The Maryland Legislature has introduced Senate Bill 302, aimed at establishing a Small Business Innovation Research and Technology Transfer Incentive Program. This initiative seeks to bolster the state's small businesses by providing financial support for research and development activities, particularly those that address public health crises.

The bill, introduced on February 24, 2025, outlines a framework for the program, which will be administered by a designated corporation. Eligible small businesses can apply for awards or investments that partially match existing small business innovation research or technology transfer awards. The program prioritizes funding for businesses engaged in research that contributes to public health preparedness and response.

Key provisions of the bill include specific funding limits: for Phase I awards, businesses may receive up to 25% of their existing award or a maximum of $25,000, while Phase II awards can provide up to $75,000 under similar conditions. Notably, the bill allows for exceptions to these limits if the Board, upon the Executive Director's recommendation, deems a larger investment necessary for community benefit.

The introduction of Senate Bill 302 has sparked discussions among lawmakers and stakeholders regarding its potential impact on Maryland's economy and public health infrastructure. Supporters argue that the program could stimulate innovation and support small businesses during critical times, while opponents express concerns about the allocation of state funds and the effectiveness of such programs.

As the bill progresses through the legislative process, its implications for small businesses and public health initiatives in Maryland will be closely monitored. If passed, it could serve as a significant step toward enhancing the state's capacity to respond to future health crises while fostering a robust environment for innovation.