Bill > HB129

This bill requires nonprofit entities, defined as organizations incorporated or qualified to do business in Maryland and recognized by the Internal Revenue Service as tax-exempt under Section 501(c) of the Internal Revenue Code, to report specific financial information to the Comptroller if they receive at least 50% of their funding from state, county, or municipal grants, the state capital budget, local impact grants, or charges for projects that received such funding. The report must include the amount of funding received, a description of how the funding was used, and any other information the Comptroller deems necessary. The Comptroller will then summarize this information and report it to the General Assembly annually by January 31st for the preceding calendar year. This new reporting requirement will take effect on July 1, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0129?ys=2026RS