MD HB397

Authorizes loans up to $25,000 per seasonal full-time job (minimum 420 hours over 12 weeks) created or retained, expanding from the previous $10,000 limit that applied only to full-time jobs

Reduces eligibility requirement for licensed seafood dealers from 5 years to 3 years of licensure to qualify for financing

Loans up to $250,000 available for eligible seafood processing projects, including historic oyster shucking facilities, that support returning oyster shells to the Chesapeake Bay

Loan forgiveness available based on market value of oyster shells returned to the Department of Natural Resources or $25 per bushel of spat-on-shell planted on public fishery bottoms

Effective July 1, 2025; approved by Governor Wes Moore on April 22, 2025