Maryland 2024 Regular Session

Maryland House Bill HB1220 Compare Versions

Version 1 (Old)

Version 2 (New)

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		-	Underlining indicates amendments to bill.
6		-	Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7		-	amendment.
8	5		hb1220
9	6
10	7		HOUSE BILL 1220
11	8		C8 4lr1741
12	9		HB 911/23 – APP CF SB 960
13	10		By: Delegates Vogel, Edelson, Harris, Qi, Rogers, and Wims
14	11		Introduced and read first time: February 8, 2024
15	12		Assigned to: Appropriations
16		-	Committee Report: Favorable
17		-	House action: Adopted
18		-	Read second time: March 28, 2024
19	13
20		-	~~CHAPTER ______~~
	14	+	A BILL ENTITLED
21	15
22	16		AN ACT concerning 1
23	17
24	18		Maryland Clean Energy Center – Climate Technology Founder’s Fund 2
25	19
26	20		FOR the purpose of establishing the Climate Technology Founder’s Fund in the Maryland 3
27	21		Clean Energy Center; requiring interest earnings of the Climate Technology 4
28	22		Founder’s Fund to be credited to the Climate Technology Founder’s Fund; requiring 5
29	23		the Maryland Energy Administration to use the Maryland Strategic Energy 6
30	24		Investment Fund to provide a certain amount of funding in certain fiscal years to the 7
31	25		Climate Technology Founder’s Fund; authorizing the Governor to transfer, on or 8
32	26		before a certain date, up to a certain amount of the funds in the Small, Minority, and 9
33	27		Women–Owned Businesses Account to the Climate Technology Founder’s Fund; and 10
34	28		generally relating to the Climate Technology Founder’s Fund within the Maryland 11
35	29		Clean Energy Center. 12
36	30
37	31		BY renumbering 13
38	32		Article – Economic Development 14
39	33		Section 10–858 and the part “Part VI. Short Title” 15
40	34		to be Section 10–862 and the part “Part VII. Short Title” 16
41	35		Annotated Code of Maryland 17
42	36		(2018 Replacement Volume and 2023 Supplement) 18
43	37
44	38		BY repealing and reenacting, without amendments, 19
45	39		Article – Economic Development 20
46	40		Section 5–1501(a) and 10–801(a), (d), and (f) 21
47	41		Annotated Code of Maryland 22
48		-	(2018 Replacement Volume and 2023 Supplement) 23 2 HOUSE BILL 1220
	42	+	(2018 Replacement Volume and 2023 Supplement) 23
	43	+
	44	+	BY repealing and reenacting, with amendments, 24
	45	+	Article – Economic Development 25
	46	+	Section 5–1501(b)(1) 26
	47	+	Annotated Code of Maryland 27
	48	+	(2018 Replacement Volume and 2023 Supplement) 28 2 HOUSE BILL 1220
49	49
50	50
51	51
52		-	BY ~~repealing and reenacting, with amendments,~~ 1
	52	+	BY adding to 1
53	53		Article – Economic Development 2
54		-	Section 5–1501(b)(1) 3
55		-	Annotated Code of Maryland 4
56		-	(2018 Replacement Volume and 2023 Supplement) 5
	54	+	Section 10–858 and 10–859 to be under the new part “Part VI. Climate Technology 3
	55	+	Founder’s Fund” 4
	56	+	Annotated Code of Maryland 5
	57	+	(2018 Replacement Volume and 2023 Supplement) 6
57	58
58		-	BY adding to 6
59		-	Article – Economic Development 7
60		-	Section 10–858 and 10–859 to be under the new part “Part VI. Climate Technology 8
61		-	Founder’s Fund” 9
	59	+	BY repealing and reenacting, without amendments, 7
	60	+	Article – State Finance and Procurement 8
	61	+	Section 6–226(a)(2)(i) 9
62	62		Annotated Code of Maryland 10
63		-	(~~2018~~ Replacement Volume and 2023 Supplement) 11
	63	+	(2021 Replacement Volume and 2023 Supplement) 11
64	64
65		-	BY repealing and reenacting, ~~without~~ amendments, 12
	65	+	BY repealing and reenacting, with amendments, 12
66	66		Article – State Finance and Procurement 13
67		-	Section 6–226(a)(2)(i) 14
