Bill
Bill > HB118
summary
Introduced
01/14/2026
01/14/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Altering, for a certain licensing requirement, the definition of "money transmitter" under the Maryland Money Transmission Act to exclude a certain person designated as an agent of a payor for the purpose of the agent's provision of payroll processing services under certain circumstances.
AI Summary
This bill amends the Maryland Money Transmitter Act to clarify the definition of a "money transmitter," which is a person or entity engaged in transmitting money that is required to be licensed. Specifically, it adds that a money transmitter *does not* include a person acting as an agent for a payroll processor if there's a written agreement, the employer presents the agent as providing payroll services, and the employer remains responsible if the agent fails to send the funds to the employee or other payee. This change aims to exclude certain payroll processing services from the licensing requirements for money transmitters, provided specific conditions are met, and will take effect on October 1, 2026.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Favorable Report by Economic Matters (on 02/24/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0118?ys=2026RS |
| Vote Image | https://mgaleg.maryland.gov/2026RS/votes_comm/hb0118_ecm.pdf |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/hb/hb0118f.pdf |
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