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MD HB582

MD HB582
Economic Development - Entrepreneurial Innovation Programs - Establishment (Pava LaPere Legacy of Innovation Act of 2024)


summary

Introduced
01/24/2024
In Committee
03/28/2024
Crossed Over
03/13/2024
Passed
04/04/2024
Dead
Signed/Enacted/Adopted
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 start-up companies founded by students from institutions located in the Baltimore-Columbia-Towson Metropolitan Statistical Area; establishing the Baltimore Innovation Initiative Pilot Program within the Maryland Innovation Initiative of the Corporation; requiring certain appropriations for the programs to be included in the annual budget bill in certain fiscal years; etc.

AI Summary

This bill, known as the Pava LaPere Legacy of Innovation Act of 2024, establishes the Pava LaPere Innovation Acceleration Grant Program within the Maryland Technology Development Corporation. The program provides grants of $50,000 to technology-based start-up companies founded by students from institutions located in the Baltimore-Columbia-Towson Metropolitan Statistical Area, with at least 20% of the grant required to be used for technical assistance. Additionally, the bill establishes the Baltimore Innovation Initiative Pilot Program within the Maryland Innovation Initiative, which provides incentives and support for technology start-up companies founded by students or faculty at eligible universities in the Baltimore-Columbia-Towson area. The bill requires specific appropriations for these programs to be included in the annual budget bill for certain fiscal years.

Committee Categories

Budget and Finance

Sponsors (42)

Nick Allen (D)* Marlon Amprey (D),  Carl Anderton (R),  Heather Bagnall (D),  Harry Bhandari (D),  Adrian Boafo (D),  Regina Boyce (D),  Lorig Charkoudian (D),  Frank Conaway (D),  Mark Edelson (D),  Elizabeth Embry (D),  Diana Fennell (D),  Linda Foley (D),  Cathi Forbes (D),  Mike Griffith (R),  Brooke Grossman (D),  Michele Guyton (D),  Pamela Guzzone (D),  Kevin Harris (D),  Terri Hill (D),  Carl Jackson (D),  Andre Johnson (D),  Steve Johnson (D),  Anne Kaiser (D),  Aaron Kaufman (D),  Robbyn Lewis (D),  Lesley Lopez (D),  Sara Love (D),  Edith Patterson (D),  Scott Phillips (D),  Lily Qi (D),  Denise Roberts (D),  Malcolm Ruff (D),  Sheila Ruth (D),  Gary Simmons (D),  Karen Simpson (D),  Jared Solomon (D),  Deni Taveras (D),  Kym Taylor (D),  Chris Tomlinson (R),  Veronica Turner (D),  Natalie Ziegler (D), 

Last Action

Approved by the Governor - Chapter 710 (on 05/16/2024)

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