Bill > HB259

This bill makes several changes to Maryland's financial institution laws, primarily focusing on the Maryland Community Investment Venture Fund and assessment credits for banking institutions and credit unions. It extends the deadline for the Commissioner to match investments in the Maryland Community Investment Venture Fund from June 30, 2028, to June 30, 2030, and broadens the fund's purpose to actively promote financial product innovations through investments, grants, and other financial assistance to benefit consumers and businesses in low- to moderate-income tracts. The bill also alters how assessment offset credits are calculated and awarded to banking institutions and credit unions for establishing branches in low- to moderate-income tracts and for offering "Maryland Opportunity Accounts," which are transaction accounts designed to promote fair access to financial services. Additionally, it removes certain fees for banking institutions and clarifies definitions related to branches and new branches for both banking institutions and credit unions, while also ensuring that interest earned by the Maryland Community Investment Venture Fund will continue to accrue to that fund and not revert to the State's General Fund.

Budget and Finance, Business and Industry

Economic Matters (House)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0259?ys=2026RS