Bill > SB25

This bill establishes the "Buy Maryland Cybersecurity Tax Credit" to encourage Maryland businesses and nonprofits to purchase cybersecurity technologies and services from Maryland-based companies, thereby supporting the state's cybersecurity industry and protecting business and customer information. The credit allows a "qualified buyer" (any entity required to file an income tax return in the state) to claim 50% of the cost of eligible cybersecurity purchases from a "qualified seller" (a cybersecurity business with its headquarters and base of operations in Maryland, meeting certain revenue and ownership criteria, and providing proprietary technology or services). The bill increases the aggregate amount of credits that can be issued for purchases from a single qualified seller from $200,000 to $1,000,000 per taxable year, and importantly, makes the credit refundable, meaning if the credit exceeds the tax owed, the buyer can receive the difference as a refund. The bill also removes a previous requirement for a panel of experts to review applications and clarifies that the credit is available for taxable years beginning after December 31, 2025, and will not be approved for taxable years beginning after December 31, 2030.

Budget and Finance

Budget and Taxation (Senate)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0025?ys=2026RS