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MD SB473
MD SB473Economic Development - Entrepreneurial Innovation Programs - Establishment (Pava LaPere Legacy of Innovation Act of 2024)
summary
Introduced
01/22/2024
01/22/2024
In Committee
04/01/2024
04/01/2024
Crossed Over
03/18/2024
03/18/2024
Passed
04/04/2024
04/04/2024
Dead
Signed/Enacted/Adopted
05/16/2024
05/16/2024
Introduced Session
2024 Regular Session
Bill Summary
Establishing the Pava LaPere Innovation Acceleration Grant Program in the Maryland Technology Development Corporation to provide grants to technology-based startup companies that are founded by students of postsecondary institutions located in and have their principle places of business in the Baltimore-Columbia-Towson Metropolitan Statistical Area; establishing the Baltimore Innovation Initiative Pilot Program within the Maryland Innovation Initiative of the Corporation to provide incentives for and grow certain start-up companies; etc.
AI Summary
This bill establishes the Pava LaPere Innovation Acceleration Grant Program within the Maryland Technology Development Corporation to provide grants of $50,000 to technology-based startup companies founded by students in the Baltimore-Columbia-Towson metropolitan area. It also creates the Baltimore Innovation Initiative Pilot Program within the Maryland Innovation Initiative, which will provide incentives and support for technology startups founded by students or faculty at eligible universities in the Baltimore-Columbia-Towson area. The bill appropriates $1.5 million for the pilot program in fiscal years 2025 and 2026, and requires the Corporation to report on the implementation of the pilot program by July 1, 2027.
Committee Categories
Budget and Finance
Sponsors (16)
Malcolm Augustine (D)*,
Pamela Beidle (D),
Ben Brooks (D),
Jill Carter (D),
Nick Charles (D),
Sarah Elfreth (D),
Bill Ferguson (D),
Dawn Gile (D),
Steve Hershey (R),
Katie Hester (D),
Shelly Hettleman (D),
Clarence Lam (D),
Mike McKay (R),
Justin Ready (R),
Jeff Waldstreicher (D),
Chris West (R),
Last Action
Approved by the Governor - Chapter 711 (on 05/16/2024)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0473?ys=2024RS |
| BillText | https://mgaleg.maryland.gov/2024RS/Chapters_noln/CH_711_sb0473t.pdf |
| Vote Image | https://mgaleg.maryland.gov/2024RS/votes_comm/sb0473_w&m.pdf |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/sb/sb0473t.pdf |
| Favorable with Amendments 753824/1 Adopted | https://mgaleg.maryland.gov/2024RS/amds/bil_0003/sb0473_75382401.pdf |
| Vote Image | https://mgaleg.maryland.gov/2024RS/votes_comm/sb0473_fin.pdf |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/sb/sb0473f.pdf |
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