SB 80
Department of Legislative Services
Maryland General Assembly
2021 Session
FISCAL AND POLICY NOTE
Enrolled - Revised
Senate Bill 80 (Senator Kagan)
Finance Ways and Means
Economic Development - Maryland Technology Development Corporation -
Alterations
This bill adds four members to the board of directors of the Maryland Technology
Development Corporation (TEDCO), requires at least one of the two existing board
members representing colleges and universities to represent an historically black college
or university, and specifies that any single college or university may not be represented on
the board for more than two consecutive terms. The two-term limit applies only to terms
being served after the effective date of the bill. Of the four additional members, two are
appointed by the President of the Senate and two are appointed by the Speaker of the
House. The bill also renames TEDCO’s Executive Director position to be Chief Executive
Officer. Requirements and duties of the position are otherwise unchanged. The bill takes
effect July 1, 2021.
Fiscal Summary
State Effect: The bill does not materially affect State finances or operations and is
generally administrative in nature.
Local Effect: None.
Small Business Effect: None.
Analysis
Current Law: TEDCO is managed by a 15-member board of directors, appointed by the
Governor with the advice and consent of the Senate. TEDCO must employ an executive
director, who must have experience with and possess qualifications relevant to the activities
and purposes of the corporation. The executive director, or the director’s designee, serves
on the Maryland Economic Development Commission and several other
technology/economic development advisory bodies.
Additional Information
Prior Introductions: SB 308 of 2020, a similar bill, was referred to the Senate Finance
Committee, but no further action was taken. Its cross file, HB 1002, passed the House with
amendments and was referred to the Senate Finance Committee, but no further action was
taken.
Designated Cross File: HB 6 (Delegate Feldmark) - Ways and Means.
Information Source(s): Maryland Technology Development Corporation; Department of
Legislative Services
Fiscal Note History: First Reader - January 12, 2021
rh/vlg Third Reader - March 17, 2021
Revised - Amendment(s) - March 17, 2021
Enrolled - April 12, 2021
Revised - Amendment(s) - April 12, 2021
Analysis by: Stephen M. Ross Direct Inquiries to:
(410) 946-5510
(301) 970-5510
SB 80/ Page 2


Statutes affected:
Text - First - Economic Development - Maryland Technology Development Corporation - Alterations: 10-448 Economic Development, 6-606 Education, 10-402 Education, 10-403 Education, 10-404 Education, 10-405 Education, 10-448 Education, 12-305 Education, 92-204 State Government, 92-901 State Government, 10-403 State Government
Text - Third - Economic Development - Maryland Technology Development Corporation - Alterations: 10-448 Economic Development, 6-606 Economic Development, 10-402 Economic Development, 10-403 Economic Development, 10-404 Economic Development, 10-405 Economic Development, 10-448 Economic Development, 12-305 Education, 92-204 State Government, 92-901 State Government, 10-403 State Government
Text - Enrolled - Economic Development - Maryland Technology Development Corporation - Alterations: 10-448 Economic Development, 6-606 Economic Development, 10-402 Economic Development, 10-403 Economic Development, 10-404 Economic Development, 10-405 Economic Development, 10-448 Economic Development, 12-305 Education, 92-204 State Government, 92-901 State Government, 10-403 State Government