Legislative / Regulatory

One third of the way through and lots happening

DSC03594 As we enter week # 4 of the Maryland General Assembly, two (2) of our major pieces of legislation are set for hearings and still watching for other bills that may impact CPAs in Maryland.

1) 120/150 CPA exam requirements - SB 287 - State Board of Public Accountancy - Educational Requirements for Examination and Licensure scheduled for a hearing on February 17th in the Senate Education, Health & Environmental Affairs Committee - This bill passed the House last year with no opposition and ran out of time before the end of session.

2) "Safe Harbor" language - House Bill 328 / Senate Bill 370, "Accountants - Regulation - Preparation of a Compilation of Financial Statements" scheduled for a hearing on February 15th in the House Economic Matters Committee. This is the "technical correction" bill necessary due to recent changes in SSARs.

In addition our State Tax Committee recently requested our support of SB 31 Interest Rate on Tax Deficiencies and Refunds in the Senate Budget & Taxation Committee.

We have initiated our key person contacts and CPA Day participants to begin contacting legislators with our requests for support.

Here is the scorecard:

  • Support SB 287 (Senate EHEA/House Economic Matters)
  • Support HB 328 / SB 370 (Senate EHEA/House Economic Matters)
  • Vote NO to registration of Debt Counselors (if CPAs are not exempt)
  • Vote NO to Sales Taxes on Accounting and Tax services
  • Vote NO to Comparative Fault legislation

Here is our post about our 2011 Legislative Priorities

Time to start contacting your legislators and stay tuned for updates...