Maryland SB388, the DECADE Act, revises economic development programs, including renaming and restructuring the Economic Development Opportunities.

Maryland SB388, the DECADE Act, makes significant changes to the state's economic development programs. It renames the Economic Development Opportunities Program Account to the Strategic Closing Fund and alters its purposes and usage. The Act modifies tax credits for research and development, biotechnology investments, and film production activities, adjusting eligibility criteria and credit amounts. It also redefines and expands the purposes of the Regional Institution Strategic Enterprise Zone Program, including new incentives for businesses locating in these zones.

Maryland SB388, the DECADE Act, revises economic development programs, including renaming and restructuring the Economic Development Opportunities.

Maryland SB388, the DECADE Act, makes significant changes to the state's economic development programs. It renames the Economic Development Opportunities Program Account to the Strategic Closing Fund and alters its purposes and usage. The Act modifies tax credits for research and development, biotechnology investments, and film production activities, adjusting eligibility criteria and credit amounts. It also redefines and expands the purposes of the Regional Institution Strategic Enterprise Zone Program, including new incentives for businesses locating in these zones.