Maryland 2025 Regular Session

Maryland Senate Bill SB302 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		sb0302
9	6
10	7		SENATE BILL 302
11	8		C8 5lr2065
12		-	CF ~~HB 1450~~
	9	+	CF 5lr1879
13	10		By: Senator Lam
14	11		Introduced and read first time: January 13, 2025
15	12		Assigned to: Finance
16		-	Committee Report: Favorable
17		-	Senate action: Adopted
18		-	Read second time: February 11, 2025
19	13
20		-	~~CHAPTER ______~~
	14	+	A BILL ENTITLED
21	15
22	16		AN ACT concerning 1
23	17
24	18		Maryland Small Business Innovation Research and Technology Transfer 2
25	19		Incentive Program – Alterations 3
26	20
27	21		FOR the purpose of repealing certain provisions of law specifying certain limitations on 4
28	22		awards or investments provided to certain small businesses under the Maryland 5
29	23		Small Business Innovation Research and Technology Transfer Incentive Program; 6
30	24		and generally relating to the Maryland Small Business Innovation Research and 7
31	25		Technology Transfer Incentive Program. 8
32	26
33	27		BY repealing and reenacting, without amendments, 9
34	28		Article – Economic Development 10
35	29		Section 10–474(a) and (b) 11
36	30		Annotated Code of Maryland 12
37	31		(2024 Replacement Volume and 2024 Supplement) 13
38	32
39	33		BY repealing and reenacting, with amendments, 14
40	34		Article – Economic Development 15
41	35		Section 10–476 16
42	36		Annotated Code of Maryland 17
43	37		(2024 Replacement Volume and 2024 Supplement) 18
44	38
	39	+
	40	+
45	41		SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 19
46	42		That the Laws of Maryland read as follows: 20
47	43
48		-	Article – Economic Development 21 2 SENATE BILL 302
	44	+	Article – Economic Development 21
	45	+
	46	+	10–474. 22
	47	+	2 SENATE BILL 302
	48	+
	49	+
	50	+	(a) There is a Maryland Small Business Innovation Research and Technology 1
	51	+	Transfer Incentive Program. 2
	52	+
	53	+	(b) The Corporation shall administer the Program. 3
	54	+
	55	+	10–476. 4
	56	+
	57	+	(a) An applicant shall submit an application for a Program award or investment 5
	58	+	on the form that the Corporation requires. 6
	59	+
	60	+	(b) The Program shall review the application and all supporting materials to 7
	61	+	evaluate whether the applicant qualifies for an award or investment from the Program. 8
	62	+
	63	+	(c) (1) Subject to the availability of money in the Fund and paragraph (2) of 9
	64	+	this subsection, the Program may provide to an eligible small business an award or 10
	65	+	investment to match in part a small business innovation research award or small business 11
	66	+	technology transfer award. 12
	67	+
	68	+	(2) The Program shall prioritize providing awards and investments to 13
	69	+	eligible small businesses that are engaged in research and development activities that 14
	70	+	assist in the prevention of, preparedness for, or response to a public health crisis in the 15
	71	+	State. 16
	72	+
	73	+	(d) [Except as provided in subsection (f) of this section, a small business that 17
	74	+	receives an award or investment for a Phase I small business innovation research award 18
	75	+	or small business technology transfer award shall receive an award or investment in an 19
	76	+	amount that is the lesser of: 20
	77	+
	78	+	(1) 25% of the Phase I small business innovation research award or small 21
	79	+	business technology transfer award; or 22
	80	+
	81	+	(2) $25,000. 23
	82	+
	83	+	(e) Except as provided in subsection (f) of this section, a small business that 24
	84	+	receives an award or investment for a Phase II small business innovation research award 25
	85	+	or small business technology transfer award shall receive an award or investment in an 26
	86	+	amount that is the lesser of: 27
	87	+
	88	+	(1) 25% of the Phase II small business innovation research award or small 28
	89	+	business technology transfer award; or 29
	90	+
	91	+	(2) $75,000. 30
	92	+
	93	+	(f) On the recommendation of the Executive Director, the Board may approve an 31
	94	+	award or investment in a small business in excess of the limitations specified under 32
	95	+	subsections (d) and (e) of this section if the Board determines that the award is necessary 33
	96	+	to better serve the community and the purposes of the Program. 34 SENATE BILL 302 3
49	97
50	98
51	99
52		-	~~10–474.~~ 1
	100	+	(g) During each fiscal year: 1
53	101
54		-	(a) There is a Maryland Small Business Innovation Research and Technology 2
55		-	Transfer Incentive Program. 3
	102	+	(1) the Corporation may not provide more than 20 awards or investments 2
	103	+	in accordance with subsection (d) of this section or more than 10 awards or investments in 3
	104	+	accordance with subsection (e) of this section; and 4
56	105
57		-	(b) ~~The Corporation shall administer the Program~~. 4
	106	+	(2) a small business may not receive more than one award or investment. 5
58	107
59		-	~~10–476. 5~~
	108	+	(h)] A small business may not receive: 6
60	109
61		-	(a) ~~An applicant shall submit an application for a Program~~ award or investment 6
62		-	~~on the form that the Corporation requires. 7~~
	110	+	(1) MORE THAN ONE AWARD OR INVESTMENT DURING EACH FISCAL 7
	111	+	YEAR; AND 8
63	112
64		-	(b) The Program shall review the application and all supporting materials to 8
65		-	evaluate whether the applicant qualifies for an award or investment from the Program. 9
	113	+	(2) more than three awards or investments under this part. 9
66	114
67		-	(c) (1) Subject to the availability of money in the Fund and paragraph (2) of 10
68		-	this subsection, the Program may provide to an eligible small business an award or 11
