Sounds like they failed to do an economic impact study on such a bill. I can only imagine how much revenue comes into Maine due to fresh water fishing (including ice fishing).
BTW, technically, aren't steel hooks biodegradable? They rust and rot away given time and don't pollute the environment. Even "stainless steel" hooks will break down given enough time.
I think the lure manufacturers should look into what the definition of 'biodegradable' that these people are using. If it's not defined, then [IMO] as long as it breaks down to fit the broad definition (even if it take 20+ years) then follow that. If they expect it to be totally degraded in a year, then they're just being stupid. Of course, being stupid has never stopped any politico from trying to push a bill through.