Economic Matters Committee advances package of bills on consumer protections, cannabis, crypto and mortgages

Annapolis — On April 1 the Maryland House Economic Matters Committee voted to advance a package of Senate bills covering consumer protections, cannabis licensing, workers compensation funding, virtual-currency kiosks and mortgage law clarifications.

The committee moved nine bills to the floor, many with amendments. Committee members debated provisions including limits on automatic subscription renewals, whether to permit on-site cannabis consumption in the near term, clarification of liability and membership on the Uninsured Employers' Fund board, limits and labeling for cryptocurrency kiosks, and changes to mortgage licensing tied to court guidance about the secondary mortgage market.

The committee’s action matters because several measures alter regulatory definitions or funding mechanisms that affect businesses, consumers and state programs. For example, members approved clarifying language exempting certain entities from the state's mortgage-lender law, advanced changes that will fund reserves for the Uninsured Employers' Fund, and approved a new licensing framework for virtual-currency kiosks intended to distinguish them from ATMs.

Senate Bill 49: automatic renewals

Senate Bill 49, which establishes a regulatory framework for automatic renewals, was amended in committee to clarify termination procedures and to state that an entity or its affiliate regulated under the Maryland service-contract law is not subject to the statute. The committee adopted the amendment and moved the bill forward after a roll call. Committee discussion on the bill was brief; no substantive dissent was recorded in the transcript excerpt.

Senate Bill 215: cannabis on-site consumption

Senate Bill 215, the Maryland Cannabis Administration measure that would authorize on-site consumption licenses, was discussed at length but committee members indicated the bill removes event authorization and pauses a planned round of consumption-license issuance. A committee member said consumption licenses were effectively deferred so the General…