificates awarded under this section for
the calendar year, including the number of initial tax credit certificates awarded to
qualified investors for investments in qualified Maryland biotechnology companies that
were not certified by the Department in the previous calendar year; and
(ii) for each qualified Maryland biotechnology company that receives
an investment for which an initial tax credit certificate is awarded under this section for
the calendar year:
1. the number of years that the company has been in active
business; and
2. the number of years that qualified investors in the
company have received tax credits under this section] THE INITIAL TAX CRED IT
CERTIFICATES AWARDED FOR THE CALENDAR YEA R AND THE QUALIFIED
MARYLAND BIOTECHNOLOG Y COMPANIES THAT REC EIVED AN INVESTMENT FOR
WHICH AN INITIAL TAX CREDIT CERTIFICATE W AS AWARDED .
[(2) The report required under paragraph (1) of this subsection shall include
for each initial tax credit certificate awarded:
(i) the name of the qualified investor and the amount of credit
awarded or allocated to each investor;
(ii) the name and address of the qualified Maryland biotechnology
company that received the investment giving rise to the credit under this section and the
county where the qualified Maryland biotechnology company is located; and
(iii) the dates of receipt and approval by the Department of all
applications for initial tax credit certificates.
(3) The report required under paragraph (1) of this subsection shall
summarize for the category of qualified investors:
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(i) the total number of applicants for initial tax credit certificates
under this section in each calendar year;
(ii) the number of applications for which initial tax credit certificates
were issued in each calendar year; and
(iii) the total initial tax credit certificates authorized under this
section for all calendar years under this section.]
10–730.
(e) [(1)] In accordance with § 2.5–109 of the Economic Development Article, the
Department shall submit a report [that includes:
(i) the number of film production entities submitting applications
under subsection (c) of this section;
(ii) the number and amount of tax credit certificates issued under
subsection (d) of this section;
(iii) the number of local technicians, actors, and extras hired for film
production activity during the reporting period;
(iv) a list of companies doing business in the State, including hotels,
that directly provided goods or services for film production activity during the reporting
period;
(v) a list of companies doing business in the State that directly
provided goods or services for film production activity during the reporting period that
qualified during the reporting period as minority business enterprises under § 14–301(f) of
the State Finance and Procurement Article;
(vi) a list of companies doing business in the State that directly
provided goods or services for film production activity during the reporting period that, as
determined by the Department, are considered small businesses; and
(vii) any other information that indicates] ON FILM PRODUCTION
ACTIVITY IN THE STATE AND the economic benefits to the State resulting from film
production activity during the reporting period.
[(2) On or before July 1 of each year, the Department shall report to the
Governor and, subject to § 2–1257 of the State Government Article, the General Assembly
on:
(i) the amount of tax credits necessary to maintain the current level
of film production activity in the State; and LAWRENCE J. HOGAN, JR., Governor Ch. 116
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(ii) the amount of tax credits necessary to attract new film
production activity to the State.]
10–733.
(b) (1) The Innovation Investment Incentive Tax Credit is intended to foster
the growth of Maryland’s technology sectors by incentivizing investment in early–stage
companies with the goal of increasing the number of companies developing innovative
technologies in Maryland, increasing overall investments in current and emerging
technology sectors, and increasing the number of individual investors actively investing in
Maryland’s technology companies.
(h) [(1)] In accordance with § 2.5–109 of the Economic Development Article, the
Department shall submit a report on the initial tax credit certificates awarded under this
section for the calendar year.
[(2) The report required under paragraph (1) of this subsection shall include
for each initial tax credit certificate awarded:
(i) the name of the qualified investor and the amount of credit
awarded or allocated to each qualified investor;
(ii) the name and address of the qualified Maryland technology
company that received the investment giving rise to the credit under this section and the
county where the qualified Maryland technology company is located; and
(iii) the dates of receipt and approval by the Department of all
applications for initial tax credit certificates.
(3) The report required under paragraph (1) of this subsection shall
summarize for the categories of qualified investors:
(i) the total number of applicants for initial tax credit certificates
under this section in each calendar year;
(ii) the number of applications for which initial tax credit certificates
were issued in each calendar year; and
(iii) the total initial tax credit certificates authorized under this
section for all calendar years under this section.]
10–733.1.
(b) (1) Subject to paragraphs (2) and (3) of this subsection, a qualified buyer
may claim a credit against the State income tax in an amount equal to 50% of the cost Ch. 116 2022 LAWS OF MARYLAND
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incurred during the taxable year to purchase cybersecurity technology or a cybersecurity
service from one or more qualified sellers.
(f) [(1)] In accordance with § 2.5–109 of the Economic Development Article, the
Department shall submit a report on the credit certificates awarded under this section for
the calendar year.
[(2) The report required under paragraph (1) of this subsection shall include
for each credit certificate awarded:
(i) the names of the qualified buyer and the qualified seller and the
amount of the credit certificate approved for each qualified buyer;
(ii) the name and address of the qualified buyer that received the
credit under this section and the county where the qualified buyer is located; and
(iii) the dates of receipt and approval by the Department of all
applications for credit certificates.
(3) The report required under paragraph (1) of this subsection shall
summarize for the categories of qualified buyers:
(i) the total number of applicants for credit certificates under this
section in each calendar year;
(ii) the number of applications for which credit certificates were
issued in each calendar year; and
(iii) the total amount of credit certificates authorized under this
section for all calendar years under this section.]
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2022.
Approved by the Governor, April 12, 2022.