MD
Maryland Senate Bill SB634

Maryland 2024 Regular Session

Maryland Senate Bill SB634 Compare Versions

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1- WES MOORE, Governor Ch. 626
21
3-– 1 –
4-Chapter 626
5-(Senate Bill 634)
62
7-AN ACT concerning
3+EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
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+ *sb0634*
89
9-Maryland Technology Development Corporation – Authority
10+SENATE BILL 634
11+C8 4lr2588
12+ CF HB 776
13+By: Senator Klausmeier
14+Introduced and read first time: January 29, 2024
15+Assigned to: Finance
16+Committee Report: Favorable
17+Senate action: Adopted
18+Read second time: February 22, 2024
1019
11-FOR the purpose of authorizing the Maryland Technology Development Corporation,
12-subject to a written agreement, to provide certain entities administrative services or
13-support and to receive compensation for providing the services or support; and
14-generally relating to the authority of the Maryland Technology Development
15-Corporation.
20+CHAPTER ______
1621
17-BY repealing and reenacting, with amendments,
18- Article – Economic Development
19-Section 10–408(b)
20- Annotated Code of Maryland
21- (2018 Replacement Volume and 2023 Supplement)
22+AN ACT concerning 1
2223
23- SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
24-That the Laws of Maryland read as follows:
24+Maryland Technology Development Corporation – Authority 2
2525
26-Article – Economic Development
26+FOR the purpose of authorizing the Maryland Technology Development Corporation, 3
27+subject to a written agreement, to provide certain entities administrative services or 4
28+support and to receive compensation for providing the services or support; and 5
29+generally relating to the authority of the Maryland Technology Development 6
30+Corporation. 7
2731
28-10–408.
32+BY repealing and reenacting, with amendments, 8
33+ Article – Economic Development 9
34+Section 10–408(b) 10
35+ Annotated Code of Maryland 11
36+ (2018 Replacement Volume and 2023 Supplement) 12
2937
30- (b) The Corporation may:
38+ SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 13
39+That the Laws of Maryland read as follows: 14
3140
32- (1) adopt bylaws for the conduct of its business;
41+Article – Economic Development 15
3342
34- (2) adopt a seal;
43+10–408. 16
3544
36- (3) maintain offices at a place it designates in the State;
45+ (b) The Corporation may: 17
3746
38- (4) accept loans, grants, or assistance of any kind from the federal or State
39-government, a local government, a college or university, or a private source;
47+ (1) adopt bylaws for the conduct of its business; 18
48+ 2 SENATE BILL 634
4049
41- (5) enter into contracts and other legal instruments;
4250
43- (6) sue or be sued;
51+ (2) adopt a seal; 1
4452
45- (7) acquire, purchase, hold, lease as lessee, and use:
53+ (3) maintain offices at a place it designates in the State; 2
4654
47- (i) a franchise, patent, or license;
55+ (4) accept loans, grants, or assistance of any kind from the federal or State 3
56+government, a local government, a college or university, or a private source; 4
4857
49- (ii) any real, personal, mixed, tangible, or intangible property; or Ch. 626 2024 LAWS OF MARYLAND
58+ (5) enter into contracts and other legal instruments; 5
5059
51-– 2 –
60+ (6) sue or be sued; 6
5261
53- (iii) an interest in the property listed in this item;
62+ (7) acquire, purchase, hold, lease as lessee, and use: 7
5463
55- (8) sell, lease as lessor, transfer, license, assign, or dispose of property or a
56-property interest that it acquires;
64+ (i) a franchise, patent, or license; 8
5765
58- (9) fix and collect rates, rentals, fees, royalties, and charges for services
59-and resources it provides or makes available;
66+ (ii) any real, personal, mixed, tangible, or intangible property; or 9
6067
61- (10) create, own, control, or be a member of a corporation, limited liability
62-company, partnership, or other entity, whether operated for profit or not for profit;
68+ (iii) an interest in the property listed in this item; 10
6369
64- (11) SUBJECT TO A WRITTEN AGREEMENT , PROVIDE ADMINISTRATI VE
65-SUPPORT AND SERVICES TO AN ENTITY DESCRIB ED UNDER ITEM (10) OF THIS
66-SUBSECTION AND RE CEIVE COMPENSATION F OR PROVIDING THE SUP PORT AND
67-SERVICES;
70+ (8) sell, lease as lessor, transfer, license, assign, or dispose of property or a 11
71+property interest that it acquires; 12
6872
69- (12) exercise power usually possessed by a private corporation in performing
70-similar functions unless to do so would conflict with State law; and
73+ (9) fix and collect rates, rentals, fees, royalties, and charges for services 13
74+and resources it provides or makes available; 14
7175
72- [(12)] (13) do all things necessary or convenient to carry out the powers
73-granted by this subtitle.
76+ (10) create, own, control, or be a member of a corporation, limited liability 15
77+company, partnership, or other entity, whether operated for profit or not for profit; 16
7478
75- SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
76-October 1, 2024.
79+ (11) SUBJECT TO A WRITTEN AGREEMENT , PROVIDE ADMINISTRATI VE 17
80+SUPPORT AND SERVICES TO AN ENTITY DESCRIB ED UNDER ITEM (10) OF THIS 18
81+SUBSECTION AND RECEI VE COMPENSATION FOR PROVIDING THE SUPPOR T AND 19
82+SERVICES; 20
7783
78-Approved by the Governor, May 9, 2024.
84+ (12) exercise power usually possessed by a private corporation in performing 21
85+similar functions unless to do so would conflict with State law; and 22
86+
87+ [(12)] (13) do all things necessary or convenient to carry out the powers 23
88+granted by this subtitle. 24
89+
90+ SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 25
91+October 1, 2024. 26