O’Malley’s proposed budget raises spending on cyber security, biotech and R&D – Baltimore Business Journal

Gov. Martin O’Malley on Wednesday unwrapped his eighth and final budget, a $39 billion plan that increases spending on tax credits for cyber security, biotechnology and research and development while holding the line on taxes.

For fiscal 2015, O’Malley has proposed hiking the biotech and life sciences tax credit by 20 percent, to $12 million. He wants to increase the cyber tax credit by 33 percent, to $4 million and raise the credit for research and development by 12.5 percent, to $9 million.