Maryland 2022 Regular Session

Maryland Senate Bill SB846 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4	[Brackets] indicate matter deleted from existing law.
5	5	sb0846
6	6
7	7	SENATE BILL 846
8	8	C8 2lr2245
9	9	SB 709/21 – FIN CF 2lr2243
10	10	By: Senators Edwards and Corderman
11	11	Introduced and read first time: February 7, 2022
12	12	Assigned to: Finance
13	13
14	14	A BILL ENTITLED
15	15
16	16	AN ACT concerning 1
17	17
18	18	Economic Development – Maryland Technology Infrastructure Pilot 2
19	19	Program – Establishment 3
20	20
21	21	FOR the purpose of establishing the Maryland Technology Infrastructure Pilot Program in 4
22	22	the Maryland Technology Development Corporation; establishing the Maryland 5
23	23	Technology Infrastructure Authority; establishing the Maryland Technology 6
24	24	Infrastructure Fund as a special, nonlapsing fund; and generally relating to the 7
25	25	Maryland Technology Infrastructure Pilot Program and the Maryland Technology 8
26	26	Development Corporation. 9
27	27
28	28	BY adding to 10
29	29	Article – Economic Development 11
30	30	Section 10–4C–01 through 10–4C–10 to be under the new subtitle “Subtitle 4C. 12
31	31	Maryland Technology Infrastructure Pilot Program” 13
32	32	Annotated Code of Maryland 14
33	33	(2018 Replacement Volume and 2021 Supplement) 15
34	34
35	35	BY repealing and reenacting, without amendments, 16
36	36	Article – State Finance and Procurement 17
37	37	Section 6–226(a)(2)(i) 18
38	38	Annotated Code of Maryland 19
39	39	(2021 Replacement Volume) 20
40	40
41	41	BY repealing and reenacting, with amendments, 21
42	42	Article – State Finance and Procurement 22
43	43	Section 6–226(a)(2)(ii)144. and 145. 23
44	44	Annotated Code of Maryland 24
45	45	(2021 Replacement Volume) 25
46	46
47	47	BY adding to 26
48	48	Article – State Finance and Procurement 27 2 SENATE BILL 846
49	49
50	50
51	51	Section 6–226(a)(2)(ii)146. 1
52	52	Annotated Code of Maryland 2
53	53	(2021 Replacement Volume) 3
54	54
55	55	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 4
56	56	That the Laws of Maryland read as follows: 5
57	57
58	58	Article – Economic Development 6
59	59
60	60	SUBTITLE 4C. MARYLAND TECHNOLOGY INFRASTRUCTURE PILOT PROGRAM. 7
61	61
62	62	10–4C–01. 8
63	63
64	64	(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 9
65	65	INDICATED. 10
66	66
67	67	(B) “AUTHORITY” MEANS THE MARYLAND TECHNOLOGY 11
68	68	INFRASTRUCTURE AUTHORITY. 12
69	69
70	70	(C) “CORPORATION ” MEANS THE MARYLAND TECHNOLOGY 13
71	71	DEVELOPMENT CORPORATION . 14
72	72
73	73	(D) “FINANCIAL ASSISTANCE ” MEANS A GR ANT, A LOAN, A CREDIT 15
74	74	ENHANCEMENT , AN INVESTMENT , OR ANY SIMILAR ASSIS TANCE. 16
75	75
76	76	(E) “FUND” MEANS THE MARYLAND TECHNOLOGY INFRASTRUCTURE 17
77	77	FUND. 18
78	78
79	79	(F) “PROGRAM” MEANS THE MARYLAND TECHNOLOGY INFRASTRUCTURE 19
80	80	PILOT PROGRAM. 20
81	81
82	82	(G) “PROJECT” MEANS A LARGE –SCALE, TRANSFORMATIVE 21
83	83	INFRASTRUCTURE INITI ATIVE INTENDED TO PR OMOTE THE DEVELOPMEN T AND 22
84	84	GROWTH OF INNOVATION –BASED BUSINESS IN WESTERN MARYLAND. 23
85	85
86	86	(H) “WESTERN MARYLAND” MEANS ALLEGANY, GARRETT, AND 24
