Maryland 2022 Regular Session

Maryland Senate Bill SB846 Compare Versions

Only one version of the bill is available at this time.
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33 EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
44 [Brackets] indicate matter deleted from existing law.
55 *sb0846*
66
77 SENATE BILL 846
88 C8 2lr2245
99 SB 709/21 – FIN CF 2lr2243
1010 By: Senators Edwards and Corderman
1111 Introduced and read first time: February 7, 2022
1212 Assigned to: Finance
1313
1414 A BILL ENTITLED
1515
1616 AN ACT concerning 1
1717
1818 Economic Development – Maryland Technology Infrastructure Pilot 2
1919 Program – Establishment 3
2020
2121 FOR the purpose of establishing the Maryland Technology Infrastructure Pilot Program in 4
2222 the Maryland Technology Development Corporation; establishing the Maryland 5
2323 Technology Infrastructure Authority; establishing the Maryland Technology 6
2424 Infrastructure Fund as a special, nonlapsing fund; and generally relating to the 7
2525 Maryland Technology Infrastructure Pilot Program and the Maryland Technology 8
2626 Development Corporation. 9
2727
2828 BY adding to 10
2929 Article – Economic Development 11
3030 Section 10–4C–01 through 10–4C–10 to be under the new subtitle “Subtitle 4C. 12
3131 Maryland Technology Infrastructure Pilot Program” 13
3232 Annotated Code of Maryland 14
3333 (2018 Replacement Volume and 2021 Supplement) 15
3434
3535 BY repealing and reenacting, without amendments, 16
3636 Article – State Finance and Procurement 17
3737 Section 6–226(a)(2)(i) 18
3838 Annotated Code of Maryland 19
3939 (2021 Replacement Volume) 20
4040
4141 BY repealing and reenacting, with amendments, 21
4242 Article – State Finance and Procurement 22
4343 Section 6–226(a)(2)(ii)144. and 145. 23
4444 Annotated Code of Maryland 24
4545 (2021 Replacement Volume) 25
4646
4747 BY adding to 26
4848 Article – State Finance and Procurement 27 2 SENATE BILL 846
4949
5050
5151 Section 6–226(a)(2)(ii)146. 1
5252 Annotated Code of Maryland 2
5353 (2021 Replacement Volume) 3
5454
5555 SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 4
5656 That the Laws of Maryland read as follows: 5
5757
5858 Article – Economic Development 6
5959
6060 SUBTITLE 4C. MARYLAND TECHNOLOGY INFRASTRUCTURE PILOT PROGRAM. 7
6161
6262 10–4C–01. 8
6363
6464 (A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 9
6565 INDICATED. 10
6666
6767 (B) “AUTHORITY” MEANS THE MARYLAND TECHNOLOGY 11
6868 INFRASTRUCTURE AUTHORITY. 12
6969
7070 (C) “CORPORATION ” MEANS THE MARYLAND TECHNOLOGY 13
7171 DEVELOPMENT CORPORATION . 14
7272
7373 (D) “FINANCIAL ASSISTANCE ” MEANS A GR ANT, A LOAN, A CREDIT 15
7474 ENHANCEMENT , AN INVESTMENT , OR ANY SIMILAR ASSIS TANCE. 16
7575
7676 (E) “FUND” MEANS THE MARYLAND TECHNOLOGY INFRASTRUCTURE 17
7777 FUND. 18
7878
7979 (F) “PROGRAM” MEANS THE MARYLAND TECHNOLOGY INFRASTRUCTURE 19
8080 PILOT PROGRAM. 20
8181
8282 (G) “PROJECT” MEANS A LARGE –SCALE, TRANSFORMATIVE 21
8383 INFRASTRUCTURE INITI ATIVE INTENDED TO PR OMOTE THE DEVELOPMEN T AND 22
