Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Bill would allow startup tax-attribute transfers to spur investment in Maryland tech firms
Summary
Senate bill 91 would let early-stage companies transfer unused net operating losses and R&D tax credits to buyers for cash, with a proposed minimum price of 80¢ on the dollar, a cap and recapture rules to keep companies in-state, supporters said.
A bill presented to the Senate Budget and Taxation Committee would create a program to enable early-stage technology and biotech companies to transfer unused net operating losses (NOLs) or research-and-development tax credits to larger companies in return for cash, supporters said.
Sen. Richard S. Feldman (sponsor) and witnesses described the bill as modeled on a long-standing New Jersey program: a department-run mechanism administered by the Department of Commerce and the comptroller that would certify transfers and set guardrails including a requirement…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
