# Economic Development (GEC)

## Title 10. Statewide Development Resources and Revenue Authorities

### Subtitle 4. Maryland Technology Development Corporation

#### Section 10-417

(a)

  (1) There is a Maryland Advanced Manufacturing Grant Program.

  (2) Subject to subsection (f) of this section, the Corporation shall administer the Program.

(b) The purpose of the Program is to support the growth of companies that specialize in regenerative medicine and other advanced manufacturing.

(c) The Corporation shall establish:

  (1) eligibility criteria to receive a grant under the Program;

  (2) grant application procedures and evaluation criteria; and

  (3) grant award processes and amounts.

(d) Grant recipients may use grant proceeds only for:

  (1) the acquisition, renovation, or construction of space for regenerative medicine or other advanced manufacturing;

  (2) infrastructure improvements necessary to support regenerative medicine or other advanced manufacturing; and

  (3) the equipment necessary for regenerative medicine or other advanced manufacturing.

(e)

  (1) In this subsection, "Fund" means the Maryland Advanced Manufacturing Grant Program Fund.

  (2) There is a Maryland Advanced Manufacturing Grant Program Fund.

  (3) The purpose of the Fund is to provide grants under this section.

  (4) The Corporation shall administer the Fund.

  (5)

    (i) The Fund is a special, nonlapsing fund that is not subject to Sec. 7-302 of the State Finance and Procurement Article.

    (ii) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

  (6) The Fund consists of:

    (i) money appropriated in the State budget to the Fund;

    (ii) interest earnings; and

    (iii) any other money from any other source accepted for the benefit of the Fund.

  (7) The Fund may be used only for:

    (i) grants under this section; and

    (ii) the costs incurred by the Corporation to administer the Program.

  (8)

    (i) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

    (ii) Any interest earnings of the Fund shall be credited to the Fund.

  (9) Expenditures from the Fund may be made only in accordance with the State budget.

(f) The Corporation shall consult with the Maryland Stem Cell Research Commission only on items related to regenerative medicine under the Program, including:

  (1) establishing criteria or procedures specific to regenerative medicine under this section; and

  (2) adopting regulations regarding regenerative medicine under this section.

(g) The Corporation may adopt regulations necessary to carry out this section.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)