Maryland Financial Empowerment Center Network Pilot Program - Establishment

EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0518*

SENATE BILL 518
O1 6lr0921
CF HB 676
By: Senator King
Introduced and read first time: February 3, 2026
Assigned to: Budget and Taxation
Committee Report: Favorable
Senate action: Adopted
Read second time: February 28, 2026

CHAPTER ______

AN ACT concerning 1

Maryland Financial Empowerment Center Network Pilot Program – 2
Establishment 3

FOR the purpose of establishing the Maryland Financial Empowerment Center Network 4
Pilot Program within the Office of the Comptroller; and generally relating to the 5
Maryland Financial Empowerment Center Network Pilot Program. 6

BY adding to 7
Article – Tax – General 8
Section 1 –501 through 1 –505 to be under the n ew subtitle “Subtitle 5. Maryland 9
Financial Empowerment Center Network Pilot Program” 10
Annotated Code of Maryland 11
(2022 Replacement Volume and 2025 Supplement) 12

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 13
That the Laws of Maryland read as follows: 14

Article – Tax – General 15

SUBTITLE 5. MARYLAND FINANCIAL EMPOWERMENT CENTER NETWORK PILOT 16
PROGRAM. 17

1–501. 18

(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 19
2 SENATE BILL 518

INDICATED. 1

(B) “CENTER” MEANS A FINANCIAL EMPOWERMENT CENTER ESTABLISHED 2
UNDER THE PILOT PROGRAM. 3

(C) “PILOT PROGRAM” MEANS THE MARYLAND FINANCIAL 4
EMPOWERMENT CENTER NETWORK PILOT PROGRAM. 5

1–502. 6

(A) THERE IS A MARYLAND FINANCIAL EMPOWERMENT CENTER NETWORK 7
PILOT PROGRAM. 8

(B) THE PURPOSE OF THE PILOT PROGRAM IS TO ESTABLISH A STATEWIDE 9
NETWORK OF FINANCIAL EMPOWERMENT CENTERS IN DIFFERENT REGIONS OF THE 10
STATE. 11

(C) THE COMPTROLLER SHALL IMP LEMENT AND ADMINISTE R THE PILOT 12
PROGRAM. 13

1–503. 14

(A) (1) EACH CENTER SHALL PRO VIDE ONE –ON–ONE FINANCIAL 15
COUNSELING AND COACH ING SERV ICES FREE OF CHARGE , INCLUDING 16
INFORMATION ON HOW TO: 17

(I) INCREASE SAVINGS; 18

(II) PAY DOWN DEBT; 19

(III) ACCESS BANKING; AND 20

(IV) IMPROVE CREDIT SCORES. 21

(2) EACH CENTER SHALL MAKE THE INFORMATION PROVIDED UNDER 22
THIS SUBSECTION AVAI LABLE IN ENGLISH, SPANISH, AND ANY OTHER LANGUA GE 23
REQUIRED BY THE OFFICE OF THE COMPTROLLER. 24

(B) EACH FINANCIAL COUNSE LOR EMPLOYED BY A CE NTER SHALL 25
COMPLETE TRAINING TH AT MEETS OR EXCEEDS THE FINANCIAL EMPOWERMENT 26
CENTER COUNSELOR TRAINING STANDARDS DEVELOPED B Y THE CITIES FOR 27
FINANCIAL EMPOWERMENT FUND. 28

SENATE BILL 518 3

1–504. 1

FOR FISCAL YEARS 2028 AND 2029, THE GOVERNOR SHALL INCLUDE IN THE 2
ANNUAL BUDGET BILL A N APPROPRIATION TO T HE COMPTROLLER IN AN AMO UNT 3
SUFFICIENT TO COVER THE COSTS OF THE PILOT PROGRAM. 4

1–505. 5

THE COMPTROLLER SHALL ADOP T REGULATIONS TO CAR RY OUT THIS 6
SUBTITLE. 7

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 8
October 1, 2026. It shall remain effective for a period of 3 years and, at the end of September 9
30, 2029, this Act, with n o further action required by the General Assembly, shall be 10
abrogated and of no further force and effect. 11

Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.