Individual Fishing Quota Cost Recovery Program Effective March 15, 2000

March 14, 2000 - 4:30 p.m.

Notice of a fishery management action.

A final rule implementing the Individual Fishing Quota (IFQ) Cost Recovery Program becomes effective on March 15, 2000, at the beginning of the 2000 IFQ fishing season, according to Steven Pennoyer, Administrator, Alaska Region, NMFS. The rule will be published in the Federal Register on March 20, 2000.

The IFQ Cost Recovery Program described in this rule will collect fees and submission forms from IFQ permit holders. Documentation for determining standard prices will be required from IFQ registered buyers. At the start of each IFQ fishing season, the fee percentage will be established at 3 percent of the ex-vessel value of IFQ landings made by permit holders. Later that same calendar year, the fee percentage may be adjusted lower by the Regional Administrator to collect fees that recover direct IFQ program costs incurred in the most recently completed fiscal year.

The rule requires IFQ permit holders to be responsible for collecting and submitting the fee liability to NMFS. IFQ permit holders are encouraged to set aside the amount of the fees throughout the fishing year in order to facilitate a lump sum payment by January 31 of the following calendar year.

The IFQ Cost Recovery Program is required by the Magnuson-Stevens Fishery Conservation and Management Act (at section 304(d)(2)(A)) which requires the Secretary to "collect a fee to recover the actual costs directly related to the management and enforcement of any IFQ program."

This information bulletin provides notice of a regulatory change. Do not rely on it to guide you in complying with the regulatory change.

Last updated by Alaska Regional Office on February 11, 2019