Bill
Bill > HB911
summary
Introduced
02/09/2023
02/09/2023
In Committee
02/09/2023
02/09/2023
Crossed Over
Passed
Dead
04/10/2023
04/10/2023
Introduced Session
2023 Regular Session
Bill Summary
AN ACT concerning Maryland Clean Energy Center - Climate Technology Founder’s Fund - Establishment FOR the purpose of establishing the Climate Technology Founder’s Fund in the Maryland Clean Energy Center; requiring interest earnings of the Fund to be credited to the Fund; and generally relating to the Climate Technology Founder’s Fund within the Maryland Clean Energy Center. BY renumbering Article - Economic Development Section 10-858 and the part “Part VI. Short Title” to be Section 10-862 and the part “Part VII. Short Title” Annotated Code of Maryland (2018 Replacement Volume and 2022 Supplement) BY repealing and reenacting, without amendments, Article - Economic Development Section 10-801(a), (d), and (f) Annotated Code of Maryland (2018 Replacement Volume and 2022 Supplement) BY adding to Article - Economic Development Section 10-858 and 10-859 to be under the new part “Part VI. Climate Technology Founder’s Fund” 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) HOUSE BILL 911 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 Climate Technology Founder's Fund within the Maryland Clean Energy Center. The Fund's purpose is to provide early-stage funding for startup companies focused on qualified projects related to technologies that reduce greenhouse gas emissions, mitigate climate change impacts, or provide negative emission benefits in the electric, oil, or gas sectors. The Fund consists of appropriated state funds, private contributions, federal grants, proceeds from financing activities, and interest earnings. The Center will administer the Fund and establish an oversight committee to manage it. The Fund can be used to evaluate, coordinate, and provide financing for qualified projects, as well as secure private investment capital. The bill also specifies that the interest earnings on the Fund will accrue to the Fund rather than the state's General Fund.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
House Appropriations Hearing (13:00:00 3/14/2023 ) (on 03/14/2023)
Taxonomy
Banking, Finance, and Domestic Commerce
- ‐ Small Business
Energy
- ‐ Alternative and Renewable Energy
- ‐ Research and Development
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0911?ys=2023RS | 02/09/2023 |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/hb/hb0911f.pdf | 02/10/2023 |
Loading...