87	87	WASHINGTON COUNTIES . 25
88	88
89	89	10–4C–02. 26
90	90
91	91	(A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE PILOT 27
92	92	PROGRAM IN THE CORPORATION . 28
93	93
94	94	(B) THE PURPOSE OF THE PROGRAM IS TO: 29
95	95	SENATE BILL 846 3
96	96
97	97
98	98	(1) ESTABLISH A PROGRAM IN WESTERN MARYLAND TO SUPPORT 1
99	99	THE INNOVATION ECONO MY BY INCENTIVIZING THE DEVELOPMENT OF A DVANCED 2
100	100	INDUSTRY INFRASTRUCT URE AND RESOURCES THAT BUILD ON THE EXISTING 3
101	101	STRENGTHS OF THE REG ION’S ECONOMY; 4
102	102
103	103	(2) SUPPORT THE GROWTH O F AND INCENTIVIZE TH E ATTRACTION 5
104	104	AND RETENTION OF EAR LY–STAGE, INNOVATION–BASED BUSINESS IN WESTERN 6
105	105	MARYLAND THROUGH THE CREATION OF SUPPORTI NG INFRASTRUCTUR E AND 7
106	106	RESOURCES; 8
107	107
108	108	(3) MANAGE A MARYLAND TECHNOLOGY INFRASTRUCTURE FUND 9
109	109	FOR FINANCIAL ASSIST ANCE IN PROJECTS TO SUPPORT THE PROGRAM; AND 10
110	110
111	111	(4) EVALUATE THE EFFICAC Y OF THE PROGRAM FOR FUTURE 11
112	112	EXPANSION TO OTHER P ARTS OF THE STATE. 12
113	113
114	114	10–4C–03. 13
115	115
116	116	(A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE AUTHORITY 14
117	117	IN THE CORPORATION . 15
118	118
119	119	(B) THE CORPORATION SHALL PRO VIDE STAFF TO THE AUTHORITY AND 16
120	120	MAY EMPLOY OR CONTRA CT WITH EXPERTS TO A SSIST WITH THE ADMIN ISTRATION 17
121	121	AND MANAGEMENT OF TH E PROGRAM. 18
122	122
123	123	10–4C–04. 19
124	124
125	125	(A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBER S: 20
126	126
127	127	(1) THREE MEMBERS APPOINTED BY THE GOVERNOR: 21
128	128
129	129	(I) TWO OF WHOM ARE ENTREPRENEURS OR BUS INESS 22
130	130	OWNERS IN WESTERN MARYLAND; AND 23
131	131
132	132	(II) ONE OF WHOM HAS EXPE RIENCE IN VENTURE CA PITAL OR 24
133	133	ECONOMIC DEVELOPMENT ; 25
134	134
135	135	(2) THE PRESIDENT OF FROSTBURG STATE UNIVERSITY, OR THE 26
136	136	PRESIDENT’S DESIGNEE; 27
137	137
138	138	(3) THE PRESIDENT OF A C OMMUNITY COLLEGE LOC ATED IN 28
139	139	WESTERN MARYLAND, OR THE PRESIDENT ’S DESIGNEE, APPOINTED BY THE 29
140	140	MARYLAND ASSOCIATION OF COMMUNITY COLLEGES; AND 30
141	141	4 SENATE BILL 846
142	142
143	143
144	144	(4) THE EXECUTIVE DIRECTOR OF THE CORPORATION , OR THE 1
145	145	EXECUTIVE DIRECTOR’S DESIGNEE. 2
146	146
147	147	(B) EACH MEMBER SHALL BE A RESIDENT OF THE STATE. 3
148	148
149	149	10–4C–05. 4
150	150
151	151	(A) (1) THREE MEMBERS OF THE AUTHORITY ARE A QUORU M. 5
152	152
153	153	(2) AN ACT OF THE AUTHORITY MUST BE APP ROVED BY A MAJORITY 6
154	154	VOTE OF THE MEMBERS ATTENDING A MEETING AT WHICH A QUORUM IS PRESENT. 7
155	155
156	156	(B) A MEMBER OF THE AUTHORITY: 8
157	157
158	158	(1) MAY NOT RECEIVE COMP ENSATION AS A MEMBER OF THE 9
159	159	AUTHORITY; BUT 10
160	160
161	161	(2) IS ENTITLED TO REIMB URSEMENT FOR EXPENSE S UNDER THE 11
162	162	STANDARD STATE TRAVEL REGULATIONS, AS PROVIDED IN THE STATE BUDGET . 12
163	163
164	164	(C) A MEMBER OF THE AUTHORITY SHALL FILE AN ANNUAL PUBLIC 13
165	165	DISCLOSURE OF FINANC IAL INTERESTS AS REQ UIRED UNDER THE MARYLAND 14
166	166	PUBLIC ETHICS LAW. 15
