# Maryland SB 0920: Economic Development - Small, Minority, and Women-Owned Business Accounts - Management Fees (Small Business Increased Access to Capital Act)

Maryland SB 0920, Economic Development - Small, Minority, and Women-Owned Business Accounts - Management Fees (Small Business Increased Access to Capital Act), is a 2026 Regular Session Senate bill sponsored by Kevin M. Harris (Democratic); status signed, last action 2026-05-12 (Approved by the Governor - Chapter 392) (as of 2026-10-19).

- Canonical: https://policyrisk.com/state-bill/MD-SB0920-2026RS
- As of: 2026-10-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Maryland SB 0920
- State: Maryland
- Session: 2026 Regular Session
- Title: Economic Development - Small, Minority, and Women-Owned Business Accounts - Management Fees (Small Business Increased Access to Capital Act)
- Status: signed
- Chamber: Senate
- Introduced: 2026-02-06
- Last action: 2026-05-12, Approved by the Governor - Chapter 392
- Sponsor: Kevin M. Harris (Democratic)
- Cosponsors: 2
- Subjects: Economic Development, Commerce and Business -see also- ElectrComm; ForeignTr; etc., Commerce, Department of, Fees -see also- Attys' Fees; Devt Fees & Taxes, Minorities, Small Business, Standards and Best Practices, Women -see also- Gender
- Touches household money: no
- Roll calls: 2 (168 yes, 13 no in all)
- Economic provisions PRIA read: 3

## Summary

No summary available.

## Bill overview: provisions PRIA read

- Who can manage these business funds: benefit, low. Beginning July 1, 2026, an eligible fund manager is an entity with significant financial or investment experience under rules set by the Department of Commerce. The Department may also designate an entity to manage funds the program receives. These rules decide who may manage the accounts and seek…
- Capped fees for small-business loan managers: mixed, medium. Beginning July 1, 2026, eligible fund managers may collect a management fee on each program loan if the Department authorizes it. The fee is 1.5% to 3% of the total loan principal. The fee is paid from the Small, Minority, and Women‑Owned Business Accounts and may be kept by the manager for lending…
- Grant money for admin costs, with cap: mixed, low. Beginning July 1, 2026, eligible fund managers can use program grants to pay admin, actuarial, legal, and technical costs. The Department of Commerce sets the maximum that each manager may use from those grants.

## Sponsors and cosponsors

- Sponsor: Kevin M. Harris (Democratic), Senate
- Cosponsor: Nick Charles (Democratic), Senate
- Cosponsor: C. Anthony Muse (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-04-13 | House | Third Reading Passed | pass | 123 | 13 | 4 |
| 2026-03-19 | Senate | Third Reading Passed | pass | 45 | 0 |   |

## Actions (13)

- 2026-05-12: Approved by the Governor - Chapter 392
- 2026-04-13: Returned Passed (Senate)
- 2026-04-13: Third Reading Passed (123-13) (House)
- 2026-04-08: Second Reading Passed (House)
- 2026-04-08: Favorable Adopted (House)
- 2026-04-08: Favorable Report by Economic Matters (House)
- 2026-03-20: Referred Economic Matters (House)
- 2026-03-19: Third Reading Passed (45-0) (Senate)
- 2026-03-17: Second Reading Passed with Amendments (Senate)
- 2026-03-17: Favorable with Amendments {373229/1 Adopted (Senate)
- 2026-03-16: Favorable with Amendments Report by Finance (Senate)
- 2026-02-12: Hearing 3/05 at 1:00 p.m. (Senate)
- 2026-02-06: First Reading Finance (Senate)

## Bill text

- Enacted, 2026-05-12: [PDF](https://mgaleg.maryland.gov/2026RS/Chapters_noln/CH_392_sb0920t.pdf)
- Third Reading, 2026-03-17: [PDF](https://mgaleg.maryland.gov/2026RS/bills/sb/sb0920t.pdf)
- First Reading, 2026-02-06: [PDF](https://mgaleg.maryland.gov/2026RS/bills/sb/sb0920f.pdf)

## Related bills

- SB 0496: Maryland Medical Assistance Program - Coverage for the Treatment of Obesity - Authorization (became law)
- SB 0366: Motor Vehicles - Intelligent Speed Assistance System Pilot Program - Establishment (became law)
- SB 0244: Code Revision - Health - Maryland Medical Assistance Program (became law)
- SB 0148: Income Tax - Credit for 9-1-1 Specialist Retirement Income (Supporting Our 9-1-1 Specialists Act) (became law)
- SB 0016: Child Support - Earnings Withholdings Limits (became law)
- HB 0529: Code Revision - Health - Maryland Medical Assistance Program (became law)

## Sources
- [Enacted (PDF)](https://mgaleg.maryland.gov/2026RS/Chapters_noln/CH_392_sb0920t.pdf)
- [Third Reading (PDF)](https://mgaleg.maryland.gov/2026RS/bills/sb/sb0920t.pdf)
- [First Reading (PDF)](https://mgaleg.maryland.gov/2026RS/bills/sb/sb0920f.pdf)

## Related
- [SB 0496: Maryland Medical Assistance Program - Coverage for the Treatment of Obesity - A…](https://policyrisk.com/state-bill/MD-SB0496-2026RS)
- [SB 0366: Motor Vehicles - Intelligent Speed Assistance System Pilot Program - Establishm…](https://policyrisk.com/state-bill/MD-SB0366-2026RS)
- [SB 0244: Code Revision - Health - Maryland Medical Assistance Program](https://policyrisk.com/state-bill/MD-SB0244-2026RS)
- [SB 0148: Income Tax - Credit for 9-1-1 Specialist Retirement Income (Supporting Our 9-1-…](https://policyrisk.com/state-bill/MD-SB0148-2026RS)
- [SB 0016: Child Support - Earnings Withholdings Limits](https://policyrisk.com/state-bill/MD-SB0016-2026RS)
- [HB 0529: Code Revision - Health - Maryland Medical Assistance Program](https://policyrisk.com/state-bill/MD-HB0529-2026RS)
- [Maryland bills](https://policyrisk.com/states/maryland/bills)
- [Maryland state hub](https://policyrisk.com/states/maryland)
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Source: PRIA, https://policyrisk.com/state-bill/MD-SB0920-2026RS (as of 2026-10-19).