WES MOORE, Governor Ch. 430
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Chapter 430
(House Bill 552)
AN ACT concerning
Economic Development – Build Our Future Grant Pilot Program and Fund
(Innovation Economy Infrastructure Act of 2023)
FOR the purpose of establishing the Build Our Future Grant Pilot Program in the
Department of Commerce to provide funding for certain costs for infrastructure
projects in eligible technology sectors; requiring certain grantees to provide matching
funds and to demonstrate certain abilities; establishing the Build Our Future Grant
Fund as a special, nonlapsing fund; and generally relating to the Build Our Future
Grant Pilot Program and Fund.
BY repealing and reenacting, with amendments,
Article – Economic Development
Section 5–102
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY adding to
Article – Economic Development
Section 5–2301 through 5–2307 to be under the new subtitle “Subtitle 23. Build Our
Future Grant Pilot Program”
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, without amendments,
Article – State Finance and Procurement
Section 6–226(a)(2)(i)
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – State Finance and Procurement
Section 6–226(a)(2)(ii)170. and 171.
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
BY adding to
Article – State Finance and Procurement
Section 6–226(a)(2)(ii)172.
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
Ch. 430 2023 LAWS OF MARYLAND
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Economic Development
5–102.
The Department shall administer the State’s economic development and financial
assistance programs and funds including:
(1) the BRAC Revitalization and Incentive Zone Program, under Subtitle
13 of this title;
(2) THE BUILD OUR FUTURE GRANT PILOT PROGRAM, UNDER
SUBTITLE 23 OF THIS TITLE;
(3) the Enterprise Fund, under Subtitle 6 of this title;
[(3)] (4) the Enterprise Zones Program, under Subtitle 7 of this title;
[(4)] (5) the Make Office Vacancies Extinct Program, under Subtitle 15 of
this title;
[(5)] (6) the Maryland Economic Adjustment Fund, under Subtitle 2 of
this title;
[(6)] (7) the Maryland Economic Development Assistance Authority and
Fund, under Subtitle 3 of this title;
[(7)] (8) the Maryland Industrial Development Financing Authority,
under Subtitle 4 of this title;
[(8)] (9) the Maryland Small Business Development Financing Authority,
under Subtitle 5 of this title;
[(9)] (10) the Appalachian Regional Development Program, under Title 13,
Subtitle 1 of this article;
[(10)] (11) jointly with the Department of Housing and Community
Development, the Community Development Block Grant for Economic Development;
[(11)] (12) the Regional Institution Strategic Enterprise Zone Program
under Subtitle 14 of this title; and
WES MOORE, Governor Ch. 430
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[(12)] (13) any other programs or funds designated by statute, the
Governor, or the Secretary.
SUBTITLE 23. BUILD OUR FUTURE GRANT PILOT PROGRAM.
5–2301.
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(B) “FUND” MEANS THE BUILD OUR FUTURE GRANT FUND.
(C) “PROGRAM” MEANS THE BUILD OUR FUTURE GRANT PILOT PROGRAM.
5–2302.
(A) THERE IS A BUILD OUR FUTURE GRANT PILOT PROGRAM IN THE
DEPARTMENT .
(B) THE PURPOSE OF THE PROGRAM IS TO PROVIDE GRANT FUNDING FOR
INFRASTRUCTURE PROJE CTS INTENDED TO SUPP ORT INNOVATION IN AN ELIGIBLE
TECHNOLOGY SECTOR .
(C) GRANTS MAY BE AWARDED TO PRIVATE COMPANIES , NONPROFIT
ENTITIES, LOCAL GOVERNMENTS , OR COLLEGES AND UNIV ERSITIES IN THE STATE.
(D) THE DEPARTMENT SHALL ADMI NISTER THE PROGRAM.
5–2303.
(A) TO CARRY OUT THE PURP OSE OF THE PROGRAM, THE DEPARTMENT
MAY AWARD GRANTS IN ACCORDANCE WITH THIS SUBTITLE TO APPROVED
RECIPIENTS CARRYING OUT INFRASTRUCTURE P ROJECTS INTENDED TO SUPPORT
INNOVATION IN ANY OF THE FOLLOWING ELIGIBLE TECHNOLOGY SECTORS:
(1) ADVANCED MANUFACTURI NG;
(2) AEROSPACE;
(3) AGRICULTURE ;
(4) ARTIFICIAL INTELLIGE NCE;
(5) BIOTECHNOLOGY ; Ch. 430 2023 LAWS OF MARYLAND
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(6) BLUE TECHNOLOGY ;
(7) CYBERSECURITY ;
(8) DEFENSE;
(9) ENERGY AND SUS TAINABILITY;
(10) LIFE SCIENCES;
(11) QUANTUM; AND
(12) SENSOR AND ROBOTICS .
(B) EXAMPLES OF ELIGIBLE PROJECTS INCLUDE :
(1) SECURE COMPARTMENTAL IZED SENSITIVE COMPARTMEN TED
INFORMATION FACILITI ES;
(2) WET LABORATORIES ;
(3) CYBER RANGES ;
(4) PROTOTYPE MANUFACTUR ING CENTERS; AND
(5) OTHER SPECIALIZED WO RKFORCE TRAINING , SKILL
CERTIFICATION , OR RESEARCH –RELATED SPACES .
