Maryland Agricultural and Resource-Based Industry Development Corporation - Oyster Shucking House Loan Program

HB 397 creates a loan program administered by the Maryland Agricultural and Resource-Based Industry Development Corporation to support oyster processing businesses. It allows loans up to $250,000 for eligible seafood dealers to create or retain seasonal full-time jobs (420 hours over 12 weeks), reducing the required licensing period from 5 to 3 years. Loan forgiveness is tied to environmental actions: returning oyster shells to the Chesapeake Bay or planting spat-on-shell, with forgiveness calculated at $25 per bushel of spat planted. The bill allocates $1 million for fiscal year 2024 to fund these loans and program administration, directly benefiting Maryland seafood processors focused on oyster shell conservation.