The legislature finds that:

1. (1) Aquaculture is a potentially viable industry for the State.
2. (2) Conventional financial institutions traditionally do not provide loans in the initiating stages for the establishment of new industries.
3. (3) No present state agency or program has the authority to financially assist an enterprise engaged in aquaculture.

4. (4) The State should initiate a loan program to assist aquaculture and the techniques of aquaculture as a new industry.

   The purpose of this chapter is to establish a loan program to financially assist in the development of aquaculture in the State.

[L 1971, c 181, pt of §1; ree L 1977, c 212, pt of §2]