Shown verbatim: the complete text as captured from the official PDF posted by the Maryland General Assembly, fetched 2026-09-25. Page and line markers are part of the official record; nothing is edited or removed. This is the chaptered version. The official bill page.
WES MOORE, Governor Ch. 393
Chapter 393
(House Bill 483)
AN ACT concerning
Business Regulation – Charitable Organizations – Audit and Review Thresholds
FOR the purpose of increasing the minimum gross income amounts from charitable
contributions at which a charitable organization must include a certain audit or a
certain review with the charitable organization’s registration statement; increasing
the amount of cash receipts from charitable contributions the Secretary of State may
accept an affidavit attesting to under certain circumstances; increasing the
maximum amount of gross income of a charitable organization at which the
Secretary of State may require an audit or review of the charitable organization; and
generally relating to audit and review thresholds for charitable organizations.
BY repealing and reenacting, without amendments,
Article – Business Regulation
Section 6–402(a)
Annotated Code of Maryland
(2024 Replacement Volume and 2025 Supplement)
BY repealing and reenacting, with amendments,
Article – Business Regulation
Section 6–402(b)(7), (c)(1)(v), and (d)
Annotated Code of Maryland
(2024 Replacement Volume and 2025 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Business Regulation
6–402.
(a) A registration statement shall be on the form that the Secretary of State
provides.
(b) Except as provided in subsection (c) of this section, the registration statement
shall contain or be accompanied by:
(7) (i) an audit by an independent certified public accountant if the
gross income from charitable contributions in the most recently completed fiscal year is at
least [$750,000] $1,000,000; or
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Ch. 393 2026 LAWS OF MARYLAND
(ii) a review by an independent certified public accountant if the
gross income from charitable contributions in the most recently completed fiscal year is at
least [$300,000] $500,000 $400,000 but less than [$750,000] $1,000,000;
(c) The Secretary of State may accept other documentation in place of any item
required under subsection (b) of this section, including, in place of the audit or review
required by subsection (b)(7) of this section, supporting documents indicating, and an
affidavit attesting, that:
(1) the charitable organization:
(v) has cash receipts from charitable contributions not exceeding
[$300,000] $500,000 $400,000 and amounting to 20% or less of the charitable
organization’s gross income during the immediately preceding fiscal year that are used for
program services or management and general expenses of the charitable organization, as
set forth under COMAR 01.02.04.04.A and C;
(d) The Secretary of State may require an audit or review if the amount of gross
income is less than [$750,000] $1,000,000.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2026.
Approved by the Governor, May 12, 2026.
–2–Every fact on this page links to its source, starting with the official bill record.