Copy
View this email in your browser

FROM THE

halls 


What Gov. Hogan’s proposed budget means for you

Governor Hogan’s new operating budget totals $17.1 billion—a 1.1 percent increase over last year. It keeps $1 billion in cash reserves for possible future revenue writedowns and eliminates the structural deficit for fiscal year 2018. There are no discernible tax increases.

Here are a few ways the governor’s new budget matters to Maryland businesses. 

Business Investment:
  • $10.2 million in additional general fund investment in the Maryland Economic Development Assistance Authority Fund, totaling nearly $24 million
  • $20 million investment in new international headquarters for Marriott in Montgomery County and $5 million allocated for Northrop Grumman in Baltimore County, in exchange for investments in aerospace and defense research
Cyber & Technology:
  • $12 million for Biotech Investment Tax Credit
  • $2 million for Cybersecurity Investment Incentive Tax Credit
  • $900,000 for Cybersecurity Investment Fund
Workforce Development:
  • $600,000 in planning grants for six additional P-TECH schools in Maryland
  • $4 million in the Employment Advancement Right Now (EARN) Program: $1 million for green jobs training; $3 million for cybersecurity and IT training
  • $28 million for workforce development and adult learning activities
Transportation:
  • $2.8 billion in capital transportation infrastructure spending
    • $1.5 billion in State Highway Administration (SHA) projects
    • $32.8 million for I-81 bridge widening and rehabilitation
  • $98.9 million for the Maryland Port Administration (MPA)
    • $50.9 million for dredging-related projects
    • $6.5 million for terminal berth reconstruction
  • $335.7 million for WMATA Purple Line Transitway construction 
The Department of Legislative Services plans to present its annual fiscal briefing to the Senate Budget and Taxation Committee and House Appropriations Committee on Monday, Jan. 23. This year, the House Chamber is assigned to review the budget first. In the upcoming weeks, the House Appropriations Committee will begin holding budgetary hearings before making their final recommendations.
MEMBERS: Log in for exclusive access to our bill positions and more.  
EXCLUSIVELY FOR MEMBERS:

Legislative Conference Call
Monday, Jan. 30 @ 9 a.m.
Mandatory Paid Leave
Call in #: (515) 739-1224
Access code: 907321

Learn from the MDCC Government Affairs team about the paid leave bills currently up for consideration. This will be a 30-minute overview and Q&A with members.
Copyright © 2017 Maryland Chamber of Commerce, All rights reserved.


Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

Email Marketing Powered by Mailchimp