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MD SB354

Bill

Official Source

Status

Engrossed

3/12/2026

Primary Sponsor

Cheryl Kagan

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Raises the gross income threshold requiring a full independent audit from $750,000 to $1,000,000 in charitable contributions
  • Increases the threshold for requiring an independent review (less rigorous than audit) from $300,000-$750,000 to $500,000-$1,000,000
  • Raises the cash receipts limit for charitable organizations to qualify for an affidavit alternative from $300,000 to $500,000
  • 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

Legislative Description

Business Regulation - Charitable Organizations - Audit and Review Thresholds

Rules and Regulations

Last Action

Referred Economic Matters

3/13/2026

Committee Referrals

Economic Matters3/13/2026
Judicial Proceedings1/23/2026

Full Bill Text

No bill text available