	67	+	Section 6–226(a)(2)(ii)189. and 190. 14
68	68		Annotated Code of Maryland 15
69	69		(2021 Replacement Volume and 2023 Supplement) 16
70	70
71		-	BY ~~repealing and reenacting, with amendments,~~ 17
	71	+	BY adding to 17
72	72		Article – State Finance and Procurement 18
73		-	Section 6–226(a)(2)(ii)~~189. and 190~~. 19
	73	+	Section 6–226(a)(2)(ii)191. 19
74	74		Annotated Code of Maryland 20
75	75		(2021 Replacement Volume and 2023 Supplement) 21
76	76
77		-	BY ~~adding to~~ 22
78		-	Article – State ~~Finance and Procurement~~ 23
79		-	Section 6–~~226~~(a)(2)(ii)~~191.~~ 24
	77	+	BY repealing 22
	78	+	Article – State Government 23
	79	+	Section 9–20B–05(f)(9) and (f–1) 24
80	80		Annotated Code of Maryland 25
81	81		(2021 Replacement Volume and 2023 Supplement) 26
82	82
83		-	BY ~~repealing~~ 27
	83	+	BY adding to 27
84	84		Article – State Government 28
85		-	Section 9–20B–05(f)(9) ~~and (f–1)~~ 29
	85	+	Section 9–20B–05(f)(9) 29
86	86		Annotated Code of Maryland 30
87	87		(2021 Replacement Volume and 2023 Supplement) 31
88	88
89		-	BY ~~adding to~~ 32
	89	+	BY repealing and reenacting, with amendments, 32
90	90		Article – State Government 33
91		-	Section 9–20B–05(f)(9) 34
	91	+	Section 9–20B–05(f)(10) and (11), (f–2), (f–3), and (f–4) 34
92	92		Annotated Code of Maryland 35
93	93		(2021 Replacement Volume and 2023 Supplement) 36
94	94
95		-	BY ~~repealing and reenacting,~~ ~~with amendments~~, 37
96		-	Article – ~~State Government~~ 38
97		-	Section ~~9–20B–05~~(~~f)(10~~) ~~and (11), (f~~–~~2), (f–3), and (f–4)~~ 39 HOUSE BILL 1220 3
	95	+	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 37
	96	+	That Section(s) 10–858 and the part “Part VI. Short Title” of Article – Economic 38
	97	+	Development of the Annotated Code of Maryland be renumbered to be Section(s) 10–862 39 HOUSE BILL 1220 3
98	98
99	99
100		-	Annotated Code of Maryland 1
101		-	(2021 Replacement Volume and 2023 Supplement) 2
	100	+	and the part “Part VII. Short Title”. 1
102	101
103		-	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 3
104		-	That Section(s) 10–858 and the part “Part VI. Short Title” of Article – Economic 4
105		-	Development of the Annotated Code of Maryland be renumbered to be Section(s) 10–862 5
106		-	and the part “Part VII. Short Title”. 6
	102	+	SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 2
	103	+	as follows: 3
107	104
108		-	SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 7
109		-	as follows: 8
	105	+	Article – Economic Development 4
110	106
111		-	~~Article – Economic Development 9~~
	107	+	5–1501. 5
112	108
113		-	5–1501. 10
	109	+	(a) There is a Small, Minority, and Women–Owned Businesses Account under the 6
	110	+	authority of the Department. 7
114	111
115		-	(a) ~~There is a Small, Minority, and Women–Owned Businesses~~ Account under ~~the 11~~
116		-	~~authority of~~ the ~~Department~~. 12
	112	+	(b) (1) [(i)] The Account shall receive money as required under § 9–1A–27 of 8
	113	+	the State Government Article. 9
117	114
118		-	~~(b) (1)~~ [(i)] The Account shall receive money ~~as required under § 9–1A–27 of 13~~
119		-	the State Government Article. 14
	115	+	[(ii) The Account shall receive money from the Strategic Energy 10
	116	+	Investment Fund as required under § 9–20B–05 of the State Government Article.] 11
120	117
121		-	[(ii) The Account shall receive money from the Strategic Energy 15
122		-	Investment Fund as required under § 9–20B–05 of the State Government Article.] 16
	118	+	10–801. 12
123	119
124		-	~~10–801~~. 17
	120	+	(a) In this subtitle the following words have the meanings indicated. 13
125	121
