Bill
Bill > SB900
summary
Introduced
02/15/2023
02/15/2023
In Committee
03/08/2023
03/08/2023
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) SENATE BILL 900 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 (the "Fund") within the Maryland Clean Energy Center (the "Center"). The Fund's purpose is to provide early-stage funding for start-up companies focused on projects related to climate technologies, such as solar energy, wind energy, energy storage, grid modernization, and carbon capture. The Center will administer the Fund and establish a Fund Oversight Committee to manage it. The Fund can be used to evaluate and coordinate financing for qualified projects, provide financing to qualified projects, and secure private investment capital for qualified projects. The Fund consists of money appropriated in the State budget, private contributions, federal grants or programs, and various other sources. For fiscal year 2025, the Governor is required to include a $500,000 appropriation to the Fund in the annual budget bill.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Budget and Taxation Hearing (15:00:00 3/15/2023 ) (on 03/15/2023)
Taxonomy
Energy
- ‐ Alternative and Renewable Energy
Environment
- ‐ Air Pollution, Global Warming, and Noise Pollution
Macroeconomics
- ‐ Industrial Policy
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/SB0900?ys=2023RS | 02/15/2023 |
| BillText | https://mgaleg.maryland.gov/2023RS/bills/sb/sb0900f.pdf | 02/15/2023 |
Loading...