EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0746*
SENATE BILL 746
C8 4lr2615
By: Senator Guzzone
Introduced and read first time: February 1, 2024
Assigned to: Finance
A BILL ENTITLED
AN ACT concerning 1
Winery and Vineyard Economic Development Grant Program – Modifications 2
FOR the purpose of altering procedures for the claiming and awarding of grants under the 3
Winery and Vineyard Economic Development Grant Program; and generally relating 4
to the Winery and Vineyard Economic Development Grant Program. 5
BY repealing and reenacting, with amendments, 6
Article – Economic Development 7
Section 5–2003(b) 8
Annotated Code of Maryland 9
(2018 Replacement Volume and 2023 Supplement) 10
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 11
That the Laws of Maryland read as follows: 12
Article – Economic Development 13
5–2003. 14
(b) (1) [By September 15 of the calendar year in which the qualified capital 15
expenses are paid or incurred, an] AN individual or a corporation WHO PAID OR 16
INCURRED QUALIFIED C APITAL EXPENSES DURI NG THE IMMEDIATELY P RECEDING 17
CALENDAR YEAR may submit an application to the Department for a grant authorized 18
under this section. 19
(2) (i) For any fiscal year, the total amount of grants approved by the 20
Department under this section may not exceed the total appropriation for the Program for 21
that fiscal year. 22
(ii) If the total amount of grants applied for under this section 23 2 SENATE BILL 746
exceeds the maximum specified under subparagraph (i) of this paragraph, the Department 1
shall approve a grant for each applicant in an amount equal to the product of multiplying 2
the amount applied for by the applicant times a fraction: 3
1. the numerator of which is the maximum specified under 4
subparagraph (i) of this paragraph; and 5
2. the denominator of which is the total of all grants applied 6
for by all applicants for that calendar year. 7
(3) [On or before December 15 each year, the] THE Department shall 8
award the grants authorized under this section to each eligible applicant. 9
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 10
1, 2024. 11