8484 GROWTH OF INNOVATION –BASED BUSINESS IN WESTERN MARYLAND. 23
8585
8686 (H) “WESTERN MARYLAND” MEANS ALLEGANY, GARRETT, AND 24
8787 WASHINGTON COUNTIES . 25
8888
8989 10–4C–02. 26
9090
9191 (A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE PILOT 27
9292 PROGRAM IN THE CORPORATION . 28
9393
9494 (B) THE PURPOSE OF THE PROGRAM IS TO: 29
9595 SENATE BILL 846 3
9696
9797
9898 (1) ESTABLISH A PROGRAM IN WESTERN MARYLAND TO SUPPORT 1
9999 THE INNOVATION ECONO MY BY INCENTIVIZING THE DEVELOPMENT OF A DVANCED 2
100100 INDUSTRY INFRASTRUCT URE AND RESOURCES THAT BUILD ON THE EXISTING 3
101101 STRENGTHS OF THE REG ION’S ECONOMY; 4
102102
103103 (2) SUPPORT THE GROWTH O F AND INCENTIVIZE TH E ATTRACTION 5
104104 AND RETENTION OF EAR LY–STAGE, INNOVATION–BASED BUSINESS IN WESTERN 6
105105 MARYLAND THROUGH THE CREATION OF SUPPORTI NG INFRASTRUCTUR E AND 7
106106 RESOURCES; 8
107107
108108 (3) MANAGE A MARYLAND TECHNOLOGY INFRASTRUCTURE FUND 9
109109 FOR FINANCIAL ASSIST ANCE IN PROJECTS TO SUPPORT THE PROGRAM; AND 10
110110
111111 (4) EVALUATE THE EFFICAC Y OF THE PROGRAM FOR FUTURE 11
112112 EXPANSION TO OTHER P ARTS OF THE STATE. 12
113113
114114 10–4C–03. 13
115115
116116 (A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE AUTHORITY 14
117117 IN THE CORPORATION . 15
118118
119119 (B) THE CORPORATION SHALL PRO VIDE STAFF TO THE AUTHORITY AND 16
120120 MAY EMPLOY OR CONTRA CT WITH EXPERTS TO A SSIST WITH THE ADMIN ISTRATION 17
121121 AND MANAGEMENT OF TH E PROGRAM. 18
122122
123123 10–4C–04. 19
124124
125125 (A) THE AUTHORITY CONSISTS OF THE FOLLOWING MEMBER S: 20
126126
127127 (1) THREE MEMBERS APPOINTED BY THE GOVERNOR: 21
128128
129129 (I) TWO OF WHOM ARE ENTREPRENEURS OR BUS INESS 22
130130 OWNERS IN WESTERN MARYLAND; AND 23
131131
132132 (II) ONE OF WHOM HAS EXPE RIENCE IN VENTURE CA PITAL OR 24
133133 ECONOMIC DEVELOPMENT ; 25
134134
135135 (2) THE PRESIDENT OF FROSTBURG STATE UNIVERSITY, OR THE 26
136136 PRESIDENT’S DESIGNEE; 27
137137
138138 (3) THE PRESIDENT OF A C OMMUNITY COLLEGE LOC ATED IN 28
139139 WESTERN MARYLAND, OR THE PRESIDENT ’S DESIGNEE, APPOINTED BY THE 29
140140 MARYLAND ASSOCIATION OF COMMUNITY COLLEGES; AND 30
141141 4 SENATE BILL 846
142142
143143
144144 (4) THE EXECUTIVE DIRECTOR OF THE CORPORATION , OR THE 1
145145 EXECUTIVE DIRECTOR’S DESIGNEE. 2
146146
147147 (B) EACH MEMBER SHALL BE A RESIDENT OF THE STATE. 3
148148
149149 10–4C–05. 4
150150
151151 (A) (1) THREE MEMBERS OF THE AUTHORITY ARE A QUORU M. 5
152152
153153 (2) AN ACT OF THE AUTHORITY MUST BE APP ROVED BY A MAJORITY 6
154154 VOTE OF THE MEMBERS ATTENDING A MEETING AT WHICH A QUORUM IS PRESENT. 7
155155
156156 (B) A MEMBER OF THE AUTHORITY: 8
157157
158158 (1) MAY NOT RECEIVE COMP ENSATION AS A MEMBER OF THE 9
159159 AUTHORITY; BUT 10
160160
161161 (2) IS ENTITLED TO REIMB URSEMENT FOR EXPENSE S UNDER THE 11
162162 STANDARD STATE TRAVEL REGULATIONS, AS PROVIDED IN THE STATE BUDGET . 12
163163
164164 (C) A MEMBER OF THE AUTHORITY SHALL FILE AN ANNUAL PUBLIC 13
165165 DISCLOSURE OF FINANC IAL INTERESTS AS REQ UIRED UNDER THE MARYLAND 14
