MD HB487

Maryland Technology Development Corporation must adopt regulations establishing a process for considering remedies, including divestment, for investments in businesses that no longer meet the definition of a qualified business.

The 15-year mandatory divestment requirement for equity investments is changed to discretionary, allowing the Corporation's investment committee to approve divestment or pursue alternative remedies in the Corporation's best interest.

The Corporation may acquire ownership interests exceeding 25% when investing in venture or private equity firms, while remaining limited to 25% for other enterprises.

State and Corporation liability for equity investments is limited to the amount of that investment.

Effective date: July 1, 2026.