69		-	investment to match in part a small business innovation research award or small business 12
70		-	technology transfer award. 13
	115	+	[(i)] (E) (1) Subject to paragraph (2) of this subsection, each quarter, the 10
	116	+	Corporation shall provide awards and investments on a competitive basis to eligible small 11
	117	+	businesses. 12
71	118
72		-	(2) The Program shall prioritize providing awards and investments to 14
73		-	eligible small businesses that are engaged in research and development activities that 15
74		-	assist in the prevention of, preparedness for, or response to a public health crisis in the 16
75		-	State. 17
	119	+	(2) In providing an award or investment under this section, the 13
	120	+	Corporation: 14
76	121
77		-	(d) [Except as provided in subsection (f) of this section, a small business that 18
78		-	receives an award or investment for a Phase I small business innovation research award 19
79		-	or small business technology transfer award shall receive an award or investment in an 20
80		-	amount that is the lesser of: 21
	122	+	(i) shall consider: 15
81	123
82		-	(1~~) 25%~~ of the ~~Phase I small business innovation research~~ award or small 22
83		-	business ~~technology transfer award~~; ~~or 23~~
	124	+	1. the impact of the award or investment on the small 16
	125	+	business; and 17
84	126
85		-	(2) $25,000. 24
	127	+	2. how the small business will utilize the award or 18
	128	+	investment toward commercialization of the research conducted by the small business; and 19
86	129
87		-	(e) Except as provided in subsection (f) of this section, a small business that 25
88		-	receives an award or investment for a Phase II small business innovation research award 26
89		-	or small business technology transfer award shall receive an award or investment in an 27
90		-	amount that is the lesser of: 28
	130	+	(ii) may consider any additional criteria specified by the Corporation 20
	131	+	in regulation. 21
91	132
92		-	(1) ~~25% of~~ the ~~Phase II small business innovation research award or small 29~~
93		-	~~business technology transfer award; or 30~~
	133	+	[(j)] (F) The Program shall coordinate with comparable State and county 22
	134	+	programs to: 23
94	135
95		-	(2) $75,000. 31
96		-	SENATE BILL 302 3
	136	+	(1) conduct marketing and outreach, including conducting joint workshops, 24
	137	+	online training opportunities, and outreach to economically disadvantaged small 25
	138	+	businesses, minority–owned small businesses, women–owned small businesses, rural small 26
	139	+	businesses, and first–time small business innovation research award or small business 27
	140	+	technology transfer award applicants; and 28
	141	+
	142	+	(2) provide assistance to eligible businesses under this part. 29
	143	+	4 SENATE BILL 302
97	144
98	145
99		-	(f) On the recommendation of the Executive Director, the Board may approve an 1
100		-	award or investment in a small business in excess of the limitations specified under 2
101		-	subsections (d) and (e) of this section if the Board determines that the award is necessary 3
102		-	to better serve the community and the purposes of the Program. 4
	146	+	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 1
	147	+	1, 2025. 2
103	148
104		-	(g) During each fiscal year: 5
105		-
106		-	(1) the Corporation may not provide more than 20 awards or investments 6
107		-	in accordance with subsection (d) of this section or more than 10 awards or investments in 7
108		-	accordance with subsection (e) of this section; and 8
109		-
110		-	(2) a small business may not receive more than one award or investment. 9
111		-
112		-	(h)] A small business may not receive: 10
113		-
114		-	(1) MORE THAN ONE AWARD OR INVESTMENT DURING EACH FISCAL 11
115		-	YEAR; AND 12
116		-
117		-	(2) more than three awards or investments under this part. 13
118		-
119		-	[(i)] (E) (1) Subject to paragraph (2) of this subsection, each quarter, the 14
120		-	Corporation shall provide awards and investments on a competitive basis to eligible small 15
121		-	businesses. 16
122		-
123		-	(2) In providing an award or investment under this section, the 17
124		-	Corporation: 18
125		-
126		-	(i) shall consider: 19
127		-
128		-	1. the impact of the award or investment on the small 20
129		-	business; and 21
130		-
131		-	2. how the small business will utilize the award or 22
132		-	investment toward commercialization of the research conducted by the small business; and 23
133		-
134		-	(ii) may consider any additional criteria specified by the Corporation 24
135		-	in regulation. 25
136		-
137		-	[(j)] (F) The Program shall coordinate with comparable State and county 26
138		-	programs to: 27
139		-
140		-	(1) conduct marketing and outreach, including conducting joint workshops, 28
141		-	online training opportunities, and outreach to economically disadvantaged small 29
142		-	businesses, minority–owned small businesses, women–owned small businesses, rural small 30
143		-	businesses, and first–time small business innovation research award or small business 31
144		-	technology transfer award applicants; and 32 4 SENATE BILL 302
145		-
146		-
147		-
148		-	(2) provide assistance to eligible businesses under this part. 1
149		-
150		-	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 2
151		-	1, 2025. 3
152		-
153		-
154		-
155		-
156		-	Approved:
157		-	________________________________________________________________________________
158		-	Governor.
159		-	________________________________________________________________________________
160		-	President of the Senate.
161		-	________________________________________________________________________________
162		-	Speaker of the House of Delegates.