126		-	(a) ~~In this subtitle~~ the ~~following words have~~ the ~~meanings indicated~~. 18
	122	+	(d) “Board” means the Board of Directors of the Center. 14
127	123
128		-	(d) “~~Board~~” means the ~~Board of Directors of the~~ Center. 19
	124	+	(f) “Center” means the Maryland Clean Energy Center. 15
129	125
130		-	~~(f) “Center” means the Maryland Clean Energy Center~~. 20
	126	+	PART VI. CLIMATE TECHNOLOGY FOUNDER’S FUND. 16
131	127
132		-	~~PART VI~~. ~~CLIMATE TECHNOLOGY FOUNDER’S FUND. 21~~
	128	+	10–858. 17
133	129
134		-	10–858. 22
	130	+	(A) IN THIS PART THE FOLL OWING WORDS HAVE THE MEANINGS 18
	131	+	INDICATED. 19
135	132
136		-	(A) IN THIS PART THE FOLLOWING WORDS HAVE THE MEANINGS 23
137		-	INDICATED. 24
	133	+	(B) “CLIMATE TECHNOLOGY ” INCLUDES: 20
138	134
139		-	(B) ~~“CLIMATE TECHNOLOGY ” INCLUDES:~~ 25
	135	+	(1) SOLAR ENERGY ; 21
140	136
141		-	(1) ~~SOLAR~~ ENERGY ; 26
	137	+	(2) WIND ENERGY ; 22
142	138
143		-	(2) ~~WIND~~ ENERGY ; 27
	139	+	(3) ENERGY STORAGE DEVIC ES; 23
144	140
145		-	(3) ENERGY STORAGE DEVIC ES; 28 4 HOUSE BILL 1220
	141	+	(4) GRID MODERNIZATION ; 24
	142	+
	143	+	(5) CARBON CAPTURE UTILIZATION AND STORAGE ; AND 25
	144	+	4 HOUSE BILL 1220
	145	+
	146	+
	147	+	(6) ANY OTHER TECHNOLOGY DEFINED BY THE CENTER THAT: 1
	148	+
	149	+	(I) REDUCES GREENHOUSE G AS EMISSIONS; 2
	150	+
	151	+	(II) MITIGATES THE IMPACT S OF CLIMATE CHANGE ; OR 3
	152	+
	153	+	(III) PROVIDES A NEGATIVE EMISSION BENEFIT IN THE 4
	154	+	ELECTRIC, OIL, OR GAS SECTOR . 5
	155	+
	156	+	(C) “FUND” MEANS THE CLIMATE TECHNOLOGY FOUNDER’S FUND. 6
	157	+
	158	+	(D) “QUALIFIED PROJECT ” MEANS A PROJECT RELA TED TO CLIMATE 7
	159	+	TECHNOLOGY . 8
	160	+
	161	+	10–859. 9
	162	+
	163	+	(A) THERE IS A CLIMATE TECHNOLOGY FOUNDER’S FUND. 10
	164	+
	165	+	(B) THE PURPOSE OF THE FUND IS TO PROVIDE EA RLY–STAGE FUNDING 11
	166	+	FOR START–UP COMPANIES FOCUSED ON QUALIFIED PROJECT S IN CLIMATE 12
	167	+	TECHNOLOGIES . 13
	168	+
	169	+	(C) (1) THE CENTER SHALL ADMINIST ER THE FUND. 14
	170	+
	171	+	(2) THE CENTER SHALL ESTABLIS H A FUND OVERSIGHT 15
	172	+	COMMITTEE, APPOINTED BY THE BOARD, TO MANAGE THE FUND. 16
	173	+
	174	+	(D) THE FUND CONSISTS OF : 17
	175	+
	176	+	(1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE FUND; 18
	177	+
	178	+	(2) MONEY MADE AVAILABLE TO THE FUND THROUGH PRIVATE 19
	179	+	CONTRIBUTIONS AND FE DERAL GRANTS OR PROG RAMS; 20
	180	+
	181	+	(3) PROCEEDS FROM THE SA LE, DISPOSITION, LEASE, OR RENTAL OF 21
	182	+	COLLATERAL RELATED TO FINANCING MADE FROM THE FUND; 22
	183	+
	184	+	(4) REPAYMENT OF FINANCI NG MADE FROM THE FUND; 23
	185	+
	186	+	(5) RETURNS FROM OR RECO VERY OF ANY FINANCIN G MADE FROM 24
	187	+	THE FUND; 25
	188	+
	189	+	(6) PROCEEDS FROM THE SA LE OF ANY FINANCING MADE OR ASSETS 26 HOUSE BILL 1220 5
	190	+
	191	+
	192	+	ACQUIRED WITH PROCEE DS FROM THE FUND; 1
	193	+
	194	+	(7) MONEY TRANSFERRED FR OM THE MARYLAND STRATEGIC 2
	195	+	ENERGY INVESTMENT FUND UNDER § 9–20B–05 OF THE STATE GOVERNMENT 3
	196	+	ARTICLE; 4
	197	+
	198	+	(8) INTEREST EARNINGS ON MONEY IN THE FUND; AND 5
	199	+
	200	+	(9) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 6
	201	+	THE BENEFIT OF THE FUND. 7
	202	+
	203	+	(E) (1) THE FUND MAY BE USED ONLY TO: 8
	204	+
	205	+	(I) EVALUATE AND COORDIN ATE FINANCING FOR QU ALIFIED 9
	206	+	PROJECTS RELATED TO THE PURPOSE OF THE FUND; 10
	207	+
	208	+	(II) PROVIDE FINANCING TO QUALIFIED PROJECTS ; 11
	209	+
	210	+	(III) SECURE PRIVATE INVES TMENT CAPITAL FOR FI NANCING OF 12
	211	+	QUALIFIED PROJECTS ; AND 13
	212	+
	213	+	(IV) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION , 14
	214	+	ADMINISTER THE FUND AND THE ACTIVITI ES OF THE CENTER IN CARRYING OU T 15
	215	+	THIS PART. 16
	216	+
	217	+	(2) NOT MORE THAN 10% OF THE FUND BALANCE MAY BE U SED FOR 17
	218	+	ADMINISTRATIVE PURPO SES. 18
	219	+
	220	+	(F) IN DETERMINING THE QUALIFIED PROJECTS T O RECEIVE FINANCING 19
	221	+	FROM THE FUND, THE DEPARTMENT SHALL GIVE PREFERENC E TO COMPANIES 20
	222	+	THAT ARE SMALL, MINORITY, WOMEN–OWNED, AND VETERAN –OWNED BUSINESSES 21
	223	+	IN THE CLEAN ENERGY INDUSTRY. 22
	224	+
	225	+	(G) (1) EXPENDITURES FROM THE FUND MAY BE MADE ONLY WITH 23
	226	+	APPROVAL OF THE FUND OVERSIGHT COMMITTEE. 24
	227	+
	228	+	(2) A RECIPIENT OF FINANCI AL ASSISTANCE UNDER THIS SECTION 25
	229	+	SHALL PROVIDE MATCHI NG FUNDS FOR THE QUA LIFIED PROJECT EQUAL TO THE 26
	230	+	AMOUNT OF FINANCIAL ASSISTANCE AWARDED F ROM THE FUND. 27
	231	+
	232	+	(H) ON OR BEFORE OCTOBER 1 EACH YEAR, THE CENTER SHALL REPORT 28
	233	+	TO THE GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE 29
	234	+	GOVERNMENT ARTICLE, THE GENERAL ASSEMBLY ON THE USE O F THE FUND AND 30 6 HOUSE BILL 1220
	235	+
	236	+
	237	+	OUTCOMES OF INVESTME NTS MADE FROM THE FUND. 1
	238	+
	239	+	10–860. RESERVED. 2
	240	+
	241	+	10–861. RESERVED. 3
	242	+
	243	+	Article – State Finance and Procurement 4
	244	+
	245	+	6–226. 5
	246	+
	247	+	(a) (2) (i) Notwithstanding any other provision of law, and unless 6
	248	+	inconsistent with a federal law, grant agreement, or other federal requirement or with the 7
	249	+	terms of a gift or settlement agreement, net interest on all State money allocated by the 8
	250	+	State Treasurer under this section to special funds or accounts, and otherwise entitled to 9
	251	+	receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 10
	252	+	Fund of the State. 11
	253	+
	254	+	(ii) The provisions of subparagraph (i) of this paragraph do not apply 12
	255	+	to the following funds: 13
	256	+
	257	+	189. the Teacher Retention and Development Fund; [and] 14
	258	+
	259	+	190. the Protecting Against Hate Crimes Grant Fund; AND 15
	260	+
	261	+	191. THE CLIMATE TECHNOLOGY FOUNDER’S FUND. 16
	262	+
	263	+	Article – State Government 17
	264	+
	265	+	9–20B–05. 18
	266	+
	267	+	(f) The Administration shall use the Fund: 19
	268	+
	269	+	[(9) subject to subsections (f–1) and (f–3) of this section, to provide 20
	270	+	$7,000,000 in funding for access to capital for small, minority, women–owned, and 21
	271	+	veteran–owned businesses in the clean energy industry under § 5–1501 of the Economic 22
	272	+	Development Article, allocated in annual increments as follows: 23
	273	+
	274	+	(i) $200,000 in fiscal year 2021; 24
	275	+
	276	+	(ii) $500,000 in fiscal year 2022; 25
	277	+
	278	+	(iii) $500,000 in fiscal year 2023; 26
	279	+
	280	+	(iv) $1,000,000 in fiscal year 2024; and 27
	281	+
	282	+	(v) $1,200,000 in each fiscal year from 2025 through 2028;] 28 HOUSE BILL 1220 7
146	283
147	284
148	285
149		-	(4) GRID MODERNIZATION ; 1
	286	+	(9) TO PROVIDE AT LEAST $1,200,000 IN EACH FISCAL YEAR FOR 1
	287	+	FISCAL YEAR 2025 THROUGH FISCAL YEAR 2028 TO THE CLIMATE TECHNOLOGY 2
	288	+	FOUNDER’S FUND ESTABLISHED UNDE R § 10–858 OF THE ECONOMIC 3
	289	+	DEVELOPMENT ARTICLE; 4
150	290
151		-	(5) CARBON CAPTURE UTILI ZATION AND STORAGE ; AND 2
	291	+	(10) subject to subsections [(f–2) and (f–3)] (F–1) AND (F–2) of this section, 5
	292	+	to invest in pre–apprenticeship, youth apprenticeship, and registered apprenticeship 6
	293	+	programs to establish career paths in the clean energy industry under § 11–708.1 of the 7
	294	+	Labor and Employment Article, as follows: 8
152	295
153		-	(6) ANY OTHER TECHNOL OGY DEFINED BY THE CENTER THAT: 3
	296	+	(i) $1,250,000 for grants to pre–apprenticeship jobs training 9
	297	+	programs under § 11–708.1(c)(3) of the Labor and Employment Article starting in fiscal 10
	298	+	year 2021 until all amounts are spent; 11
154	299
155		-	(I) REDUCES GREENHOUSE G AS EMISSIONS; 4
	300	+	(ii) $6,000,000 for grants to youth apprenticeship jobs training 12
	301	+	programs and registered apprenticeship jobs training programs under § 11–708.1(c)(5) of 13
	302	+	the Labor and Employment Article starting in fiscal year 2021 until all amounts are spent; 14
	303	+	and 15
156	304
157		-	(II) MITIGATES THE IMPACT S OF CLIMATE CHANGE ; OR 5
	305	+	(iii) $750,000 for the recruitment of individuals, including veterans 16
	306	+	and formerly incarcerated individuals, to the pre–apprenticeship jobs training programs 17
	307	+	and the registered apprenticeship jobs training programs under § 11–708.1 of the Labor 18
	308	+	and Employment Article starting in fiscal year 2021 until all amounts are spent; 19
158	309
159		-	(III) PROVIDES A NEGATIVE EMISSION BENEFIT IN THE 6
160		-	ELECTRIC, OIL, OR GAS SECTOR . 7
	310	+	(11) subject to subsection [(f–4)] (F–3) of this section, to provide at least 20
	311	+	$2,100,000 in funding each fiscal year to the Maryland Energy Innovation Fund established 21
	312	+	under § 10–835 of the Economic Development Article; 22
161	313
162		-	(C) “FUND” MEANS THE CLIMATE TECHNOLOGY FOUNDER’S FUND. 8
	314	+	[(f–1) (1) Any funding provided under subsection (f)(9) of this section that is not 23
	315	+	spent in a given fiscal year shall revert to the Fund in the following fiscal year. 24
163	316
164		-	(D) “QUALIFIED PROJECT ” MEANS A PROJECT RELA TED TO CLIMATE 9
165		-	TECHNOLOGY . 10
	317	+	(2) Funding that is provided for access to capital for small, minority, 25
	318	+	women–owned, and veteran–owned businesses under subsection (f)(9) of this section shall 26
	319	+	be used to provide grants to eligible fund managers to provide investment capital, including 27
	320	+	equity and similar investments, and loans to small, minority, women–owned, and 28
	321	+	veteran–owned businesses in the State in the clean energy industry. 29
166	322
167		-	10–859. 11
	323	+	(3) Eligible fund managers receiving grants under subsection (f)(9) of this 30
	324	+	section may use a portion of the money received to pay ordinary and reasonable expenses 31
	325	+	for administrative, actuarial, legal, marketing, and technical services and management 32
	326	+	fees. 33
168	327
169		-	(A) THERE IS A CLIMATE TECHNOLOGY FOUNDER’S FUND. 12
170		-
171		-	(B) THE PURPOSE OF THE FUND IS TO PROVIDE EA RLY–STAGE FUNDING 13
172		-	FOR START–UP COMPANIES FOCUSED ON QUALIFIED PROJECTS IN CLIMATE 14
173		-	TECHNOLOGIES . 15
174		-
175		-	(C) (1) THE CENTER SHALL ADMINIST ER THE FUND. 16
176		-
177		-	(2) THE CENTER SHALL ESTABLIS H A FUND OVERSIGHT 17
178		-	COMMITTEE, APPOINTED BY THE BOARD, TO MANAGE THE FUND. 18
179		-
180		-	(D) THE FUND CONSISTS OF : 19
181		-
182		-	(1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE FUND; 20
183		-
184		-	(2) MONEY MADE AVAILABLE TO THE FUND THROUGH PRIVATE 21
185		-	CONTRIBUTIONS AND FE DERAL GRANTS OR PROG RAMS; 22
186		-
187		-	(3) PROCEEDS FROM THE SA LE, DISPOSITION, LEASE, OR RENTAL OF 23
188		-	COLLATERAL RELATED T O FINANCING MADE FRO M THE FUND; 24
189		-
190		-	(4) REPAYMENT O F FINANCING MADE FRO M THE FUND; 25 HOUSE BILL 1220 5
	328	+	(4) The Administration may provide additional funding for the purposes 34
	329	+	stated in subsection (f)(9) of this section.] 35
	330	+	8 HOUSE BILL 1220
191	331
192	332
