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Commerce seeks changes to cybersecurity tax credit to boost participation
Summary
Deputy Secretary April Dawson and Commerce staff told the committee SB 25 would revise the Bay Maryland Cybersecurity Tax Credit to broaden eligible buyers and sellers, raise certain caps, and improve utilization; members asked whether larger firms could crowd out smaller businesses.
April Dawson, deputy secretary for policy and stakeholder engagement at the Maryland Department of Commerce, and Abigail McKnight, program manager for tax credit programs, presented SB 25 on March 24 as a departmental bill designed to increase utilization of the Bay Maryland Cybersecurity Tax Credit.
Dawson said the credit encourages Maryland businesses to buy cybersecurity products and services from in-state sellers and that the bill’s adjustments aim to remove structural…
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