Welcome to BidMaryland.com, the State of Maryland's Tax Credit Auction
website. In the spring of 2011, the Maryland legislature passed the
InvestMaryland program, a historic initiative that will infuse a minimum
of $70 million into promising start-up and early stage companies in Maryland,
creating the largest venture capital investment in the State's history. As
part of the program, the Maryland Venture Fund Authority was created as an
independent nine-member panel to oversee the implementation of InvestMaryland,
including the selection of third-party consultants to manage the tax credit auction.
The funds will be raised by auctioning insurance premium tax credits to authorized
Maryland insurance companies for use in future tax years. As an insurer doing
business in Maryland with insurance premium tax liability, your firm is eligible to
purchase the InvestMaryland program's tax credits. We anticipate an online auction
of the credits will take place in March 2012.
We look forward to your support as we execute this innovative new initiative.
Christian S. Johansson
Secretary, Maryland Department of Business and Economic Development
Chairman, Maryland Venture Fund Authority