Bill > HB427

This bill establishes a new emeritus status for certified public accountants (CPAs) in Maryland, allowing experienced professionals to maintain a modified license status under specific conditions. The State Board of Public Accountancy may place a licensee on emeritus status if the individual has an active or inactive license, is not under investigation, is not facing disciplinary actions, and meets one of two experience requirements: either practicing in the state for at least 20 years and being at least 60 years old, or having 40 years of experience as a CPA. To qualify, the individual must be retired and attest that they will not provide accounting services unless reinstated. Emeritus status provides exemptions from continuing education requirements and reinstatement fees. Importantly, individuals on emeritus status are prohibited from practicing, signing financial statements, tax returns, or providing attestation services. They may only describe themselves as "Certified Public Accountant Emeritus" or "CPA Emeritus" without representing themselves as currently authorized to practice accounting. The bill includes a provision for the Board to review emeritus status applications within 60 days and provides a pathway for potential future reinstatement if the individual meets certain conditions. The new law is set to take effect on July 1, 2025.

Business and Industry, Education

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0427?ys=2025RS