From the office of state Sen. Barry Glassman:
Annapolis, MD — Senator Barry Glassman, Harford County, introduced a bill on the Senate Floor to create a commission which will study the regulation of payroll service companies in the State of Maryland.
After fielding hundreds of small business call, Glassman found no real bonding or regulatory oversight by the State. AccuPay of Bel Air recently filed bankruptcy leaving hundreds of small businesses with delayed payroll and delinquent or missed tax payments to the State and Federal Government. The Senate suspended its rules and moved the Bill directly to the Senate Finance Committee.
The legislation requires the state to form a study commission to review and develop a regulatory regime for payroll service companies. The commission will consist of members from the Department of Labor Licensing and Regulations, Members of the Senate and House, a citizen with a strong financial background, a member from the Maryland Chamber of Commerce, and a member from the Attorney General’s office. The entire commission is designed to be led by the Maryland Comptroller’s Office and report its findings to the Legislature prior to the next legislative session.
Senator Glassman said, “Many small local businesses have been devastated by this situation and we really need to put some bonding and additional safeguards in place to prevent a repeat event of this magnitude.
Senator Glassman is in his second term in the Maryland Senate and served previously as a Harford County Councilman and Maryland State Delegate. If you would like additional information, please feel free to contact Senator Glassman at (410)440-9267.