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MarylandSB 07632026 Regular SessionSenate

Maryland Technology Development Corporation - Maryland Growth Initiative - Established

Sponsored By: Guy Guzzone (Democratic)

Signed by Governor

Economic DevelopmentCommerce and Business -see also- ElectrComm; ForeignTr; etc.ComptrollerDemographics -see also- Census; DataInvestments -see also- SecuritiesLow-IncomePublic Corporations and Instrumentalities -see also- HBERevenue and Taxes -see also- (specific tax)Rules and RegulationsStandards and Best PracticesTreasurers

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Stable funding for Maryland startups

Beginning Oct 1, 2026, the Governor must budget $5 million each year for the Maryland Growth Initiative. This money adds to, and cannot replace, other funds for the program. Investment earnings on the Fund also stay in the Fund, so more money is available to support qualifying Maryland startups.

Targeted help for Maryland startups

Beginning Oct 1, 2026, the Maryland Technology Development Corporation runs the Maryland Growth Initiative. It focuses on Maryland companies between start-up and scaling. It offers technical and business help, links companies to private investors, and supports post-seed/Series A growth without relocation. The Initiative keeps a curated list and gives priority to past Maryland Innovation Initiative recipients, past recipients of other Corporation programs, minority business enterprises, and firms in high-need areas.

Sponsors & Cosponsors

Sponsor

  • Guy Guzzone

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 169 • No: 11

House vote • 4/13/2026

Third Reading Passed

Yes: 124 • No: 11 • Other: 5

Senate vote • 3/19/2026

Third Reading Passed

Yes: 45 • No: 0

Actions Timeline

  1. Approved by the Governor - Chapter 381

    5/12/2026

  2. Returned Passed

    4/13/2026Senate

  3. Third Reading Passed (124-11)

    4/13/2026House

  4. Second Reading Passed

    4/13/2026House

  5. Favorable Adopted

    4/13/2026House

  6. Favorable Report by Economic Matters

    4/13/2026House

  7. Hearing 4/01 at 1:00 p.m. (Economic Matters)

    3/24/2026House

  8. Referred Economic Matters Appropriations

    3/20/2026House

  9. Third Reading Passed (45-0)

    3/19/2026Senate

  10. Second Reading Passed with Amendments

    3/17/2026Senate

  11. Favorable with Amendments {613322/1 Adopted

    3/17/2026Senate

  12. Favorable with Amendments Report by Finance

    3/16/2026Senate

  13. Hearing 3/05 at 1:00 p.m.

    2/12/2026Senate

  14. First Reading Finance

    2/6/2026Senate

Bill Text

  • Enacted

    5/12/2026

    PDF

  • Third Reading

    3/17/2026

    PDF

  • First Reading

    2/6/2026

    PDF

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