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Governor Signs Economic Development Legislation

May 17, 2023

“The Access to Banking Act” aimed at helping Small Businesses

Governor Signs Economic Development Legislation

Governor Wes Moore and legislative leaders enacted “The Access to Banking Act,” passed by the General Assembly this past session. The bill, HB548, creates the Maryland Community Investment Venture Fund. The purpose of the Fund is to develop opportunities for banks and credit unions to better serve the needs of low- to moderate-income tracts. According to the Moore Administration, the law will have a positive impact on small businesses in these tracts by ensuring the availability of credit and investment capital. For questions, please reach out to NFIB Maryland State Director Mike O’Halloran.

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Governor Signs Economic Development Legislation

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