167	167
168	168	(D) EACH MEMBER OF THE AUTHORITY SHALL DISCL OSE TO THE STATE 16
169	169	ETHICS COMMISSION WHETHER TH E MEMBER IS EMPLOYED BY OR HAS A FINANCIA L 17
170	170	INTEREST IN AN ENTIT Y THAT MAY APPLY FOR FUNDING FROM THE FUND. 18
171	171
172	172	10–4C–06. 19
173	173
174	174	THE AUTHORITY SHALL PROVI DE ADVICE TO AND CON SULT WITH THE 20
175	175	CORPORATION IN CONNEC TION WITH THE ADMINI STRATION OF THE PROGRAM 21
176	176	UNDER THIS SUBTITLE . 22
177	177
178	178	10–4C–07. 23
179	179
180	180	(A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE FUND IN THE 24
181	181	CORPORATION . 25
182	182
183	183	(B) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 26
184	184	SUBJECT TO REVERSION UNDER § 7–302 OF THE STATE FINANCE AND 27
185	185	PROCUREMENT ARTICLE. 28
186	186
187	187	(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 29 SENATE BILL 846 5
188	188
189	189
190	190	AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 1
191	191
192	192	(C) THE FUND CONSISTS OF : 2
193	193
194	194	(1) APPROPRIATIONS AS PR OVIDED IN THE STATE BUDGET ; 3
195	195
196	196	(2) ANY INTEREST EARNING S OF THE FUND; AND 4
197	197
198	198	(3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 5
199	199	THE BENEFIT OF THE PROGRAM. 6
200	200
201	201	(D) THE EXECUTIVE DIRECTOR OF THE CORPORATION , OR THE EXECUTIVE 7
202	202	DIRECTOR’S DESIGNEE, SHALL ADMINISTER THE FUND IN ACCORDANCE WI TH THIS 8
203	203	SUBTITLE AND ANY OTH ER APPLICABLE LAW . 9
204	204
205	205	(E) THE FUND SHALL BE USED TO COVER THE COSTS OF T HE PROGRAM, 10
206	206	INCLUDING: 11
207	207
208	208	(1) ANY ADMINISTRATIVE C OSTS; AND 12
209	209
210	210	(2) ANY FINANCIAL ASSIST ANCE THAT IS AWARDED TO ELIGIBLE 13
211	211	RECIPIENTS. 14
212	212
213	213	(F) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 15
214	214	IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 16
215	215
216	216	(2) ANY INVESTMENT EARNIN GS OF THE FUND SHALL BE CREDITE D 17
217	217	TO THE FUND. 18
218	218
219	219	(G) THE ACCOUNT AND TRANS ACTIONS OF THE FUND ARE SUBJECT TO 19
220	220	AUDIT BY THE OFFICE OF LEGISLATIVE AUDITS AS PROVIDED IN § 2–1220 OF THE 20
221	221	STATE GOVERNMENT ARTICLE. 21
222	222
223	223	10–4C–08. 22
224	224
225	225	(A) WITHIN THE PROGRAM, SUBJECT TO AVAILABLE FUNDING, AND ON THE 23
226	226	RECOMMENDATION OF TH E AUTHORITY, THE CORPORATION SHALL AWA RD 24
227	227	FINANCIAL ASSISTANCE FROM THE FUND TO PUBLIC OR PRI VATE ENTITIES IN THE 25
228	228	STATE, INCLUDING INSTITUTIO NS OF HIGHER EDUCATI ON, TO: 26
229	229
230	230	(1) SUPPORT LARGE –SCALE INFRASTRUCTURE OR RESOURCE 27
231	231	PROJECTS IN WESTERN MARYLAND TO ATTRACT T ALENT, FOSTER 28
232	232	COLLABORATION , AND ENABLE CONCENTRA TION AND GROWTH OF A DVANCED 29
233	233	INDUSTRIES; 30 6 SENATE BILL 846
234	234
235	235
236	236
237	237	(2) FOSTER PUB LIC–PRIVATE COLLABORATIO NS TO ENCOURAGE 1
238	238	DEVELOPMENT OF SHARE D INFRASTRUCTURE AND RESOURCES; AND 2
239	239
240	240	(3) SUPPORT TALENT DEVEL OPMENT INITIATIVES T HAT ADDRESS 3
241	241	CRITICAL SKILL SHORT AGE AREAS IN INDUSTR IES CRITICAL TO GROW TH IN 4
242	242	WESTERN MARYLAND. 5
