27 | | - | FOR the purpose of establishing the Maryland Innovation Initiative University Institution 4 |
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28 | | - | Partnership Extension Program; authorizing certain universities public and private 5 |
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29 | | - | nonprofit institutions of higher education to participate in the Program; establishing 6 |
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30 | | - | eligibility criteria for project proposals to receive funding under the Program; 7 |
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31 | | - | requiring authorizing the Governor to include an appropriation in the annual budget 8 |
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32 | | - | bill for certain fiscal years for the Program; altering the purpose and contents of the 9 |
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33 | | - | Maryland Innovation Initiative Fund; and generally relating to the establishment of 10 |
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34 | | - | the Maryland Innovation Initiative University Institution Partnership Extension 11 |
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35 | | - | Program. 12 |
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| 21 | + | FOR the purpose of establishing the Maryland Innovation Initiative University 4 |
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| 22 | + | Partnership Extension Program; authorizing certain universities to participate in 5 |
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| 23 | + | the Program; establishing eligibility criteria for project proposals to receive funding 6 |
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| 24 | + | under the Program; requiring the Governor to include an appropriation in the annual 7 |
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| 25 | + | budget bill for certain fiscal years for the Program; altering the purpose and contents 8 |
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| 26 | + | of the Maryland Innovation Initiative Fund; and generally relating to the 9 |
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| 27 | + | establishment of the Maryland Innovation Initiative University Partnership 10 |
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| 28 | + | Extension Program. 11 |
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37 | | - | BY repealing and reenacting, without amendments, 13 |
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38 | | - | Article – Economic Development 14 |
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39 | | - | Section 10–454(a), (b), and (d), 10–455(a), and 10–457(a) 15 |
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40 | | - | Annotated Code of Maryland 16 |
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41 | | - | (2024 Replacement Volume and 2024 Supplement) 17 |
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| 30 | + | BY repealing and reenacting, without amendments, 12 |
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| 31 | + | Article – Economic Development 13 |
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| 32 | + | Section 10–454(a), (b), and (d), 10–455(a), and 10–457(a) 14 |
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| 33 | + | Annotated Code of Maryland 15 |
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| 34 | + | (2024 Replacement Volume and 2024 Supplement) 16 |
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43 | | - | BY repealing and reenacting, with amendments, 18 |
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44 | | - | Article – Economic Development 19 |
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45 | | - | Section 10–457(b) and (d) 20 |
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46 | | - | Annotated Code of Maryland 21 |
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47 | | - | (2024 Replacement Volume and 2024 Supplement) 22 |
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| 36 | + | BY repealing and reenacting, with amendments, 17 |
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| 37 | + | Article – Economic Development 18 |
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| 38 | + | Section 10–457(b) and (d) 19 |
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| 39 | + | Annotated Code of Maryland 20 |
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| 40 | + | (2024 Replacement Volume and 2024 Supplement) 21 |
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| 41 | + | |
