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DOC/NOAA

RIN: 0648-AK76

Publication ID: Fall 2002

Title: Fishing Capacity Reduction Program
Abstract: This action establishes a fishing capacity reduction program, commonly called a buyback, as required by the Sustainable Fisheries Act to address the problem of excess fishing capacity in most fisheries. This involves paying fishermen to either surrender their fishing permits or both surrender their permits and scrap their fishing vessels. Costs of reducing capacity can be paid by post-reduction harvesters, taxpayers, or others. The intent is to decrease excess harvesting capacity, increase the economic efficiency of harvesting and facilitate the conservation and management of fishery resources in each fishery in which NMFS conducts a reduction program.
Agency: Department of Commerce(DOC)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 50 CFR 600
Legal Authority: 16 USC 1861(b) to 1861(e)    5 USC 561

Legal Deadline:  None

Timetable: Action Date FR Cite NPRM  02/11/1999  64 FR 6869    Interim Final Rule  05/18/2000  65 FR 31430

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: Businesses	Federalism: No
Included in the Regulatory Plan: No
Agency Contact: Michael L. Grable Chief, Financial Services Division Department of Commerce National Oceanic and Atmospheric Administration 1315 East-West Highway, Silver Spring, MD 20910 Phone:301 713-2390 Email: michael.grable@noaa.gov