Income Tax - Angel Investor Tax Credit Program
What this bill does
Allowing a credit against the State income tax for 50% of an investment made in a qualified innovation business, not to exceed $50,000, or $100,000 for a qualified investor that is a married couple filing jointly or a pass-through entity; requiring a qualified investor to meet certain requirements in order to be eligible for the credit; requiring the Department of Commerce to administer the credit; applying the Act to taxable years beginning after December 31, 2020; establishing the Maryland Angel Investor Tax Credit Reserve Fund; etc.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (15)
MGA witness list| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Thielke, Michael | Eastern Shore Entrepreneurship Center | Written (PDF) |
| FAV | Fry, Donald | Greater Baltimore Committee | Oral |
| FAV | McClarty, Leonardo | Howard County Chamber | Oral + Written (PDF) |
| FAV | Rosendale, Martin | MTC | Written (PDF) |
| FAV | Griffin, Andrewlobbyist | Maryland Chamber of Commerce | Written (PDF) |
| FAV | Mehu, Natashalobbyist | Mayor's Office of Government Relations | Written (PDF) |
| FAV | Swanson, Tricia | Montgomery County Chamber of Commerce | Written (PDF) |
| FAV | Matthews, Dakota | Rural Maryland Council | Written (PDF) |
| FAV | LeMaile-Stovall, Troy | TEDCO | Written (PDF) |
| FAV | RASMUSSEN, DENNISlobbyist | The Rasmussen Group LLC | Written (PDF) |
| FAV | Delegate Lierman, Delegate Liermanlegislator | Individual | Position only |
| FAV | Italiano, Ginanne | Individual | Written (PDF) |
| FAV | Lierman, Delegate Brooke | Individual | Written (PDF) |
| FAV | McMullin, M. | Individual | Written (PDF) |
| INFO | Schulz, Kelly | Maryland Department Of Commerce | Written (PDF) |