---
type: "Bill"
title: "State Retirement and Pension System – Nonvested Accounts – Regular Interest"
description: "State Retirement and Pension System – Nonvested Accounts – Regular Interest"
jurisdiction: "us/states/md"
legislature: "Maryland General Assembly"
session: "2023"
identifier: "SB 481"
citation: "Maryland SB 481 (2023)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Benson", "Lewis Young"]
version_count: 3
action_count: 15
vote_count: 0
first_action: "2023-02-03"
last_action: "2023-04-24"
source: "openstates"
source_identifier: "ocd-bill/d2157c4c-5103-46b7-bcab-04605d155499"
source_url: "http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0481?ys=2023RS&search=True"
source_hash: "b1d80fee985c308f50ecbabacf1c3836906bfc78ca218cc3fc8db883932e6137"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-md"]
---

# Maryland SB 481 (2023) — State Retirement and Pension System – Nonvested Accounts – Regular Interest

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Chapter - State Retirement and Pension System – Nonvested Accounts – Regular Interest** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/Chapters_noln/CH_234_sb0481t.pdf)
2. **First - State Retirement and Pension System – Nonvested Accounts – Regular Interest** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/bills/sb/sb0481f.pdf)
3. **Third - State Retirement and Pension System – Nonvested Accounts – Regular Interest** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/bills/sb/sb0481t.pdf)

## Sponsors

- Benson — primary (person)
- Lewis Young — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-02-03** First Reading Budget and Taxation `referral-committee`
- **2023-02-03** Hearing 2/16 at 8:30 a.m.
- **2023-03-08** Favorable with Amendments Report by Budget and Taxation `committee-passage-favorable`
- **2023-03-09** Favorable with Amendments { `committee-passage-favorable`
- **2023-03-09** Second Reading Passed with Amendments
- **2023-03-13** Third Reading Passed `passage`
- **2023-03-14** Referred Appropriations `referral-committee`
- **2023-03-22** Hearing 3/29 at 1:00 p.m.
- **2023-03-26** Hearing canceled
- **2023-03-26** Hearing 3/29 at 1:00 p.m.
- **2023-03-30** Favorable Report by Appropriations `committee-passage-favorable`
- **2023-03-30** Favorable Adopted Second Reading Passed `committee-passage-favorable`
- **2023-04-04** Third Reading Passed `passage`
- **2023-04-04** Returned Passed
- **2023-04-24** Approved by the Governor - Chapter 234 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/d2157c4c-5103-46b7-bcab-04605d155499`. Confidence: reported (aggregated from official Maryland legislature records).