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The National Marine Fisheries Service (NMFS) proposes regulations to modernize the wreckfish individual transferable quota (ITQ) program. The South Atlantic Fishery Management Council approved the amendment for review by the Secretary of Commerce at their June 2024 meeting. Actions in Amendment 48 would establish an electronic reporting system, trip and landing notification, and cost recovery for the ITQ program. In addition, Amendment 48 would revise sector allocations, commercial vessel permit requirements, the fishing year, participation and eligibility requirements for the ITQ program, and monitoring requirements including pre-landing notification and landing site and offloading time requirements. The purpose of this amendment is to modernize the wreckfish ITQ program to provide more flexibility for fishers, increase profitability in the wreckfish ITQ program, revise management measures to improve program monitoring and enforcement and data collection and management, and implement a cost recovery program as mandated by the Magnuson-Stevens Fishery Conservation and Management Act.