	333	+	[(f–2)] (F–1) An $8,000,000 payment for workforce development programs under 1
	334	+	subsection (f)(10) of this section starting in fiscal year 2021 shall be derived from the 2
	335	+	Renewable Energy, Climate Change account of the Fund. 3
193	336
194		-	(5) RETURNS FROM OR RECO VERY OF ANY FINANCIN G MADE FROM 1
195		-	THE FUND; 2
	337	+	[(f–3)] (F–2) Funding under subsection [(f)(9) and (10)] (F)(10) of this section for 4
	338	+	access to capital, investment, promotion, or implementation should be directed only to 5
	339	+	businesses that agree to create and maintain jobs that promote family–sustaining wages, 6
	340	+	employer–provided health care with affordable deductibles and co –pays, career 7
	341	+	advancement training, fair scheduling, employer–paid workers’ compensation and 8
	342	+	unemployment insurance, a retirement plan, paid time off, and the right to bargain 9
	343	+	collectively for wages and benefits. 10
196	344
197		-	(6) ~~PROCEEDS FROM~~ THE ~~SA LE OF ANY FINANCING MADE OR ASSETS 3~~
198		-	~~ACQUIRED WITH PROCEE DS FROM THE FUND;~~ 4
	345	+	[(f–4)] (F–3) Of the funds transferred to the Maryland Energy Innovation Fund 11
	346	+	under subsection (f)(11) of this section: 12
199	347
200		-	(7) MONEY TRANSFERRED FR OM THE MARYLAND STRATEGIC 5
201		-	ENERGY INVESTMENT FUND UNDER § 9–20B–05 OF THE STATE GOVERNMENT 6
202		-	ARTICLE; 7
	348	+	(1) at least $1,200,000 may be used to fund the Maryland Clean Energy 13
	349	+	Center established under § 10–806 of the Economic Development Article; and 14
203	350
204		-	(8) INTEREST EARNINGS ON MONEY IN THE FUND; AND 8
	351	+	(2) at least $900,000 may be used to fund the Maryland Energy Innovation 15
	352	+	Institute established under § 10–829 of the Economic Development Article. 16
205	353
206		-	(9) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 9
207		-	THE BENEFIT OF THE FUND. 10
	354	+	SECTION 3. AND BE IT FURTHER ENACTED, That notwithstanding any other 17
	355	+	provision of law, on or before June 30, 2024, the Governor may transfer up to $2,200,000 of 18
	356	+	the funds in the Small, Minority, and Women–Owned Businesses Account established 19
	357	+	under § 5–1501 of the Economic Development Article that are attributable to funds from 20
	358	+	the Maryland Strategic Energy Investment Fund to the Climate Technology Founder’s 21
	359	+	Fund established under § 10–859 of the Economic Development Article, as enacted by 22
	360	+	Section 2 of this Act. 23
208	361
209		-	(E) (1) THE FUND MAY BE USED ONLY TO: 11
210		-
211		-	(I) EVALUATE AND COORDIN ATE FINANCING FOR QU ALIFIED 12
212		-	PROJECTS RELATED TO THE PURPOSE OF THE FUND; 13
213		-
214		-	(II) PROVIDE FINANCING TO QUALIFIED PROJECTS ; 14
215		-
216		-	(III) SECURE PRIVATE INVES TMENT CAPITAL FOR FI NANCING OF 15
217		-	QUALIFIED PROJECTS; AND 16
218		-
219		-	(IV) SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION , 17
220		-	ADMINISTER THE FUND AND THE ACTIVITI ES OF THE CENTER IN CARRYING OU T 18
221		-	THIS PART. 19
222		-
223		-	(2) NOT MORE THAN 10% OF THE FUND BALANCE MAY BE U SED FOR 20
224		-	ADMINISTRATIVE PURPO SES. 21
225		-
226		-	(F) IN DETERMINI NG THE QUALIFIED PROJECTS T O RECEIVE FINANCING 22
227		-	FROM THE FUND, THE DEPARTMENT SHALL GIVE PREFERENC E TO COMPANIES 23
228		-	THAT ARE SMALL, MINORITY, WOMEN–OWNED, AND VETERAN –OWNED BUSINESSES 24
229		-	IN THE CLEAN ENERGY INDUSTRY. 25
230		-
231		-	(G) (1) EXPENDITURES FROM THE FUND MAY BE MADE ONLY WITH 26
232		-	APPROVAL OF THE FUND OVERSIGHT COMMITTEE. 27
233		-
234		-	(2) A RECIPIENT OF FINANCI AL ASSISTANCE UNDER THIS SECTION 28
