SB 354 Maryland Senate · 2026 Regular Session

Business Regulation - Charitable Organizations - Audit and Review Thresholds

SB 354 increases the gross income thresholds that require charitable organizations in Maryland to submit an audit or review with their registration. It raises the audit threshold from $750,000 to $1,000,000 in annual charitable contributions and the review threshold from $300,000 to $500,000. The bill also increases the cash receipts limit for which the Secretary of State may accept an affidavit from $300,000 to $500,000 under specific conditions. These changes apply to organizations registering with the Maryland Secretary of State.

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

Apr 2026

Senate Passage

Apr 2026

House of Delegates Passage

Apr 2026

Signed into Law

May 2026

Introduced Jan 23, 2026 Signed May 12, 2026

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What changed between versions

Third - Business Regulation - Charitable Organizations - Audit and Review Thresholds → Enrolled - Business Regulation - Charitable Organizations - Audit and Review Thresholds · 4 edits · May 12, 2026

MODERATE

SB 354 was enrolled and approved by the Governor, finalizing the bill's progression from Senate adoption to law. The substantive policy changes raised the financial thresholds for mandatory audits and reviews for charitable organizations, increasing the audit requirement from $750,000 to $1,000,000 and the review requirement from $300,000 to $500,000. Additionally, a new $400,000 threshold was inserted into the review criteria, creating a specific tier for organizations with income between $400,000 and $1,000,000.

Scope change

The bill's scope regarding which organizations must undergo financial scrutiny was expanded to include entities with lower gross incomes from charitable contributions, while simultaneously raising the upper limits for mandatory audits.

REQUIREMENT

Increased the gross income threshold for requiring a full independent audit from $750,000 to $1,000,000.

Increased the gross income threshold for requiring an independent review from $300,000 to $500,000.

Added a new income tier requiring a review for organizations with gross income between $400,000 and $1,000,000.

TECHNICAL

Added formal enrollment signatures and proofreader lines, indicating the bill has passed all legislative stages and is ready for the Governor's final signature.

Floor votes · Senate Mar 26, 2026 · House of Delegates Mar 30, 2026

How they voted

48–0

Passed · 1 other

Total votes 49

Mar 26, 2026

D Democratic36

36 Yea

100% Yea

R Republican13

12 Yea 1

92% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 12, 2026

Signed into law

Approved by the Governor - Chapter 394

executive

Apr 13, 2026

Upper · Passed

Passed Enrolled

upper

Apr 13, 2026

Introduced

Senate Concurs House Amendments

upper

Apr 13, 2026

Lower · Passed

Third Reading Passed

lower

Apr 9, 2026

Lower · Passed

Favorable with Amendments {

lower

Apr 9, 2026

Lower · Passed

Favorable with Amendments Report by Economic Matters

lower

Mar 30, 2026

House Of Delegates · Passed

House of Delegates Vote: pass (101-35-6)

house of delegates

Mar 26, 2026

Senate · Passed

Senate Vote: pass (48-0-1)

senate

Mar 13, 2026

Committee

Referred Economic Matters

lower

Mar 12, 2026

Upper · Passed

Third Reading Passed

upper

Mar 10, 2026

Upper · Passed

Favorable Adopted

upper

Mar 9, 2026

Upper · Passed

Favorable Report by Judicial Proceedings

upper

Jan 23, 2026

Committee

First Reading Judicial Proceedings

upper

2 primary · 0 co-sponsors