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| 42 | + | BY adding to 22 |
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| 43 | + | Article – Economic Development 23 |
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| 44 | + | Section 10–461 24 |
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| 45 | + | Annotated Code of Maryland 25 |
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| 46 | + | (2024 Replacement Volume and 2024 Supplement) 26 |
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144 | | - | |
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145 | | - | (II) ADVANCE TECHNOLOGY T OWARD COMMERCIALIZAT ION OF 1 |
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146 | | - | A PRODUCT OR SERVICE ; 2 |
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147 | | - | |
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148 | | - | (III) FOSTER ENTREPRENEURI AL DEVELOPMENT AT TH E 3 |
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149 | | - | ELIGIBLE UNIVERSITY INSTITUTION; 4 |
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150 | | - | |
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151 | | - | (IV) CREATE AN OPPORTUNIT Y FOR MEANINGFUL ECONOMIC 5 |
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152 | | - | IMPACT IN THE REGION AROUND THE ELIGIBLE UNIVERSITY INSTITUTION; OR 6 |
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153 | | - | |
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154 | | - | (V) FOSTER COLLABORATION BETWEEN THE ELIGIBLE 7 |
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155 | | - | UNIVERSITY INSTITUTION AND AN INDUSTRY PART NER, INCLUDING: 8 |
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156 | | - | |
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157 | | - | 1. PRODUCT DEVELOPMENT WITH COMMERCIALIZATI ON 9 |
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158 | | - | POTENTIAL; AND 10 |
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159 | | - | |
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160 | | - | 2. MATCHING FUNDS PROVI DED BY THE INDUSTRY 11 |
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161 | | - | PARTNER. 12 |
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162 | | - | |
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163 | | - | (F) (E) (1) THE INITIATIVE SHALL DEVE LOP CRITERIA TO REVI EW, 13 |
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164 | | - | EVALUATE, AND RATE PROJECT PRO POSALS FOR FUNDING U NDER THE PROGRAM. 14 |
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165 | | - | |
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166 | | - | (2) THE EXECUTIVE DIRECTOR SHALL DISTRI BUTE GRANTS TO 15 |
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167 | | - | PROJECTS BASED ON TH E CRITERIA DEVELOPED IN ACCORDANCE WITH P ARAGRAPH 16 |
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168 | | - | (1) OF THIS SUBSECTION . 17 |
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169 | | - | |
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170 | | - | (3) AN ELIGIBLE INSTITUTI ON SHALL PROVIDE A C ASH MATCH 18 |
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171 | | - | EQUIVALENT TO 10% OF THE AMOUNT AWARDE D UNDER PARAGRAPH (2) OF THIS 19 |
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172 | | - | SUBSECTION. 20 |
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173 | | - | |
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174 | | - | (G) (F) (1) FOR FISCAL YEARS 2027 AND 2028, THE GOVERNOR SHALL 21 |
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175 | | - | MAY INCLUDE IN THE ANNUA L BUDGET BILL AN APP ROPRIATION OF $500,000 22 |
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176 | | - | $250,000 FOR THE PROGRAM. 23 |
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177 | | - | |
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178 | | - | (2) THE FUNDING PROVIDED IN THIS SUBSECTION S HALL BE USED TO 24 |
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179 | | - | SUPPLEMENT , NOT SUPPLANT , ANY FUNDS THAT WOULD OTHERWISE BE PROVIDED 25 |
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180 | | - | TO THE INITIATIVE. 26 |
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181 | | - | |
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182 | | - | (H) (G) IN ADDITION TO INFORM ATION ON THE INITIATIVE INCLUDED I N 27 |
---|
183 | | - | THE ANNUAL REPORT OF THE CORPORATION UNDER § 10–415 OF THIS SUBTITLE,: 28 |
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184 | | - | |
