Business Entity Ownership Disclosures

BUSINESS ENTITY OWNERSHIP DISCLOSURE – GOVERNOR OR RESTRICTED INDIVIDUAL

Effective October 1, 2025 and pursuant to §5-501.1(E)(2) of the Maryland Public Ethics Law (Md. Code Ann., Gen’l Prov., Title 5 (2025), a business entity that seeks to obtain a State grant, competitive award, or contract, including a contract for the sale or purchase of real or personal property, shall report to the State Ethics Commission any interest held in the business entity by the Governor or “Restricted Individual” as defined in §5-501.1(A)(1-9) of the Maryland Public Ethics Law. This new disclosure requirement was part of HB 932 (CH 300 2025) and includes additional transparency and disclosure requirements for businesses seeking State funds with certain ownership interests held by the Governor or a statutorily defined “Restricted Individual.” Disclosure forms are filed with the State Ethics Commission and must be published on the Commission’s website.

• A Spouse of the Governor
• A Parent or Stepparent of the Governor
• A Sibling or Stepsibling of the Governor
• A Child, Stepchild, Foster Child, or Ward Of the Governor
• A Mother-In-Law or Father-In-Law of The Governor
• A Son-In-Law or Daughter-In-Law of The Governor
• A Grandparent of the Governor or the Governor’s Spouse
• A Grandchild of the Governor
• Except for an Employee of the Governor, Any Individual Who Resides in the Governor’s Primary Residence

BUSINESS ENTITY OWNERSHIP DISCLOSURE – GOVERNOR OR RESTRICTED INDIVIDUAL (FORM 30) – COMING SOON

2025 Forms submitted to the State Ethics Commission pursuant to §5-501.1(E)(2) of the Maryland Public Ethics Law (Md. Code Ann., Gen’l Prov., Title 5 (2025) – COMING SOON

Penalties for Noncompliance:
Pursuant to §5-903(a)(2) of the Maryland Public Ethics Law (Md. Code Ann., Gen’l Prov. Title 5 (2025)), a person that knowingly and willfully violates §5.501.1(E) of the Law is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $10,000 or imprisonment not exceeding 1 year or both.

Pursuant to §5-903(b) of the Maryland Public Ethics Law, if the person is not an individual, each officer or partner who knowingly authorizes or participates in violation of §5.501.1(E) is guilty of a misdemeanor and on conviction is subject to the penalty specified in §5-903(a) referenced above.