Business Regulation - Travel Services - Special Fund, Fees, and Surety Requirement (Don't You Worry (Wurie) Act)
What changed between versions
Created a new Sellers of Travel Registration Fund as a special, nonlapsing fund that is not subject to state finance restrictions.
Added requirement that all fees collected under the travel services subtitle be paid to the Comptroller and distributed to the Fund.
Added requirement that any investment earnings from the Fund be credited to the General Fund of the State.
Added requirement for the Secretary of Labor to annually calculate direct and indirect costs attributable to the department under the travel services subtitle.
Authorized the Department to establish fees based on the Secretary's cost calculations, with annual fee increases capped at 12.5%.
Changed Section 17-2202 to require proof of professional liability and errors and omissions insurance of at least $1,000,000 as evidence of financial security, replacing the previous surety bond requirements.
Added requirement for the Legislative Auditor to audit the Fund's accounts and transactions as provided in State Government Article.
Added new definitions for 'Fund' and 'Registration Fund' to clarify the financial structure.