Bills of Interest

SB 437
Public Health - Expensive Drugs - Manufacturer Reporting and Drug Price Transparency Advisory Committee

Requiring, on or before March 31 each year, the manufacturer of an expensive drug sold or offered for sale in the State to file with the Secretary of Health and Mental Hygiene a specified annual report; establishing the Drug Price Transparency Advisory Committee; requiring a manufacturer of an expensive drug to file a notice with the Secretary before increasing a specified price or a specified cost by more than a specified percentage or amount during specified periods of time; etc.

Sponsor: Senator Conway
Committee: Finance

HB 161
Department of Commerce - Maryland Economic Development Assistance Authority and Fund - Renaming and Restructuring

Renaming the Maryland Economic Development Assistance Authority and the Maryland Economic Development Assistance Fund to be the Advantage Maryland Fund Authority and the Advantage Maryland Fund; repealing from the scope of the Authority and the Fund grants to local economic development funds; repealing from the scope of the Authority and the Fund loans to child care facilities to improve child care services; altering the scope of financial assistance provided under the Fund; establishing a specified reporting requirement; etc.     

Sponsor: Chair, Economic Matters Committee
Committee: Economic Matters

SB 226
Biotechnology Investment Tax Credit - Qualified Maryland Biotechnology Company - Definition

Altering the definition of "qualified Maryland biotechnology company" to extend a specified period of time from a specified date that an active business may claim the biotechnology tax credit; and applying the Act to initial tax credit certificates issued after June 30, 2017.                                                                        

Sponsor: Senator Manno
Committee: Budget and Taxation

HB 240
Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts

Increasing the maximum total amount of research and development tax credits that the Department of Commerce may approve in specified calendar years; and applying the Act to all research and development tax credits certified after December 15, 2016.                                                                                       

Sponsor: Delegate Walker
Committee: Ways and Means

SB 200
Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts

SB200 increases the maximum total amount of research and development tax credits that the Department of Commerce may approve in specified calendar years.  It applies to all research and development tax credits certified after December 15, 2016.  This bill expands the existing research and development (“R&D”) tax credit by increasing from $9 million to $20 million the aggregate amount of credits that the Department of Commerce (“Commerce”) can approve in each calendar year, phased in over three years. The bill takes effect July 1, 2017.                                                             

Sponsor: Senator King
Committee: Budget and Taxation

HB 378/SB 319
Cybersecurity Investment Incentive Tax Credit – (Governor’s agenda)

HB378/SB319 alter the eligibility criteria under the cybersecurity investment incentive tax credit to provide the credit to a specified qualified investor in a specified qualified Maryland cybersecurity company rather than providing the credit to the company.  These bills extend the termination date of the credit from June 30, 2019, to June 30, 2023.  The purpose is to alter the eligibility criteria for the cybersecurity investment incentive tax credit to provide the credit to a certain qualified investor in a certain qualified Maryland cybersecurity company rather than providing the credit to the company.  The bills extend the termination date of the credit.