Great news for nonprofits! Two bills that Elise Saltzberg testified in favor of passed in the Maryland General Assembly.
Together, these bills ensure that nonprofits can afford to receive funding from the State of Maryland. This has been a major concern, especially for smaller and newer organizations, as the wait time for payouts can be months – much longer than many groups can bear.
The first to pass was Senate Bill (SB) 112, entitled "State Finance and Procurement - Grants - Prompt Payment Requirement." Its passage guarantees nonprofits that deliver state services have the same security for prompt payment that's already in place for procurement contracts.
The second, which passed on the last day of the legislative session, is SB0053. The Maryland Nonprofit Development Center Program - Nonprofit, Interest-Free, Micro Bridge Loan (NIMBL) Account - Funding bill requires the Governor to include an appropriation of $1,000,000 to the Maryland Nonprofit Development Center Program Fund the NIMBL Account in the annual budget bill. SB0053 strengthens the NIMBL bill that was passed by the General Assembly in 2022.
Both bills were signed into law by Governor Moore.