Biotechnology Investment Incentive Tax Credit (BIITC)

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For the fiscal year 2027 BIITC program, Commerce will begin accepting Form B QMBC applications on 8/4/2026 and Form A investor applications on 8/18/2026. Registration for the online investor queue will begin on 9/1/2026.

Note: All required documentation for investor applications must be included with the investor application. Placeholder documents will not be accepted. Incomplete applications will be rejected.

View Official FY2026 Queue. BENEFIT

BIITC provides an income tax credit equal to 33% of an eligible investment in a Qualified Maryland Biotechnology Company (QMBC) up to $250,000 in tax credits, or 50% of an eligible investment in a QMBC up to $500,000 in tax credits if the QMBC is located in Allegany, Dorchester, Garrett or Somerset County.

Enhanced tax credits are also available for Opportunity Zone fund investors who invest in QMBCs located in Opportunity Zones. The Level 1 enhancement provides an income tax credit equal to 65% of an eligible investment in an eligible QMBC up to $575,000 in tax credits. The Level 2 enhancement provides an income tax credit equal to 75% of an eligible investment in a QMBC up to $750,000. Please review the FAQs and the Opportunity Zone Enhancements website for more information.

Enhanced tax credits are also available for investors who invest in certain QMBCs located in RISE Zones. The QMBC’s technology must have been developed at a qualified institution within that RISE Zone and the QMBC has been in active business no longer than 7 years. The RISE Zone enhancement provides an income tax credit equal to 50% of an eligible investment in an eligible QMBC up to $500,000 in tax credits. Please review the RISE Zone program website for more information.

Total credits issued during the fiscal year cannot exceed the budget amount and are, therefore, issued on a first come basis. The credit is refundable if the investor has no Maryland income tax liability.

Please continue to check this page for the most recent information regarding the availability of tax credits. ELIGIBILITY Qualified investor is an individual or any entity that invests at least $25,000 in a QMBC and is required to file an income tax return in any non-tax haven jurisdiction. Investors must submit all required documentation within two weeks of the date of their application. Applicants who fail to do so will be rejected and will lose their position in the queue, but can apply and register for the online investor queue again. QMBC is a biotechnology company that (1) has its headquarters and base of operations in Maryland; (2) has fewer than 50 full time employees; (3) has been in active business no longer than 12 years; (4) is certified by Commerce as a QMBC and (5) the qualified investors in the company have not received more than $7,000,000 in biotechnology investment Incentive tax credits. Please refer to the Resources section for further details on qualification.

A single QMBC may not receive, for the benefit of investors, more than 10% of the program's fiscal year funding. APPLY

All applications must be submitted with all attachments through Commerce's online system. Please read the instructions below before visiting the online portal.

Beginning on August 4, 2026, Commerce will begin accepting the Form B QMBC application through the online system. The Form B QMBC application must be completed and submitted before Commerce will accept investor applications. Beginning on August 18, 2026, Commerce will begin accepting the Form A investor applications through the online system. Investors must separately register and…

Topic areas: Life Sciences and Health, Circular Economy and Sustainability.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Biotechnology Investment Incentive Tax Credit (BIITC) is administered by Maryland Department of Commerce (MD Commerce), listed via Maryland Department of Commerce.