Legislature Must Act On The Cybersecurity Investment Incentive Tax Credit

Important Legislation Strengthens Maryland’s Thriving Cybersecurity Industry

“We will expand and improve our Cybersecurity Investment Incentive Tax Credit program in order to incentivize investors to provide more capital for small, start-up companies to help grow and create jobs.” - Governor Larry Hogan, January 5, 2017

Hogan Administration Calls On Legislators To Pass The Cybersecurity Investment Incentive Tax Credit

The Hogan Administration Is Calling On The Legislature To Pass The Cybersecurity Investment Incentive Tax Credit; Failure To Pass This Common Sense Bipartisan Proposal Would Be A Blow To Maryland’s Thriving Cybersecurity Sector.

Under Governor Hogan, Maryland Is Regarded As A National Leader In Cybersecurity

Governor Hogan: “Maryland is becoming the cyber capital of America. We are home to one of a kind federal assets like the NSA, the U.S. Cyber Command, and the National Cybersecurity Center of Excellence. We already have 1,200 cyber companies and more and more are choosing to locate in Maryland.” (Governor Hogan, Maryland Jobs Initiative, 1/5/17)
Maryland Ranks Third Nationally For Research And Development Intensity. (Michelle Jamrisko and Wei Lu, "Here Are The Most Innovative States In America In 2016," Bloomberg, 12/22/16)
Maryland Ranks Second Nationally For Concentration Of STEM Employment.(Michelle Jamrisko and Wei Lu, "Here Are The Most Innovative States In America In 2016," Bloomberg, 12/22/16)
Maryland Ranks Fourth Nationally In The Number Of Science And Engineering Degree Holders. (Michelle Jamrisko and Wei Lu, "Here Are The Most Innovative States In America In 2016," Bloomberg, 12/22/16)

Cybersecurity Investment Incentive Tax Credit

Governor Hogan’s Proposal Will Grow And Continue Maryland’s Standing As A Cyber Security Leader; Current Cybersecurity Investment Incentive Tax Credit Is Underutilized, The Governor’s Proposal Makes The Tax Credit Available To Investors, Rather Than Cybersecurity Companies. “Subject to paragraph (2) of this subsection and subsections (d) and (f) of this section, for the taxable year in which an investment in a qualified Maryland cybersecurity company is made, a qualified investor may claim a credit against the State income tax in an amount equal to the amount of tax credit stated in the final credit certificate approved by the Secretary for the investment as provided under this section.” (“Senate Bill 318,” Maryland General Assembly, 3/14/17)