Bill > HB1432

This bill requires the Governor's Office of Small, Minority, and Women Business Affairs to enhance coordination and support for minority business enterprises (MBEs) by working closely with the Department of Commerce and the Office of the Comptroller. Specifically, the bill mandates that the Special Secretary coordinate efforts to promote existing benefits and incentives for minority-owned businesses operating in Enterprise Zones (designated areas with special economic development incentives), including tax incentives, grants, and technical assistance. The bill expands the existing responsibilities of the Special Secretary by adding specific coordination requirements with other state agencies to support MBE growth. Additionally, the bill requires the Governor's Office to include a detailed analysis of these coordination efforts in their annual reports for 2026, 2027, and 2028, examining the impact on minority businesses and potential recommended statutory improvements. The legislation defines a minority business enterprise as a publicly owned business with at least 51% minority ownership or other businesses with at least 50% minority ownership. The bill will take effect on July 1, 2025, and aims to provide more targeted support and resources for minority-owned businesses in Maryland.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1432?ys=2025RS