166166 PUBLIC ETHICS LAW. 15
167167
168168 (D) EACH MEMBER OF THE AUTHORITY SHALL DISCL OSE TO THE STATE 16
169169 ETHICS COMMISSION WHETHER TH E MEMBER IS EMPLOYED BY OR HAS A FINANCIA L 17
170170 INTEREST IN AN ENTIT Y THAT MAY APPLY FOR FUNDING FROM THE FUND. 18
171171
172172 10–4C–06. 19
173173
174174 THE AUTHORITY SHALL PROVI DE ADVICE TO AND CON SULT WITH THE 20
175175 CORPORATION IN CONNEC TION WITH THE ADMINI STRATION OF THE PROGRAM 21
176176 UNDER THIS SUBTITLE . 22
177177
178178 10–4C–07. 23
179179
180180 (A) THERE IS A MARYLAND TECHNOLOGY INFRASTRUCTURE FUND IN THE 24
181181 CORPORATION . 25
182182
183183 (B) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 26
184184 SUBJECT TO REVERSION UNDER § 7–302 OF THE STATE FINANCE AND 27
185185 PROCUREMENT ARTICLE. 28
186186
187187 (2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 29 SENATE BILL 846 5
188188
189189
190190 AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 1
191191
192192 (C) THE FUND CONSISTS OF : 2
193193
194194 (1) APPROPRIATIONS AS PR OVIDED IN THE STATE BUDGET ; 3
195195
196196 (2) ANY INTEREST EARNING S OF THE FUND; AND 4
197197
198198 (3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 5
199199 THE BENEFIT OF THE PROGRAM. 6
200200
201201 (D) THE EXECUTIVE DIRECTOR OF THE CORPORATION , OR THE EXECUTIVE 7
202202 DIRECTOR’S DESIGNEE, SHALL ADMINISTER THE FUND IN ACCORDANCE WI TH THIS 8
203203 SUBTITLE AND ANY OTH ER APPLICABLE LAW . 9
204204
205205 (E) THE FUND SHALL BE USED TO COVER THE COSTS OF T HE PROGRAM, 10
206206 INCLUDING: 11
207207
208208 (1) ANY ADMINISTRATIVE C OSTS; AND 12
209209
210210 (2) ANY FINANCIAL ASSIST ANCE THAT IS AWARDED TO ELIGIBLE 13
211211 RECIPIENTS. 14
212212
213213 (F) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 15
214214 IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 16
215215
216216 (2) ANY INVESTMENT EARNIN GS OF THE FUND SHALL BE CREDITE D 17
217217 TO THE FUND. 18
218218
219219 (G) THE ACCOUNT AND TRANS ACTIONS OF THE FUND ARE SUBJECT TO 19
220220 AUDIT BY THE OFFICE OF LEGISLATIVE AUDITS AS PROVIDED IN § 2–1220 OF THE 20
221221 STATE GOVERNMENT ARTICLE. 21
222222
223223 10–4C–08. 22
224224
225225 (A) WITHIN THE PROGRAM, SUBJECT TO AVAILABLE FUNDING, AND ON THE 23
226226 RECOMMENDATION OF TH E AUTHORITY, THE CORPORATION SHALL AWA RD 24
227227 FINANCIAL ASSISTANCE FROM THE FUND TO PUBLIC OR PRI VATE ENTITIES IN THE 25
228228 STATE, INCLUDING INSTITUTIO NS OF HIGHER EDUCATI ON, TO: 26
229229
230230 (1) SUPPORT LARGE –SCALE INFRASTRUCTURE OR RESOURCE 27
231231 PROJECTS IN WESTERN MARYLAND TO ATTRACT T ALENT, FOSTER 28
232232 COLLABORATION , AND ENABLE CONCENTRA TION AND GROWTH OF A DVANCED 29
233233 INDUSTRIES; 30 6 SENATE BILL 846
234234
235235
236236
237237 (2) FOSTER PUB LIC–PRIVATE COLLABORATIO NS TO ENCOURAGE 1
238238 DEVELOPMENT OF SHARE D INFRASTRUCTURE AND RESOURCES; AND 2
239239
240240 (3) SUPPORT TALENT DEVEL OPMENT INITIATIVES T HAT ADDRESS 3
241241 CRITICAL SKILL SHORT AGE AREAS IN INDUSTR IES CRITICAL TO GROW TH IN 4
