Bill
Bill > SB920
MD SB920
MD SB920Economic Development - Small, Minority, and Women-Owned Business Accounts - Management Fees (Small Business Increased Access to Capital Act)
summary
Introduced
02/06/2026
02/06/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Authorizing the Department of Commerce to authorize an eligible fund manager to receive, use, and retain a certain management fee; and authorizing the Department to set an annual cap on the cumulative amount of certain management fees an eligible fund manager may receive.
AI Summary
This bill, known as the Small Business Increased Access to Capital Act, allows the Department of Commerce to authorize an "eligible fund manager" – an entity with significant financial or investment experience designated to manage funds – to receive and keep a management fee. This fee, calculated as a percentage of each loan made, will range from 1.5% to 3% of the total loan principal and will be paid from the loan account to cover administrative costs related to lending activities. Additionally, the Department can set an annual limit on the total amount of these management fees an eligible fund manager can collect.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Senate Finance Hearing (13:00:00 3/5/2026 ) (on 03/05/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0920?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/sb/sb0920f.pdf |
Loading...