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185 | | - | (1) ON OR BEFORE JANUARY 1, 2026, THE CORPORATION SHALL 29 |
---|
186 | | - | REPORT TO THE GOVERNOR AND , IN ACCORDANCE WITH § 2–1257 OF THE STATE 30 |
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187 | | - | GOVERNMENT ARTICLE, THE GENERAL ASSEMBLY ON SIMILAR P ROGRAMS IN 31 |
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188 | | - | NEIGHBORING STATES A ND THE POTENTIAL ECO NOMIC BENEFITS AND C OSTS OF 32 HOUSE BILL 799 5 |
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189 | | - | |
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190 | | - | |
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191 | | - | EXPANDING THE INITIATIVE TO ALL PUB LIC AND PRIVATE NONP ROFIT 1 |
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192 | | - | INSTITUTIONS OF HIGH ER EDUCATION OPERATI NG IN THE STATE; AND 2 |
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193 | | - | |
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194 | | - | (2) ON OR BEFORE JULY 1, 2028, THE CORPORATION SHALL REP ORT 3 |
---|
195 | | - | TO THE GENERAL ASSEMBLY, IN ACCORDANCE WITH § 2–1257 OF THE STATE 4 |
---|
196 | | - | GOVERNME NT ARTICLE, ON THE IMPLEMENTATIO N OF THE PROGRAM. 5 |
---|
197 | | - | |
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198 | | - | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 6 |
---|
199 | | - | 1, 2025. It shall remain effective for a period of 3 years and, at the end of June 30, 2028, 7 |
---|
200 | | - | this Act, with no further action required by the General Assembly, shall be abrogated and 8 |
---|
201 | | - | of no further force and effect. 9 |
---|
| 138 | + | (V) FOSTER COLLABORATION BETWEEN THE ELIGIBLE 29 |
---|
| 139 | + | UNIVERSITY AND AN IN DUSTRY PARTNER , INCLUDING: 30 4 HOUSE BILL 799 |
---|
206 | | - | Approved: |
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207 | | - | ________________________________________________________________________________ |
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208 | | - | Governor. |
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209 | | - | ________________________________________________________________________________ |
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210 | | - | Speaker of the House of Delegates. |
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211 | | - | ________________________________________________________________________________ |
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212 | | - | President of the Senate. |
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| 146 | + | 2. MATCHING FUNDS PROVI DED BY THE INDUSTRY 3 |
---|
| 147 | + | PARTNER. 4 |
---|
| 148 | + | |
---|
| 149 | + | (F) (1) THE INITIATIVE SHALL DEVE LOP CRITERIA TO REVI EW, 5 |
---|
| 150 | + | EVALUATE, AND RATE PROJECT PRO POSALS FOR FUNDING U NDER THE PROGRAM. 6 |
---|
| 151 | + | |
---|
| 152 | + | (2) THE EXECUTIVE DIRECTOR SHALL DISTRI BUTE GRANTS TO 7 |
---|
| 153 | + | PROJECTS BASED ON TH E CRITERIA DEVELOPED IN ACCORDANCE WITH P ARAGRAPH 8 |
---|
| 154 | + | (1) OF THIS SUBSECTION . 9 |
---|
| 155 | + | |
---|
| 156 | + | (G) (1) FOR FISCAL YEARS 2027 AND 2028, THE GOVERNOR SHALL 10 |
---|
| 157 | + | INCLUDE IN THE ANNUA L BUDGET BILL AN APP ROPRIATION OF $500,000 FOR THE 11 |
---|
| 158 | + | PROGRAM. 12 |
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| 159 | + | |
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| 160 | + | (2) THE FUNDING PROVIDED IN THIS SUBSECTION S HALL BE USED TO 13 |
---|
| 161 | + | SUPPLEMENT , NOT SUPPLANT , ANY FUNDS THAT WOULD OTHERWISE BE PROVIDE D 14 |
---|
| 162 | + | TO THE INITIATIVE. 15 |
---|
| 163 | + | |
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| 164 | + | (H) IN ADDITION TO INFORM ATION ON THE INITIATIVE INCLUDED I N THE 16 |
---|
| 165 | + | ANNUAL REPORT OF THE CORPORATION UNDER § 10–415 OF THIS SUBTITLE, ON OR 17 |
---|
| 166 | + | BEFORE JULY 1, 2028, THE CORPORATION SHALL REP ORT TO THE GENERAL 18 |
---|
| 167 | + | ASSEMBLY, IN ACCORDANCE WITH § 2–1257 OF THE STATE GOVERNMENT ARTICLE, 19 |
---|
| 168 | + | ON THE IMPLEMENTATIO N OF THE PROGRAM. 20 |
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| 169 | + | |
---|
| 170 | + | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 21 |
---|
| 171 | + | 1, 2025. It shall remain effective for a period of 3 years and, at the end of June 30, 2028, 22 |
---|
| 172 | + | this Act, with no further action required by the General Assembly, shall be abrogated and 23 |
---|
| 173 | + | of no further force and effect. 24 |
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