US HB7350

Amends Title 46 to expand Department of Transportation and Maritime Administration direct loan programs to cover used fishing vessels and vessels in the fishing industry or seafood related trade

Increases the maximum loan guarantee for fishing vessels from the current limit to 87.5 percent of actual cost or depreciated cost when the Administrator guarantees an obligation

Creates a 2-year eligibility window for fishing vessels over 79 feet built and documented after January 1, 2021, to qualify for loan guarantees without meeting reconstruction or reconditioning requirements

Prohibits loan guarantees that the Secretary determines are inconsistent with wise use of fisheries resources under the Magnuson-Stevens Fishery Conservation and Management Act

Requires that guarantees for fishing or seafood vessel construction or refinancing use only funds appropriated on or after the National Defense Authorization Act for Fiscal Year 2026