Income Tax - Angel Investor Tax Credit Program
Sponsor: Katie Fry Hester (District 9)Committee: Budget and TaxationSubject: Economic and Community DevelopmentStatus: Hearing 1/21 at 11:00 a.m. (as of Dec 1, 2021)
What this bill does
Official synopsis
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; etc.
AI analysis is off. Set ANTHROPIC_API_KEY to enable summaries, pros and cons, and questions.
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 (11)
MGA witness listFAV 10FavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Fry, Donald | Greater Baltimore Committee | Oral + Written (PDF) |
| FAV | McClarty, Leonardo | Howard County Chamber | Written (PDF) |
| FAV | Rosendale, Martin | MTC | Oral + Written (PDF) |
| FAV | Griffin, Andrewlobbyist | Maryland Chamber of Commerce | Written (PDF) |
| FAV | Fry Hester, Katie | Maryland Senate | Oral + 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 | Senator Hester, Senator Hesterlegislator | Individual | Position only |
| INFO | Schulz, Kelly | Maryland Department Of Commerce | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FAVGriffin, AndrewMaryland Chamber of CommerceRegistered for: Alliance to Prevent Legionnaire's Disease; American Subcontractors Association of Baltimore; Annapolis Maritime Museum & Park; Associated Utility Contractors of Maryland; Experience Prince George's; Howard County Chamber of Commerce…
FAVRASMUSSEN, DENNISThe Rasmussen Group LLCRegistered for: Baltimore Children's Museum, Inc. dba Port Discovery Children's Museum; Chesapeake Renewable Energy, LLC; Chesapeake Ventures Development, LLC; Greater Ocean City Maryland Chamber of Commerce, Inc.; HarborRock Holdings, LLC; Maryland Mortgage Bankers & Brokers Association (MMBBA)…