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Bill > SB549
MD SB549
MD SB549Economic Development – Build Our Future Grant Pilot Program and Fund (Innovation Economy Infrastructure Act of 2023)
summary
Introduced
02/06/2023
02/06/2023
In Committee
03/31/2023
03/31/2023
Crossed Over
03/20/2023
03/20/2023
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 Maryland Department of Commerce to provide funding for infrastructure projects in eligible technology sectors, such as advanced manufacturing, aerospace, and biotechnology. The program will award grants to private companies, nonprofit entities, local governments, and colleges and universities, with a requirement for matching funds from the grantees. The bill also creates the Build Our Future Grant Fund, a special, non-lapsing fund, to finance the program. The pilot program will run for 4 years before terminating, and any remaining funds will revert to the state's General Fund.
Committee Categories
Budget and Finance
Sponsors (28)
Malcolm Augustine (D)*,
Jack Bailey (R),
Pamela Beidle (D),
Joanne Benson (D),
Mary Beth Carozza (R),
Jill Carter (D),
Paul Corderman (R),
Sarah Elfreth (D),
Arthur Ellis (D),
Brian Feldman (D),
Dawn Gile (D),
Guy Guzzone (D),
Katie Hester (D),
Shelly Hettleman (D),
Michael Jackson (D),
Mary-Dulany James (D),
J.B. Jennings (R),
Nancy King (D),
Kathy Klausmeier (D),
Cory McCray (D),
Anthony Muse (D),
Jim Rosapepe (D),
Johnny Salling (R),
Charles Sydnor (D),
Jeff Waldstreicher (D),
Ron Watson (D),
Chris West (R),
Craig Zucker (D),
Last Action
Approved by the Governor - Chapter 431 (on 05/08/2023)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0549?ys=2023RS |
| BillText | https://mgaleg.maryland.gov/2023RS/Chapters_noln/CH_431_sb0549t.pdf |
| Vote Image | https://mgaleg.maryland.gov/2023RS/votes_comm/sb0549_w&m.pdf |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/sb/sb0549t.pdf |
| Favorable with Amendments 393522/1 Adopted | https://mgaleg.maryland.gov/2023RS/amds/bil_0009/sb0549_39352201.pdf |
| Vote Image | https://mgaleg.maryland.gov/2023RS/votes_comm/sb0549_b&t.pdf |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/sb/sb0549f.pdf |
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