HB 917 Maryland House of Delegates · 2025 Regular Session

Corporations and Associations - Maryland Securities Act - Filing Fees

HB 917 increases filing fees under Maryland's Securities Act for businesses and individuals submitting certain securities-related documents. It raises exemption filing fees from $100 to $250 per filing, increases initial federal covered securities notice fees from $100 to $250, adds a $300 fee for amended filings, and imposes a $150 late fee. These changes directly affect entities required to file under exemptions like § 11-601(16) or federal covered securities notices. The bill takes effect October 1, 2025, with no changes to filing requirements or regulations.

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

House of Delegates Passage

Mar 2025

Senate Passage

Governor

Introduced Jan 31, 2025 Last action Mar 19, 2025

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First - Corporations and Associations - Maryland Securities Act - Filing Fees → Third - Corporations and Associations - Maryland Securities Act - Filing Fees · 5 edits

MODERATE

This bill updates filing fee structures for securities registration and exemptions under the Maryland Securities Act. It establishes a sliding fee scale based on offering price for securities registration (minimum $500, maximum $1,500) and sets specific fees for exemption filings ($400 per filing) and federal covered security notices ($250 initial, $300 amended, $150 late). The changes standardize fee collection and ensure the state retains fees when filings are withdrawn or stop orders are entered.

Scope change

The bill applies to all persons filing applications to register securities, submitting filings under exemptions, and submitting notices for federal covered securities under the Maryland Securities Act.

FISCAL

Registration fees changed from a flat fee to a percentage-based fee (0.1% of maximum offering price) with minimum $500 and maximum $1,500 limits.

Exemption filing fees standardized to $400 per filing for all qualifying filings under the title.

Federal covered security notice fees structured into three tiers: $250 for initial filings, $300 for amended filings, and $150 for late filings.

ENFORCEMENT

Clarified that the Commissioner retains fees when applications are withdrawn before effective date, notices are withdrawn, or preeffective stop orders are entered.

TECHNICAL

Bill progressed from first reading to second reading with favorable committee report and amendments, now awaiting final legislative action.

Floor votes · House of Delegates Feb 28, 2025

How they voted

97–39

Passed · 3 other

Total votes 139

Feb 28, 2025

D Democratic100

97 Yea 3

97% Yea

R Republican39

39 Nay

100% Nay

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 12, 2025

Committee

Referred Judicial Proceedings

upper

Mar 11, 2025

Lower · Passed

Third Reading Passed

lower

Mar 11, 2025

Lower · Passed

Favorable with Amendments {

lower

Mar 10, 2025

Lower · Passed

Favorable with Amendments Report by Economic Matters

lower

Feb 28, 2025

House Of Delegates · Passed

House of Delegates Vote: pass (97-39-3)

house of delegates

Jan 31, 2025

Committee

First Reading Economic Matters

lower

1 primary · 0 co-sponsors