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MarylandSB 05612025 Regular SessionSenate

Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits

Sponsored By: Stephen S. Hershey (Republican)

Signed by Governor

Corporations and AssociationsUtility RegulationAssociations -see also- Cooperative AssociationsBanks and Trust CompaniesCooperative AssociationsCorporations -see also- Municipal Corps; Public Corps & InstFinancial Institutions -see also- Banks; Credit Unions; etc.GiftsNonprofit OrganizationsTimeUtilities -see also- Recycl; Refuse; Sewage; Teleph; Water

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Bill Overview

Analyzed Economic Effects

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

Electric cooperatives can reuse unclaimed member credits

Beginning October 1, 2025, Maryland electric cooperatives can keep qualifying unclaimed credits instead of transferring them to the state. These are former members’ shares of surplus money, unclaimed for at least five years after being retired for payment. Cooperatives can use this money only for member assistance allowed by law or donations to board-approved nonprofit charities. Former members keep their right to a refund. The cooperative must pay them when they apply for credits they are owed.

Sponsors & Cosponsors

Sponsor

  • Stephen S. Hershey

    Republican • Senate

Cosponsors

  • Johnny Mautz

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 231 • No: 0

House vote • 4/7/2025

Third Reading Passed

Yes: 139 • No: 0 • Other: 1

Senate vote • 4/7/2025

Third Reading Passed

Yes: 47 • No: 0

Senate vote • 2/13/2025

Third Reading Passed

Yes: 45 • No: 0 • Other: 1

Actions Timeline

  1. Approved by the Governor - Chapter 213

    4/22/2025

  2. Passed Enrolled

    4/7/2025Senate

  3. Third Reading Passed (47-0)

    4/7/2025Senate

  4. Senate Concurs House Amendments

    4/7/2025Senate

  5. Third Reading Passed (139-0)

    4/7/2025House

  6. Second Reading Passed with Amendments

    4/5/2025House

  7. Favorable with Amendments {803124/1 Adopted

    4/5/2025House

  8. Favorable with Amendments Report by Economic Matters

    4/5/2025House

  9. Referred Economic Matters

    2/14/2025House

  10. Third Reading Passed (45-0)

    2/13/2025Senate

  11. Second Reading Passed

    2/11/2025Senate

  12. Favorable Adopted

    2/11/2025Senate

  13. Favorable Report by Judicial Proceedings

    2/10/2025Senate

  14. Hearing 1/31 at 10:00 a.m.

    1/28/2025Senate

  15. Hearing canceled

    1/28/2025Senate

  16. Hearing 1/31 at 11:00 a.m.

    1/27/2025Senate

  17. First Reading Judicial Proceedings

    1/24/2025Senate

Bill Text

  • Enacted

    4/22/2025

    PDF

  • Enrolled

    4/7/2025

    PDF

  • Third Reading

    2/11/2025

    PDF

  • First Reading

    1/24/2025

    PDF

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