Fishing Capacity Reduction Program for the Longline Catcher Processor Subsector of the Bering Sea and Aleutian Islands Non-Pollock Groundfish Fishery - Federal Register Rules and Notices
NOAA Fisheries issues this notice to inform the public that there will be an increase of the fee rate required to repay the $35,000,000 reduction loan financing the non-pollock groundfish fishing capacity reduction program. Effective January 1, 2020, NOAA Fisheries is increasing the Loan A fee rate to $0.021 per pound to ensure timely loan repayment. The fee rate for Loan B will remain unchanged at $0.001 per pound.
In 2012, NOAA Fisheries established regulations to implement a second fishing capacity reduction program (also commonly known as "buyback" and an industry fee system to repay a $2.7 million loan for a single latent permit within the Longline Catcher Processor Subsector of the Bering Sea and Aleutian Islands (BSAI) non-pollock groundfish fishery (Reduction Fishery). The purpose of this action was to permanently reduce the greatest amount of fishing capacity at the least cost and increase harvesting productivity for the permit holders remaining in the fishery. The loan for this program was added to the previous program loan of $35,700,000 authorized by the FY 2005 Appropriations Act.