Bill > HB290

This bill modifies the existing "Buy Maryland Cybersecurity Tax Credit" program, which aims to encourage Maryland businesses and nonprofits to purchase cybersecurity technologies and services from Maryland-based companies to enhance their security and protect sensitive information. Key changes include expanding the definition of a "qualified seller" to include businesses with up to $10,000,000 in annual revenue (up from $5,000,000) and adding criteria for businesses owned by individuals from historically disadvantaged groups, as well as veteran-owned and service-disabled-veteran-owned businesses. The bill also increases the maximum aggregate credits that can be claimed for purchases from a single qualified seller from $200,000 to $1,000,000, and removes a previous requirement for the Department of Commerce to establish an expert panel to review applications, streamlining the approval process. The credit itself remains at 50% of the cost of eligible cybersecurity technology or services, with a cap of $50,000 per qualified buyer, and the program is extended until taxable years beginning after December 31, 2030.

Budget and Finance

Ways and Means (House)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0290?ys=2026RS