243	243
244	244	(B) THE FUND MAY NOT CONTRIBUTE MO RE THAN: 6
245	245
246	246	(1) ONE–THIRD OF THE TOTAL C OST OF THE PROJECT ; OR 7
247	247
248	248	(2) $500,000 PER PROJECT. 8
249	249
250	250	10–4C–09. 9
251	251
252	252	(A) THE AUTHORITY SHALL ADOPT REGULATIONS TO ESTAB LISH: 10
253	253
254	254	(1) A COMPETITIVE APPLIC ATION PROCESS ; AND 11
255	255
256	256	(2) CRITERIA AND PROCEDURES FOR AWARD ING FINANCIAL 12
257	257	ASSISTANCE FROM THE FUND TO ELIGIBLE RECI PIENTS, INCLUDING CRITERIA T HAT 13
258	258	EXAMINE: 14
259	259
260	260	(I) THE PROJECT ’S POTENTIAL IMPACT O N THE LOCAL 15
261	261	ECONOMY; 16
262	262
263	263	(II) THE PROJECT ’S LIKELIHOOD TO FOST ER JOB CREATION ; 17
264	264	AND 18
265	265
266	266	(III) CAPITAL INVESTMENT IN THE PR OJECT. 19
267	267
268	268	(B) (1) IN ACCORDANCE WITH TH IS SUBTITLE, ALL PRIVATE SECTOR 20
269	269	ENTITIES IN THE STATE AND ALL INSTITU TIONS OF HIGHER EDUC ATION IN THE 21
270	270	STATE MAY BE ELIGIBLE RECIPIENTS OF FINANC IAL ASSISTANCE. 22
271	271
272	272	(2) PRIORITY FOR THE AWAR D OF ANY FINANCIAL ASSISTANCE SHALL 23
273	273	BE GIVEN TO THOSE PR OJECTS MOST LIKELY T O: 24
274	274
275	275	(I) ATTRACT SIGNIFICANT INVESTMENT IN THE STATE; 25
276	276
277	277	(II) RESULT IN SIGNIFICAN T COMPANY FORMATION , 26
278	278	EXPANSION, OR JOB CREATION ; OR 27
279	279
280	280	(III) RESULT IN MEANINGFUL ECONOMIC AND EMPLOYM ENT 28 SENATE BILL 846 7
281	281
282	282
283	283	DEVELOPMENT IN WESTERN MARYLAND. 1
284	284
285	285	10–4C–10. 2
286	286
287	287	ON OR BEFORE JULY 1, 2026, THE CORPORATION SHALL REP ORT TO THE 3
288	288	GENERAL ASSEMBLY, IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT 4
289	289	ARTICLE, ON THE IMPLEMENTATIO N OF THE PROGRAM AND SHALL MAK E 5
290	290	RECOMMENDATIO NS ON THE EXPANSION OF THE PROGRAM TO A STATEWID E 6
291	291	PROGRAM. 7
292	292
293	293	Article – State Finance and Procurement 8
294	294
295	295	6–226. 9
296	296
297	297	(a) (2) (i) Notwithstanding any other provision of law, and unless 10
298	298	inconsistent with a federal law, grant agreement, or other federal requirement or with the 11
299	299	terms of a gift or settlement agreement, net interest on all State money allocated by the 12
300	300	State Treasurer under this section to special funds or accounts, and otherwise entitled to 13
301	301	receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 14
302	302	Fund of the State. 15
303	303
304	304	(ii) The provisions of subparagraph (i) of this paragraph do not apply 16
305	305	to the following funds: 17
306	306
307	307	144. the Health Equity Resource Community Reserve Fund; 18
308	308	[and] 19
309	309
310	310	145. the Access to Counsel Evictions Special Fund; AND 20
311	311
312	312	146. THE MARYLAND TECHNOLOGY INFRASTRUCTURE 21
313	313	FUND. 22
314	314
315	315	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 23
316	316	1, 2022. It shall remain effective for a period of 5 years and, at the end of June 30, 2027, 24
317	317	this Act, with no further action required by the General Assembly, shall be abrogated and 25
318	318	of no further force and effect. 26
319	319