EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*hb0825*
HOUSE BILL 825
K3 5lr0667
CF SB 41
By: Delegate Pena–Melnyk
Introduced and read first time: January 29, 2025
Assigned to: Economic Matters
Committee Report: Favorable
House action: Adopted
Read second time: February 20, 2025
CHAPTER ______
AN ACT concerning 1
Maryland Small Business Retirement Savings Board – Membership – Alteration 2
FOR the purpose of adding the Comptroller, or the Comptroller’s designee, as a member to 3
the Maryland Small Business Retirement Savings Board; and generally relating to 4
the membership of the Maryland Small Business Retirement Savings Board. 5
BY repealing and reenacting, without amendments, 6
Article – Labor and Employment 7
Section 12–201(a)(1) 8
Annotated Code of Maryland 9
(2016 Replacement Volume and 2024 Supplement) 10
BY repealing and reenacting, with amendments, 11
Article – Labor and Employment 12
Section 12–201(b) 13
Annotated Code of Maryland 14
(2016 Replacement Volume and 2024 Supplement) 15
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 16
That the Laws of Maryland read as follows: 17
Article – Labor and Employment 18
12–201. 19
2 HOUSE BILL 825
(a) (1) There is a Maryland Small Business Retirement Savings Board. 1
(b) The Board consists of the following members: 2
(1) the State Treasurer, or the State Treasurer’s designee; 3
(2) the Secretary of Labor, or the Secretary’s designee; [and] 4
(3) THE COMPTROLLER , OR THE COMPTROLLER ’S DESIGNEE; AND 5
[(3)] (4) nine members with expertise in retirement programs and 6
benefits, investments, financial systems and controls, or small business, appointed as 7
follows: 8
(i) three members, appointed by the Governor; 9
(ii) three members, appointed by the President of the Senate; and 10
(iii) three members, appointed by the Speaker of the House of 11
Delegates. 12
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 13
October 1, 2025. 14
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
Speaker of the House of Delegates.
________________________________________________________________________________
President of the Senate.