Public Funding - Nonprofit Entities - Reporting

HB 129 requires nonprofits receiving at least 50% of their annual funding from specific public sources - including state/local grants, capital budgets, or local impact grants - to report funding amounts and usage to Maryland's Comptroller. This applies to IRS 501(c) exempt organizations operating in Maryland that meet the funding threshold. Nonprofits must submit these reports annually, and the Comptroller will summarize the data for the General Assembly by January 31 each year. The law takes effect July 1, 2026, aiming to standardize reporting on public funding for transparency.