235		-	SHALL PROVIDE MATCHI NG FUNDS FOR THE QUA LIFIED PROJECT EQUAL TO THE 29 6 HOUSE BILL 1220
236		-
237		-
238		-	AMOUNT OF FINANCIAL ASSISTANCE AWARDED F ROM THE FUND. 1
239		-
240		-	(H) ON OR BEFORE OCTOBER 1 EACH YEAR, THE CENTER SHALL REPORT 2
241		-	TO THE GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE 3
242		-	GOVERNMENT ARTICLE, THE GENERAL ASSEMBLY ON THE USE O F THE FUND AND 4
243		-	OUTCOMES OF INVESTME NTS MADE FROM THE FUND. 5
244		-
245		-	10–860. RESERVED. 6
246		-
247		-	10–861. RESERVED. 7
248		-
249		-	Article – State Finance and Procurement 8
250		-
251		-	6–226. 9
252		-
253		-	(a) (2) (i) Notwithstanding any other provision of law, and unless 10
254		-	inconsistent with a federal law, grant agreement, or other federal requirement or with the 11
255		-	terms of a gift or settlement agreement, net interest on all State money allocated by the 12
256		-	State Treasurer under this section to special funds or accounts, and otherwise entitled to 13
257		-	receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 14
258		-	Fund of the State. 15
259		-
260		-	(ii) The provisions of subparagraph (i) of this paragraph do not apply 16
261		-	to the following funds: 17
262		-
263		-	189. the Teacher Retention and Development Fund; [and] 18
264		-
265		-	190. the Protecting Against Hate Crimes Grant Fund; AND 19
266		-
267		-	191. THE CLIMATE TECHNOLO GY FOUNDER’S FUND. 20
268		-
269		-	Article – State Government 21
270		-
271		-	9–20B–05. 22
272		-
273		-	(f) The Administration shall use the Fund: 23
274		-
275		-	[(9) subject to subsections (f–1) and (f–3) of this section, to provide 24
276		-	$7,000,000 in funding for access to capital for small, minority, women–owned, and 25
277		-	veteran–owned businesses in the clean energy industry under § 5–1501 of the Economic 26
278		-	Development Article, allocated in annual increments as follows: 27
279		-
280		-	(i) $200,000 in fiscal year 2021; 28
281		-
282		-	(ii) $500,000 in fiscal year 2022; 29
283		-	HOUSE BILL 1220 7
284		-
285		-
286		-	(iii) $500,000 in fiscal year 2023; 1
287		-
288		-	(iv) $1,000,000 in fiscal year 2024; and 2
289		-
290		-	(v) $1,200,000 in each fiscal year from 2025 through 2028;] 3
291		-
292		-	(9) TO PROVIDE AT LEAST $1,200,000 IN EACH FISCAL YEAR FOR 4
293		-	FISCAL YEAR 2025 THROUGH FISCAL YEAR 2028 TO THE CLIMATE TECHNOLOGY 5
294		-	FOUNDER’S FUND ESTABLISHED UNDE R § 10–858 OF THE ECONOMIC 6
295		-	DEVELOPMENT ARTICLE; 7
296		-
297		-	(10) subject to subsections [(f–2) and (f–3)] (F–1) AND (F–2) of this section, 8
298		-	to invest in pre–apprenticeship, youth apprenticeship, and registered apprenticeship 9
299		-	programs to establish career paths in the clean energy industry under § 11–708.1 of the 10
300		-	Labor and Employment Article, as follows: 11
301		-
302		-	(i) $1,250,000 for grants to pre–apprenticeship jobs training 12
303		-	programs under § 11–708.1(c)(3) of the Labor and Employment Article starting in fiscal 13
304		-	year 2021 until all amounts are spent; 14
305		-
306		-	(ii) $6,000,000 for grants to youth apprenticeship jobs training 15
307		-	programs and registered apprenticeship jobs training programs under § 11–708.1(c)(5) of 16
308		-	the Labor and Employment Article starting in fiscal year 2021 until all amounts are spent; 17
309		-	and 18
310		-
311		-	(iii) $750,000 for the recruitment of individuals, including veterans 19
312		-	and formerly incarcerated individuals, to the pre–apprenticeship jobs training programs 20
313		-	and the registered apprenticeship jobs training programs under § 11–708.1 of the Labor 21
