This chapter describes the: Requirements for a qualified investor to receive a certificate allowing it to claim a credit against the State income tax for an investment in a qualified Maryland biotechnology company; Criteria to be applied by the Department of Commerce to determine whether a company will be certified as a qualified Maryland biotechnology company; and Procedures to be used by the Department of Commerce to: Receive, review, and approve or disapprove applications by investors claiming eligibility for the tax credit; Determine whether investors are qualified investors; Perform a criteria-referenced assessment and evaluation of companies to determine eligibility for certification as a qualified Maryland biotechnology company; Issue initial and final tax credit certificates; Issue certificates that a company is a qualified Maryland biotechnology company; Monitor and audit investments in qualified Maryland biotechnology companies; Monitor, audit, and make inquiries about: The continued eligibility of tax credit certificate holders for tax credits; The continued eligibility for certification as a qualified Maryland biotechnology company; and The continued presence of a qualified Maryland biotechnology company, and the continued maintenance by it of its headquarters and the base of its biotechnology activities, in the State; Rescind or revoke initial or final tax credit certificates; and Rescind or revoke certificates that a company is a qualified Maryland biotechnology company. The Comptroller of the Treasury administers the tax credit, any recapture or assessment procedures in connection with the tax credit, and the Reserve Fund.