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09.24.01 - Board of Public Accountancy - Pending Regulations

 

PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 41, ISSUE 3,
FRIDAY, FEBRUARY 7, 2014

Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY

09.24.01 General Regulation

Authority: Business Occupations and Professions Article, §§2-102, 2-207, 2-209, 2-304—2-307, 2-309, 2-311, 2-313, and 2-416, Annotated Code of Maryland

Notice of Proposed Action
[14-063-P]

The Board of Public Accountancy proposes to amend Regulation .09 under COMAR 09.24.01 General Regulations. This action was considered at a public meeting held on December 3, 2013, notice of which was given by publication in 40:22 Md. R. 1898 (November 1, 2013), pursuant to State Government Article, §10-506(c)(1), Annotated Code of Maryland.

Statement of Purpose

The purpose of this action is to increase fees for applications to qualify as a candidate to take the Uniform CPA Examination, and for individual licenses and firm permits issued by the Board in order to sustain a prudent fund balance in the Board of Public Accountancy Fund.

Comparison to Federal Standards

There is no corresponding federal standard to this proposed action.

Estimate of Economic Impact

I. Summary of Economic Impact. The proposed regulation would increase CPA examination application, individual license, and firm permit fees by 12.5%.

 
Revenue (R+/R-)
 
II. Types of Economic
Impact.
Expenditure
(E+/E-)
Magnitude

A. On issuing agency: NONE $77,610 annually
 
B. On other State agencies: NONE
 
C. On local governments: NONE
Benefit (+)
Cost (-)
Magnitude

D. On regulated industries or trade groups:
  (1) Individual License Renewals
  (2) Firm Permit Renewals
  (3) Individual CPA Examination Application
  (4) Reciprocal License Application
  (5) Transfer of Grades Application
  (6) Reinstatement of Individual Active License
  (7) Reinstatement of Inactive License Status
  (8) Reinstatement of Firm Permit


(-)

(+)

(-)

(-)

(-)

(-)

(-)

(-)


$6 per individual

$15 per firm

$7 per applicant

$7 per applicant

$7 per applicant

$12 per applicant

$6 per applicant

$30 per applicant
 
E. On other industries or trade groups: NONE
 
F. Direct and indirect effects on public: NONE
 

III. Assumptions. (Identified by Impact Letter and Number from Section II.)

  A. A 12.5% increase for fees charged for individual examination application fees, individual license fees, and firm permit fees

  D(1). A 12.5% increase for individual active license renewal fee from $50 to $56

  D(2). A 12.5% increase for firm permit renewal fee from $120 to $135

  D(3). A 12.5% increase for individual CPA Examination application fee from $60 to $67

  D(4). A 12.5% increase for individual reciprocal license application fee from $60 to $67

  D(5). A 12.5% increase for individual transfer of grades application fee from $60 to $67

  D(6). A 12% increase for individual active license reinstatement fee from $100 to $112

  D(7). A 12% increase for reinstatement of inactive status fee from $50 to $56

  D(8). A 12.5% increase of firm permit reinstatement fee from $240 to $270

Economic Impact on Small Businesses

The proposed action has a meaningful economic impact on small business. An analysis of this economic impact follows. The proposed amendments to COMAR 09.24.01.09 Fees will have the effect of increasing the cost of firm permit fees by approximately 12.5% over current fees.

Impact on Individuals with Disabilities

The proposed action has no impact on individuals with disabilities.

Opportunity for Public Comment

Comments may be sent to Dennis L. Gring, Executive Director, Board of Public Accountancy, 500 North Calvert Street, Third Floor Baltimore, MD 21202, or call 410-230-6224, or email to dgring@dllr.state.md.us, or fax to 410-962-8482. Comments will be accepted through March 10, 2014. A public hearing has not been scheduled.

Open Meeting

Final action on the proposal will be considered by the Board of Public Accountancy during a public meeting to be held on April 1, 2014 at 9 a.m., at 500 North Calvert Street, Third Floor Conference Room, Baltimore, MD 21202.

.09 Fees.
Fees charged by the Board are as follows:
  A. Original examination application fee—$[60] 67;
  B. (text unchanged)
  C. Application for reciprocity—$[60] 67;
  D. License fee—$[20] 22;
  E. Renewal fee—$[50] 56;
  F. Application for inactive status—$[25] 28;
  G. Renewal for inactive status—$[25] 28;
  H. Reinstatement for inactive status—$[50] 56;
  I. Reactivation from inactive status—$[50] 56;
  J. Reinstatement of expired license—$[100] 112;
  K. Firm application fee—$[60] 67;
  L. Firm permit fee—$[60] 67;
  M. Firm renewal fee—$[120] 135;
  N. Firm reinstatement fee—$[240] 270;
  O. Transfer of grades application—$[60] 67;
  P.—Q. (text unchanged)

ELIZABETH S. GANTNIER
Chairman