314		-	and Employment Article starting in fiscal year 2021 until all amounts are spent; 22
315		-
316		-	(11) subject to subsection [(f–4)] (F–3) of this section, to provide at least 23
317		-	$2,100,000 in funding each fiscal year to the Maryland Energy Innovation Fund established 24
318		-	under § 10–835 of the Economic Development Article; 25
319		-
320		-	[(f–1) (1) Any funding provided under subsection (f)(9) of this section that is not 26
321		-	spent in a given fiscal year shall revert to the Fund in the following fiscal year. 27
322		-
323		-	(2) Funding that is provided for access to capital for small, minority, 28
324		-	women–owned, and veteran–owned businesses under subsection (f)(9) of this section shall 29
325		-	be used to provide grants to eligible fund managers to provide investment capital, including 30
326		-	equity and similar investments, and loans to small, minority, women–owned, and 31
327		-	veteran–owned businesses in the State in the clean energy industry. 32
328		-
329		-	(3) Eligible fund managers receiving grants under subsection (f)(9) of this 33
330		-	section may use a portion of the money received to pay ordinary and reasonable expenses 34
331		-	for administrative, actuarial, legal, marketing, and technical services and management 35 8 HOUSE BILL 1220
332		-
333		-
334		-	fees. 1
335		-
336		-	(4) The Administration may provide additional funding for the purposes 2
337		-	stated in subsection (f)(9) of this section.] 3
338		-
339		-	[(f–2)] (F–1) An $8,000,000 payment for workforce development programs under 4
340		-	subsection (f)(10) of this section starting in fiscal year 2021 shall be derived from the 5
341		-	Renewable Energy, Climate Change account of the Fund. 6
342		-
343		-	[(f–3)] (F–2) Funding under subsection [(f)(9) and (10)] (F)(10) of this section for 7
344		-	access to capital, investment, promotion, or implementation should be directed only to 8
345		-	businesses that agree to create and maintain jobs that promote family–sustaining wages, 9
346		-	employer–provided health care with affordable deductibles and co –pays, career 10
347		-	advancement training, fair scheduling, employer–paid workers’ compensation and 11
348		-	unemployment insurance, a retirement plan, paid time off, and the right to bargain 12
349		-	collectively for wages and benefits. 13
350		-
351		-	[(f–4)] (F–3) Of the funds transferred to the Maryland Energy Innovation Fund 14
352		-	under subsection (f)(11) of this section: 15
353		-
354		-	(1) at least $1,200,000 may be used to fund the Maryland Clean Energy 16
355		-	Center established under § 10–806 of the Economic Development Article; and 17
356		-
357		-	(2) at least $900,000 may be used to fund the Maryland Energy Innovation 18
358		-	Institute established under § 10–829 of the Economic Development Article. 19
359		-
360		-	SECTION 3. AND BE IT FURTHER ENACTED, That notwithstanding any other 20
361		-	provision of law, on or before June 30, 2024, the Governor may transfer up to $2,200,000 of 21
362		-	the funds in the Small, Minority, and Women–Owned Businesses Account established 22
363		-	under § 5–1501 of the Economic Development Article that are attributable to funds from 23
364		-	the Maryland Strategic Energy Investment Fund to the Climate Technology Founder’s 24
365		-	Fund established under § 10–859 of the Economic Development Article, as enacted by 25
366		-	Section 2 of this Act. 26
367		-
368		-	SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall take effect June 27
369		-	1, 2024. 28
	362	+	SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall take effect June 24
	363	+	1, 2024. 25
370	364