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DOC/NOAA | RIN: 0648-BE90 | Publication ID: Spring 2016 |
Title: Pacific Coast Groundfish Fishing Capacity Reduction Loan Refinance (Section 610 Review) | |
Abstract:
The National Marine Fisheries Service (NMFS) issued proposed regulations to refinance the voluntary fishing capacity reduction loan program implemented in 2004 in the Pacific Coast groundfish Federal limited-entry trawl, Washington coastal Dungeness crab, and California pink shrimp fisheries (collectively known hereafter as the refinanced reduction fisheries). The refinance loan of up to $30 million could establish a new industry fee system for future landings of the refinanced reduction fisheries. Upon publishing a final rule and receipt of an appropriation, NMFS would conduct three referenda to refinance the existing debt obligation in each of the refinanced reduction fisheries. If a referendum in one, two, or all three of the fisheries is successful, that fishery's current loan will be repaid in full and a new loan in the amount of the principal and interest balance as of the date of funding will be issued. The terms were prescribed in the 2015 National Defense Authorization Act and include a 45-year term to maturity, interest charged at a current Treasury interest rate, and a maximum repayment fee of 3 percent of ex-vessel value. |
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Agency: Department of Commerce(DOC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
RFA Section 610 Review: Section 610 Review | |
CFR Citation: 50 CFR 660 | |
Legal Authority: 16 U.S.C. 1801 et seq. 16 U.S.C. 1861 et seq. 5 U.S.C. 561 et seq. |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Brian Pawlak Department of Commerce National Oceanic and Atmospheric Administration 1315 East-West Highway, Silver Spring, MD 20910 Phone:301 427-8621 Email: brian.t.pawlak@noaa.gov |