MD HB483

Raises the threshold requiring charitable organizations to obtain an independent CPA audit from $750,000 to $1,000,000 in annual gross income from charitable contributions

Increases the threshold for requiring an independent CPA review from $300,000-$750,000 to $400,000-$1,000,000 in annual gross income from charitable contributions

Raises the cash receipts limit for which the Secretary of State may accept an affidavit in lieu of an audit or review from $300,000 to $400,000

Increases the maximum gross income level at which the Secretary of State may require an audit or review from $750,000 to $1,000,000

Takes effect July 1, 2026