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Bill > HB552
MD HB552
MD HB552Economic Development - Build Our Future Grant Pilot Program and Fund (Innovation Economy Infrastructure Act of 2023)
summary
Introduced
02/02/2023
02/02/2023
In Committee
03/27/2023
03/27/2023
Crossed Over
03/15/2023
03/15/2023
Passed
04/03/2023
04/03/2023
Dead
Signed/Enacted/Adopted
05/08/2023
05/08/2023
Introduced Session
2023 Regular Session
Bill Summary
AN ACT concerning Economic Development - Build Our Future Grant Pilot Program and Fund (Innovation Economy Infrastructure Act of 2023) FOR the purpose of establishing the Build Our Future Grant Pilot Program in the Department of Commerce to provide funding for certain costs for infrastructure projects in eligible technology sectors; requiring certain grantees to provide matching funds and to demonstrate certain abilities; establishing the Build Our Future Grant Fund as a special, nonlapsing fund; and generally relating to the Build Our Future Grant Pilot Program and Fund. BY repealing and reenacting, with amendments, Article - Economic Development Section 5-102 Annotated Code of Maryland (2018 Replacement Volume and 2022 Supplement) BY adding to Article - Economic Development Section 5-2301 through 5-2307 to be under the new subtitle “Subtitle 23. Build Our Future Grant Pilot Program” Annotated Code of Maryland (2018 Replacement Volume and 2022 Supplement) BY repealing and reenacting, without amendments, Article - State Finance and Procurement Section 6-226(a)(2)(i) Annotated Code of Maryland (2021 Replacement Volume and 2022 Supplement) BY repealing and reenacting, with amendments, Article - State Finance and Procurement Section 6-226(a)(2)(ii)170. and 171. Annotated Code of Maryland (2021 Replacement Volume and 2022 Supplement) BY adding to Article - State Finance and Procurement Section 6-226(a)(2)(ii)172. Annotated Code of Maryland (2021 Replacement Volume and 2022 Supplement)
AI Summary
This bill establishes the Build Our Future Grant Pilot Program in the Department of Commerce to provide funding for infrastructure projects in eligible technology sectors, such as advanced manufacturing, aerospace, and biotechnology. The bill creates the Build Our Future Grant Fund as a special, non-lapsing fund to finance these grants. Grantees must provide matching funds and demonstrate their ability to cover the full estimated costs of the project. The bill also limits the amount of funding that can be awarded to colleges and universities and requires the Department to report on the projects funded and the economic impact of the program by July 1, 2026. The bill will be in effect for 4 years, after which it will be automatically repealed.
Committee Categories
Budget and Finance
Sponsors (64)
Jackie Addison (D)*,
Nick Allen (D),
Marlon Amprey (D),
Carl Anderton (R),
Dalya Attar (D),
Heather Bagnall (D),
Harry Bhandari (D),
Adrian Boafo (D),
Jason Buckel (R),
Jon Cardin (D),
Nick Charles (D),
Frank Conaway (D),
Brian Crosby (D),
Charlotte Crutchfield (D),
Bonnie Cullison (D),
Debra Davis (D),
Eric Ebersole (D),
Mark Edelson (D),
Elizabeth Embry (D),
Diana Fennell (D),
Linda Foley (D),
David Fraser-Hidalgo (D),
Brooke Grossman (D),
Michele Guyton (D),
Kevin Harris (D),
Anne Healey (D),
Shaneka Henson (D),
Marvin Holmes (D),
Kevin Hornberger (R),
Dana Jones (D),
Aaron Kaufman (D),
Ariana Kelly (D),
Ken Kerr (D),
Jeff Long (D),
Lesley Lopez (D),
Aletheia McCaskill (D),
Susan McComas (R),
Cheryl Pasteur (D),
Edith Patterson (D),
Scott Phillips (D),
Lily Qi (D),
Pam Queen (D),
Kirill Reznik (D),
Sandy Rosenberg (D),
Sheila Ruth (D),
Sheree Sample-Hughes (D),
Emily Shetty (D),
Karen Simpson (D),
Stephanie Smith (D),
Jared Solomon (D),
Dana Stein (D),
Deni Taveras (D),
Karen Toles (D),
Veronica Turner (D),
Kris Valderrama (D),
Joe Vogel (D),
Courtney Watson (D),
Melissa Wells (D),
Jheanelle Wilkins (D),
Nicole Williams (D),
William Wivell (R),
Jamila Woods (D),
Chao Wu (D),
Caylin Young (D),
Last Action
Approved by the Governor - Chapter 430 (on 05/08/2023)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0552?ys=2023RS |
| BillText | https://mgaleg.maryland.gov/2023RS/Chapters_noln/CH_430_hb0552t.pdf |
| Vote Image | https://mgaleg.maryland.gov/2023RS/votes_comm/hb0552_b&t.pdf |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/hb/hb0552t.pdf |
| Favorable with Amendments 163326/1 Adopted | https://mgaleg.maryland.gov/2023RS/amds/bil_0002/hb0552_16332601.pdf |
| Vote Image | https://mgaleg.maryland.gov/2023RS/votes_comm/hb0552_w&m.pdf |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/hb/hb0552f.pdf |
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