242242 WESTERN MARYLAND. 5
243243
244244 (B) THE FUND MAY NOT CONTRIBUTE MO RE THAN: 6
245245
246246 (1) ONE–THIRD OF THE TOTAL C OST OF THE PROJECT ; OR 7
247247
248248 (2) $500,000 PER PROJECT. 8
249249
250250 10–4C–09. 9
251251
252252 (A) THE AUTHORITY SHALL ADOPT REGULATIONS TO ESTAB LISH: 10
253253
254254 (1) A COMPETITIVE APPLIC ATION PROCESS ; AND 11
255255
256256 (2) CRITERIA AND PROCEDURES FOR AWARD ING FINANCIAL 12
257257 ASSISTANCE FROM THE FUND TO ELIGIBLE RECI PIENTS, INCLUDING CRITERIA T HAT 13
258258 EXAMINE: 14
259259
260260 (I) THE PROJECT ’S POTENTIAL IMPACT O N THE LOCAL 15
261261 ECONOMY; 16
262262
263263 (II) THE PROJECT ’S LIKELIHOOD TO FOST ER JOB CREATION ; 17
264264 AND 18
265265
266266 (III) CAPITAL INVESTMENT IN THE PR OJECT. 19
267267
268268 (B) (1) IN ACCORDANCE WITH TH IS SUBTITLE, ALL PRIVATE SECTOR 20
269269 ENTITIES IN THE STATE AND ALL INSTITU TIONS OF HIGHER EDUC ATION IN THE 21
270270 STATE MAY BE ELIGIBLE RECIPIENTS OF FINANC IAL ASSISTANCE. 22
271271
272272 (2) PRIORITY FOR THE AWAR D OF ANY FINANCIAL ASSISTANCE SHALL 23
273273 BE GIVEN TO THOSE PR OJECTS MOST LIKELY T O: 24
274274
275275 (I) ATTRACT SIGNIFICANT INVESTMENT IN THE STATE; 25
276276
277277 (II) RESULT IN SIGNIFICAN T COMPANY FORMATION , 26
278278 EXPANSION, OR JOB CREATION ; OR 27
279279
280280 (III) RESULT IN MEANINGFUL ECONOMIC AND EMPLOYM ENT 28 SENATE BILL 846 7
281281
282282
283283 DEVELOPMENT IN WESTERN MARYLAND. 1
284284
285285 10–4C–10. 2
286286
287287 ON OR BEFORE JULY 1, 2026, THE CORPORATION SHALL REP ORT TO THE 3
288288 GENERAL ASSEMBLY, IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT 4
289289 ARTICLE, ON THE IMPLEMENTATIO N OF THE PROGRAM AND SHALL MAK E 5
290290 RECOMMENDATIO NS ON THE EXPANSION OF THE PROGRAM TO A STATEWID E 6
291291 PROGRAM. 7
292292
293293 Article – State Finance and Procurement 8
294294
295295 6–226. 9
296296
297297 (a) (2) (i) Notwithstanding any other provision of law, and unless 10
298298 inconsistent with a federal law, grant agreement, or other federal requirement or with the 11
299299 terms of a gift or settlement agreement, net interest on all State money allocated by the 12
300300 State Treasurer under this section to special funds or accounts, and otherwise entitled to 13
301301 receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 14
302302 Fund of the State. 15
303303
304304 (ii) The provisions of subparagraph (i) of this paragraph do not apply 16
305305 to the following funds: 17
306306
307307 144. the Health Equity Resource Community Reserve Fund; 18
308308 [and] 19
309309
310310 145. the Access to Counsel Evictions Special Fund; AND 20
311311
312312 146. THE MARYLAND TECHNOLOGY INFRASTRUCTURE 21
313313 FUND. 22
314314
315315 SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 23
316316 1, 2022. It shall remain effective for a period of 5 years and, at the end of June 30, 2027, 24
317317 this Act, with no further action required by the General Assembly, shall be abrogated and 25
318318 of no further force and effect. 26
319319