Maryland HB118: Maryland Money Transmission Act - Definition of Money Transmitter - Alteration

What the bill says

An act concerning Maryland Money Transmission Act - Definition of Money Transmitter - Alteration FOR the purpose of altering, for a certain licensing requirement, the definition of "money transmitter" under the Maryland Money Transmission Act to exclude a certain person designated as an agent of a payor for the purpose of the agent's provision of payroll processing services under certain circumstances; and generally relating to the Maryland Money Transmission Act…

From the enrolled text, April 21, 2026:

AN ACT concerning Maryland Money Transmission Act - Definition of Money Transmitter - Alteration FOR the purpose of altering, for a certain licensing requirement, the definition of "money transmitter" under the Maryland Money Transmission Act to exclude a certain person designated as an agent of a payor for the purpose of the agent's provision of payroll processing services under certain circumstances; and generally relating to the Maryland Money Transmission Act. BY repealing and reenacting, without amendments, Article - Financial Institutions Section 12-401(a) Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) BY repealing and reenacting, with amendments, Article - Financial Institutions Section 12-401(q) Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Financial Institutions 12-401. (a) In this subtitle the following words have the meanings indicated. (q) (1) "Money transmitter" means a person that engages in money transmission that is required to be licensed under this subtitle, whether or not the person maintains a license. (2) "Money transmitter" and (ii) An accelerated mortgage payment service. Ch. 20 2026 LAWS OF MARYLAND (3) "MONEY TRANSMITTER" DOES NOT INCLUDE A PERSON DESIGNATED AS AN AGENT OF A PAYOR FOR THE PURPOSE OF PROVIDING PAYROLL PROCESSING SERVICES FOR WHICH THE …

Read the full official text

Sponsors

• Pamela Queen (D, 14) · primary sponsor

Latest actions

1. April 14, 2026: Approved by the Governor - Chapter 20
2. April 9, 2026: Returned Passed
3. April 8, 2026: Third Reading Passed (44-0)
4. April 7, 2026: Second Reading Passed
5. April 7, 2026: Favorable Adopted
6. April 6, 2026: Favorable Report by Finance
7. March 18, 2026: Hearing 3/24 at 1:00 p.m.
8. February 27, 2026: Referred Finance
9. February 26, 2026: Third Reading Passed (136-0)
10. February 25, 2026: Favorable Adopted Second Reading Passed

Votes

• Third Reading Passed (44-0) (April 8, 2026): 44 yea, 0 nay, passed
• Third Reading Passed (136-0) (February 26, 2026): 136 yea, 0 nay, passed

Common questions

What is HB118?

HB118 is a bill in the Maryland Legislature (2026 Regular Session): Maryland Money Transmission Act - Definition of Money Transmitter - Alteration.

What does HB118 do?

In its own words: An act concerning Maryland Money Transmission Act - Definition of Money Transmitter - Alteration FOR the purpose of altering, for a certain licensing requirement, the definition of "money transmitter" under the Maryland Money Transmission Act to exclude a certain person designated as an agent of a payor for the purpose of the agent's provision of payroll processing services under certain circumstances; and generally relating to the Maryland Money Transmission Act…

What is the status of HB118?

Signed into law as of April 14, 2026. Latest action: Approved by the Governor - Chapter 20 (April 14, 2026).

Who sponsored HB118?

Pamela Queen (D, 14).

Where is the official record for HB118?

On the Maryland Legislature website: https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/hb0118?ys=2026RS