Bill
Bill > HB1242
summary
Introduced
02/11/2022
02/11/2022
In Committee
02/11/2022
02/11/2022
Crossed Over
Passed
Dead
04/11/2022
04/11/2022
Introduced Session
2022 Regular Session
Bill Summary
Establishing the Maryland Watermen's Microloan Program in the Maryland Agricultural and Resource-Based Industry Development Corporation to provide loans to qualified commercial fishermen to continue commercial operations in the State; providing, beginning July 1, 2025, that generational watermen, beginner watermen, and seafood processing businesses are eligible to receive loans under the Program; requiring a loan made under the Program to be at least $7,000 and not more than $15,000; etc.
AI Summary
This bill establishes the Maryland Watermen's Microloan Program in the Maryland Agricultural and Resource-Based Industry Development Corporation to provide loans to qualified commercial fishermen, including generational watermen and beginner watermen, as well as seafood processing businesses, to continue their commercial operations in the state. The loans can be used to purchase boats, equipment, fishing gear, and other items used in commercial seafood harvesting. The bill sets the minimum loan amount at $7,000 and the maximum at $15,000, and prohibits borrowers from having more than one outstanding loan from the program at a time. The bill also appropriates $750,000 for the program in fiscal years 2024 and 2025.
Committee Categories
Transportation and Infrastructure
Sponsors (6)
Johnny Mautz (R)*,
Chris Adams (R),
Steve Arentz (R),
Kevin Hornberger (R),
Jay Jacobs (R),
Susan McComas (R),
Last Action
Hearing 3/09 at 2:15 p.m. (Environment and Transportation) (on 03/09/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1242?ys=2022RS |
| BillText | https://mgaleg.maryland.gov/2022RS/bills/hb/hb1242f.pdf |
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