(a) Definitions. As used in this Section:
Director means the Director of Finance or the Director’s designee.
Small Business Innovation Research Grant or SBIR means the congressionally-mandated set-aside program by that name for U.S. small businesses to engage in research and development that has a strong potential for commercialization.
Small Business Technology Transfer Grant or STTR means the congressionally-mandated set-aside program by that name for U.S. small businesses to engage in research and development that has a strong potential for commercialization.
(b) Grant Program. The Director of Finance must pay, subject to appropriation, a SBIR or STTR Matching Grant to each business who meets certain eligibility standards.
(c) Eligibility. A business is eligible to receive the matching grant if the business:
(1) has been awarded a SBIR or STTR Phase I or Phase II grant during the current fiscal year to conduct research in medicine, biotechnology, or life sciences;
(2) conducts at least 51% of its research and development operations at a physical location in the County; and
(3) meets any other eligibility criteria established under subsection (d) regarding business size or characteristics.
(d) Regulations. The Executive may adopt regulations under Method (2) to implement this Section.
(e) Administration.
(1) The Director must administer the Program.
(2) The Director must require a business to enter into an agreement under Section 20-75(f), including an agreement to pay back any grant payments received if:
(A) the business does not remain in the County for a minimum time period specified in the agreement; or
(B) the business uses the payment for an unauthorized purpose.
(3) An eligible business that does not receive a grant due to lack of available funding may be awarded a grant in the following year.
(4) The Director must report annually to the Council regarding demographic data, including the race, ethnicity, and gender of the owners of eligible businesses, applicants, and awardees under the Program.
(f) Sunset. This Section is not effective after July 1, 2025. (2018 L.M.C., ch. 4, §1; 2019 L.M.C., ch. 23, §1; 2021 L.M.C., ch. 5
, § 1; 2022 L.M.C., ch. 39, § 1; 2023 L.M.C., ch. 18, § 1; 2023 L.M.C., ch. 21
, § 1.)
Editor’s note—2023 L.M.C., ch. 18, § 3, states: Sec. 3. Transition. An otherwise eligible business under Section 20-76E(c) that received a SBIR or STTR Phase I or Phase II grant between July 1, 2022, and the effective date of this Act that did not already apply for a County matching grant may still apply for a County matching grant during the current fiscal year.