EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*hb0120*
HOUSE BILL 120
C8 4lr0827
(PRE–FILED) CF SB 32
By: Delegate T. Morgan Delegates T. Morgan, Addison, Allen, Boyce, Jacobs,
Lehman, J. Long, Love, and Ruth
Requested: October 3, 2023
Introduced and read first time: January 10, 2024
Assigned to: Environment and Transportation
Committee Report: Favorable with amendments
House action: Adopted
Read second time: February 20, 2024
CHAPTER ______
AN ACT concerning 1
Economic Development – Maryland Watermen’s Microloan Program – Eligibility 2
FOR the purpose of expanding eligibility for the Maryland Watermen’s Microloan Program 3
within the Maryland Agricultural and Resource–Based Industry Development 4
Corporation to include, on or after a certain date, individuals who are residents of 5
the State and hold certain commercial fishing licenses issued by the Potomac River 6
Fisheries Commission; repealing a certain requirement relating to the amount of a 7
loan under the Program; and generally relating to the Maryland Watermen’s 8
Microloan Program. 9
BY repealing and reenacting, with amendments, 10
Article – Economic Development 11
Section 10–526 12
Annotated Code of Maryland 13
(2018 Replacement Volume and 2023 Supplement) 14
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 15
That the Laws of Maryland read as follows: 16
Article – Economic Development 17
10–526. 18
2 HOUSE BILL 120
(a) (1) In this section the following words have the meanings indicated. 1
(2) “Beginner waterman” means an individual who has: 2
(i) IS A RESIDENT OF THE STATE; 3
(II) 1. HOLDS a tidal fish license under § 4–701 of the Natural 4
Resources Article; OR 5
2. HOLDS A COMMERCIAL L ICENSE TO CATCH FINF ISH, 6
CRABS, CLAMS, AND OYSTERS , ISSUED BY THE POTOMAC RIVER FISHERIES 7
COMMISSION IN ACCORDA NCE WITH § 4–306 OF THE NATURAL RESOURCES 8
ARTICLE; and 9
(ii) (III) HAS at least 2 years and not more than 10 years of 10
experience in commercial seafood harvesting. 11
(3) “Generational waterman” means an individual who: 12
(i) has IS A RESIDENT OF THE STATE; 13
(II) 1. HOLDS a tidal fish license under § 4–701 of the Natural 14
Resources Article; OR 15
2. HOLDS A COMMERCIAL L ICENSE TO CATCH FINF ISH, 16
CRABS, CLAMS, AND OYSTERS , ISSUED BY THE POTOMAC RIVER FISHERIES 17
COMMISSION IN ACCORDA NCE WITH § 4–306 OF THE NATURAL RESOURCES 18
ARTICLE; and 19
(ii) (III) can demonstrate, through the submission of the two most 20
recent federal income tax returns and other supporting documents, that at least 50% of the 21
individual’s annual income is derived from commercial seafood harvesting. 22
(4) “Program” means the Maryland Watermen’s Microloan Program. 23
(5) “Qualified commercial fisherman” includes: 24
(i) a beginner waterman; [and] 25
(ii) a generational waterman; AND 26
(III) AN INDIVIDUAL WHO IS A RESIDENT OF THE STATE AND 27
HOLDS A COMMERCIAL L ICENSE TO CATCH FINF ISH, CRABS, CLAMS, OR OYSTERS 28
ISSUED BY THE POTOMAC RIVER FISHERIES COMMISSION IN ACCORDA NCE WITH § 29
4–306 OF THE NATURAL RESOURCES ARTICLE. 30 HOUSE BILL 120 3
(b) There is a Maryland Watermen’s Microloan Program in the Corporation. 1
(c) The purpose of the Program is to provide loans to qualified commercial 2
fishermen to continue commercial operations in the State, including for purchasing: 3
(1) boats; 4
(2) mechanical equipment; 5
(3) fishing gear; 6
(4) fishing quota; and 7
(5) any other item used in commercial seafood harvesting. 8
(d) The Corporation shall implement and administer the Program in accordance 9
with this section. 10
(e) (1) Through June 30, 2025, only generational watermen are eligible to 11
receive a loan under the Program. 12
(2) Starting July 1, 2025, the following persons are eligible to receive a loan 13
under the Program: 14
(i) generational watermen; 15
(ii) beginner watermen; [and] 16
(iii) seafood processing businesses; AND 17
(IV) INDIVIDUALS WHO ARE RESIDENTS OF THE STATE AND 18
HOLD A COMMERCIAL LI CENSE TO CATCH FINFI SH, CRABS, CLAMS, OR OYSTERS 19
ISSUED BY THE POTOMAC RIVER FISHERIES COMMISSION IN ACCORDA NCE WITH § 20
4–306 OF THE NATURAL RESOURCES ARTICLE. 21
(f) (1) For loans made under the Program, the Corporation shall determine: 22
(i) the eligibility of an applicant; 23
(ii) the amount of loan to be given to a borrower; 24
(iii) the terms and conditions of a loan contract; and 25
(iv) the amount of debt forgiveness that may be provided to a 26
borrower for loan repayment performance. 27 4 HOUSE BILL 120
(2) A loan made under the Program shall be at least $7,000 and not more 1
than $15,000. 2
(3) A borrower under the Program may not have more than one 3
outstanding loan from the Program during any period of time. 4
(g) (1) For each of fiscal years 2024 through 2026, the Governor shall include 5
in the annual State budget bill an appropriation of $500,000 to the Program. 6
(2) The appropriation in paragraph (1) of this subsection shall be 7
distributed to a special fund, to be used only to: 8
(i) make loans under the Program; and 9
(ii) pay the costs necessary to administer and operate the Program. 10
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 11
October July 1, 2024. 12
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
Speaker of the House of Delegates.
________________________________________________________________________________
President of the Senate.