(C) GRANT AWARDS MAY BE U SED TO DEFRAY THE CO ST A GRANTEE INCURS
TO ACQUIRE , CONSTRUCT , REHABILITATE , INSTALL, IMPROVE, OR EQUIP AN
ELIGIBLE INNOVATION INFRASTRUCTURE PROJE CT.
(D) (1) A SINGLE ENTITY MAY BE AWARDED NOT MORE THA N $2,000,000
IN GRANT FUNDS IN A FISCAL YEAR.
(2) (I) FOR A GRANT AWARD UP TO $1,000,000, A GRANTEE SHALL
PROVIDE MATCHING FUN DS THAT ARE AT LEAST 200% OF THE GRANT AMOUNT .
(II) FOR A GRANT AWARD EXC EEDING $1,000,000, AND UP TO
$2,000,000, A GRANTEE SHALL PROV IDE MATCHING FUNDS T HAT ARE AT LEAST
400% OF THE GRANT AMOUNT .
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(III) FUNDS RECEIVED BY A G RANTEE THROUGH OTHER STATE
GRANT PROGRAMS ARE NOT COU NTED TOWARD THE GRAN TEE’S MATCHING FUNDS
REQUIREMENT .
(3) A GRANTEE MUST DEMONST RATE AN ABILITY TO C OVER THE FULL
ESTIMATED COSTS OF T HE PROJECT FOR WHICH THE GRANT IS AWARDED .
(4) (I) NOT MORE THAN 50% OF THE APPROPRIATION TO THE
FUND IN A FISCAL YEAR MAY BE AWARDED TO CO LLEGES AND UNIVERSIT IES IN
THAT FISCAL YEAR .
(II) GRANTS TO COLLEGES AN D UNIVERSITIES FROM THE FUND
MUST BE AWARDED TO P ROJECTS THAT :
1. ARE PERFORMED IN COL LABORATION WITH PRIV ATE
INDUSTRY; OR
2. OFFER THE PROSPECT OF SIGNIFICANT ECONOMIC
IMPACT AND THE OPPOR TUNITY TO DEVELOP EN TREPRENEURSHIP OR CL USTERS
OF TECHNOLOGICAL INN OVATION IN THE STATE.
5–2304.
A GRANTEE MAY BE SUBJE CT TO REPAYMENT OF T HE GRANT IN AN AMOUN T
DETERMINED BY THE DEPARTMENT I F THE GRANTEE FAILS TO:
(1) COMPLY WITH REPORTIN G REQUIREMENTS ESTAB LISHED BY THE
DEPARTMENT ; OR
(2) DEMONSTRATE APPROPRI ATE USE OF GRANT FUN DS.
5–2305.
(A) THERE IS A BUILD OUR FUTURE GRANT FUND.
(B) THE DEPARTMENT SHALL ADMI NISTER THE FUND.
(C) THE PURPOSE OF THE FUND IS TO PROVIDE GR ANTS FOR
INFRASTRUCTURE PROJE CTS TO SUPPORT INNOV ATION IN ELIGIBLE TE CHNOLOGY
SECTORS UNDER THIS S UBTITLE.
(D) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT
SUBJECT TO REVERSION UNDER § 7–302 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE. Ch. 430 2023 LAWS OF MARYLAND
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(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY ,
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND.
(E) THE FUND CONSISTS OF :
(1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE FUND;
(2) ANY INTEREST EARNINGS OF THE FUND; AND
(3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR
THE BENEFIT OF THE FUND.
(F) (1) THE FUND MAY BE USED TO :
(I) PROVIDE GRANTS IN AC CORDANCE WITH THIS S UBTITLE;
AND
(II) PAY THE ADMINISTRATI VE COSTS OF THE PROGRAM.
(2) DURING EACH FISCAL YE AR, THE DEPARTMENT MAY USE NO T
MORE THAN 10% OF THE MONEY APPROPR IATED TO THE FUND TO ADMINISTER TH E
PROGRAM.
(G) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED.
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO
THE FUND.
(H) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE
WITH THE STATE BUDGET .
5–2306.
ON OR BEFORE JULY 1, 2026, THE DEPARTMENT SHALL REPO RT TO THE
GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT
ARTICLE, THE GENERAL ASSEMBLY ON THE PROJE CTS FUNDED THROUGH A ND THE
ECONOMIC IMPACT OF T HE PROGRAM.
5–2307.
THE SECRETARY MAY ADOPT R EGULATIONS TO CARRY OUT THIS SUBTITLE .
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Article – State Finance and Procurement
6–226.
(a) (2) (i) Notwithstanding any other provision of law, and unless
inconsistent with a federal law, grant agreement, or other federal requirement or with the
terms of a gift or settlement agreement, net interest on all State money allocated by the
State Treasurer under this section to special funds or accounts, and otherwise entitled to
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General
Fund of the State.
(ii) The provisions of subparagraph (i) of this paragraph do not apply
to the following funds:
170. the Cannabis Public Health Fund; [and]
171. the Community Reinvestment and Repair Fund; AND
172. THE BUILD OUR FUTURE GRANT FUND.
SECTION 2. AND BE IT FURTHER ENACTED, That, on termination of this Act,
all funds remaining in the Build Our Future Grant Fund under § 5–2305 of the Economic
Development Article, as enacted by Section 1 of this Act, shall revert to the General Fund
of the State.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2023. It shall remain effective for a period of 4 years and, at the end of June 30, 2027,
this Act, with no further action required by the General Assembly, shall be abrogated and
of no further force and effect.
Approved by the Governor, May 8, 2023.