Bill
Bill > HB487
summary
Introduced
01/23/2026
01/23/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Requiring the Maryland Technology Development Corporation to adopt certain regulations regarding the consideration of remedies for investments in certain businesses that no longer meet the definition of a qualified business for purposes of provisions of law governing the Corporation; authorizing, rather than requiring, the Corporation to divest itself of an interest under certain circumstances; and authorizing the Corporation to pursue certain other remedies under those circumstances.
AI Summary
This bill requires the Maryland Technology Development Corporation, also known as the Corporation, to establish regulations for its investment committee that include a process for considering how to address situations where a business receiving an investment no longer qualifies as a "qualified business" under the law, which could involve selling off the investment (divestment) or pursuing other actions beneficial to the Corporation. Previously, the Corporation was obligated to divest itself of such investments within 15 years, but this bill changes that to make divestment or pursuing other remedies discretionary, subject to the investment committee's review and approval, and in the best interest of the Corporation.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Favorable Report by Economic Matters (on 02/24/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0487?ys=2026RS |
| Vote Image | https://mgaleg.maryland.gov/2026RS/votes_comm/hb0487_ecm.pdf |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/hb/hb0487f.pdf |
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