With less than a week to go, the pace has moved into high gear in Annapolis as lawmakers finalize work on more than 2,200 pieces of legislation introduced this session. To date, we have achieved several successes related to the MACPA’s legislative agenda. Several bills have stalled in committee, which means they may not see the light of day this year.
With the support from many of our key contacts, the Senate bill to modify the definition of attest (SB 536) successfully passed both chambers. The House version (HB 878) has received a favorable vote in the Senate committee and is now headed to the Senate floor for a final vote.
Our network of key contacts also worked very hard to move the appeal bond cap bills (supersedeas bonds) from the Senate and House committees. MACPA member Sen. Brian Feldman, a CPA himself, sponsored our bill in the Senate (SB 301). Despite strong opposition by the trial bar, we were successful in getting the bill out of the House Judiciary Committee on April 8 with a vote of 20-0. Now we have a final push to get it through the full House and out of the Senate Judicial Proceedings Committee before the session ends (Sine Die) at midnight on Monday.
The MACPA opposed two pieces of legislation that required certain corporations to compute Maryland taxable income using a specified combined reporting method. The complexity and short implementation date in the bills were the key reasons for our opposition. Both bills remain in committee awaiting a vote.
We continue to support Sen. Gail Bates’ effort to recouple Section 179 and bonus depreciation. Sen. Bates also is a CPA and an MACPA member.
The MACPA opposed legislation that would prohibit non-compete clauses and non-disclosure agreements. Both bills failed in committee.
On the regulatory front, our State Board of Accountancy approved the final regulations for 10-minute CPE effective on March 31, 2015.
Our thanks to all of our CPAs who attended CPA Day, testified in Annapolis, and take time to write and call the legislators during their busiest time of year!
More on our legislative advocacy efforts: