Income Tax - Addition Modifications - Business Stock Gains, Fines, Penalties, and Bonus Depreciation
HB0801 establishes the Maryland Financial Empowerment Center Network Pilot Program within the Office of the Comptroller. The pilot is designed to create a statewide network of financial empowerment centers in different regions of Maryland, with the Comptroller responsible for implementing and administering the program. Each center must provide free one-on-one financial counseling and coaching services focused on helping residents increase savings, reduce debt, access banking services, and improve credit scores.
The bill also requires centers to make services and information available in English, Spanish, and any other language required by the Office. Financial counselors employed by the centers must complete training that meets or exceeds standards developed by the Cities for Financial Empowerment Fund. The program is temporary: it takes effect October 1, 2025, is funded through appropriations the Governor must include in fiscal years 2027 and 2028, and is set to sunset on September 30, 2028 unless extended by the General Assembly.
HB0801 adds a new subtitle to the Tax-General Article creating a state-run pilot program and authorizing the Comptroller to adopt regulations, administer the centers, and oversee implementation. It also creates a budget obligation for the Governor in fiscal years 2027 and 2028 to include funding sufficient to cover program costs. The bill affects state administrative law, budgeting, and public-facing financial counseling services, and it is intended to expand access to financial education and coaching for residents across Maryland.
The available context suggests generally favorable sentiment toward the bill, as reflected by the committee report and House action. The bill was assigned to Ways and Means, received a favorable committee report, and was adopted in the House, indicating support for the concept of a statewide financial empowerment network. No vote record or transcript is provided, so there is no evidence of organized opposition in the available materials.
No specific points of contention are documented in the provided context. Potential areas of debate inherent in the bill include the cost of the pilot program, the requirement for state appropriations in future fiscal years, the Comptroller’s administrative role, and the use of language-access requirements and external training standards. However, the available record does not identify any named opponents or disputed amendments.