Maryland will become the first state in the nation to take a new approach to paying for education: taxing digital advertising.
With the new law, the state will collect a tax of between 2.5% and 10% on revenue that a company makes on digital advertising. Aimed at the big tech companies like Google, Amazon and Facebook, the law could generate up to $250 million in the first year.
The move to cement HB 732 as law was made official last week with votes by both Democratic-controlled houses of the Maryland General Assembly to override a veto by Gov. Larry Hogan, a Republican. It comes a little over a year after the measure was initially proposed by Senate President Bill Ferguson (D-Baltimore City), who has been no stranger to policy around the innovation economy and rose to the senate leadership role last year.
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