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MarylandHB 07982026 Regular SessionHouse

Economic Development - Small, Minority, and Women-Owned Business Accounts - Management Fees (Small Business Increased Access to Capital Act)

Sponsored By: Sarah Wolek (Democratic)

Signed by Governor

Economic DevelopmentCommerce and Business -see also- ElectrComm; ForeignTr; etc.Commerce, Department ofFees -see also- Attys' Fees; Devt Fees & TaxesMinoritiesSmall BusinessStandards and Best PracticesWomen -see also- Gender

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

New manager fees for small-business loans

Beginning July 1, 2026, the state lets eligible fund managers take a fee on each loan in this program. The fee is 1.5% to 3% of the loan principal. The fee is paid from the program account and kept by the manager for lending-related admin work. This fee is on top of any grant money the manager receives for admin costs. The Department of Commerce can set a yearly cap on a manager’s total fees. These fees can reduce money left in the account for future loans.

Sponsors & Cosponsors

Sponsor

  • Sarah Wolek

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 292 • No: 15

House vote • 4/10/2026

Third Reading Passed

Yes: 126 • No: 6 • Other: 4

Senate vote • 4/9/2026

Third Reading Passed

Yes: 42 • No: 0 • Other: 1

House vote • 3/12/2026

Third Reading Passed

Yes: 124 • No: 9 • Other: 3

Actions Timeline

  1. Approved by the Governor - Chapter 391

    5/12/2026

  2. Passed Enrolled

    4/10/2026House

  3. Third Reading Passed (126-6)

    4/10/2026House

  4. House Concurs Senate Amendments

    4/10/2026House

  5. Third Reading Passed (42-0)

    4/9/2026Senate

  6. Second Reading Passed with Amendments

    4/9/2026Senate

  7. Favorable with Amendments {173727/1 Adopted

    4/9/2026Senate

  8. Favorable with Amendments Report by Finance

    4/9/2026Senate

  9. Referred Finance

    3/13/2026Senate

  10. Third Reading Passed (124-9)

    3/12/2026House

  11. Favorable Adopted Second Reading Passed

    3/11/2026House

  12. Favorable Report by Economic Matters

    3/10/2026House

  13. Hearing 2/24 at 1:00 p.m.

    2/9/2026House

  14. First Reading Economic Matters

    2/4/2026House

Bill Text

  • Enacted

    5/12/2026

    PDF

  • Enrolled

    4/10/2026

    PDF

  • Third Reading

    3/11/2026

    PDF

  • First Reading

    2/4/2026

    PDF

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