Congress authorized a $46 million buyback program, of which $10 million was appropriated and the remainder to be financed under Title XI. In a reverse auction bidding process, this program permanently removed 91 vessels and 239 fishing permits for $45,662,471 from the groundfish trawl fishery and associated corollary fisheries of Dungeness crab and pink shrimp off the coasts of California, Oregon, and Washington.
Fees for repayment of the loan are authorized under section 312(d)(2)(C) of the Magnuson-Stevens Act and are to be paid on groundfish harvests using federal trawl permits. Fish sellers are required to pay the fee and all parties making the first ex-vessel purchase of groundfish (“fish buyers”) are required to collect the fee, account for and forward the fee revenue for the purpose of repaying the loan. Effective January 1, 2019, the current fee rate for the Groundfish Trawl Fishery is 4.0%. Sub-loans for Oregon Pink Shrimp and California Dungeness Crab were repaid in 2012, followed by Washington Pink Shrimp in 2013, Oregon Dungeness Crab in 2015, California Pink Shrimp was repaid in 2016, and Washington Dungeness Crab was repaid in 2017.
Please see the links below for more information and visit Pay.gov to submit fee collection payments.
Click here for a summary of loan balances.
Pacific Coast Groundfish Buyback Loan Fees are due by the 14th of the month after landings occurred when they are over $100; otherwise buyback fees are due by the 14th of January of the next year. Buyback fees received after these due dates are subject to a 1.5% per month late fee.
Resources for Buyers:
- Pacific Coast Groundfish Revised Fee Collection Report - Expires 2021
- California Fish Buyer Information - February 2019
- Oregon Fish Buyer Information - February 2019
- Washington Fish Buyer Information - February 2019
- Washington Coastal Dungeness Crab Closeout Letter - 2/27/17
- California Pink Shrimp Loan Repayment Letter - 9/30/16
- Oregon Dungeness Crab Loan Repayment Letter - 1/29/15
- Washington Pink Shrimp Loan Repayment Letter - 12/2/13
- California Dungeness Crab Sub-Loan Refund Letter - 6/10/13
- California Dungeness Crab Loan Repayment Letter - 9/7/12
- Oregon Pink Shrimp Loan Repayment - 5/23/12
- Fee Collection Instruction Letter - 1/7/09
- Fee Collection Report Instructional Letter - 12/8/08
- Fee Rate Adjustment Letter - 8/6/07
Regulations & Notices:
Christopher P. McEntee
Financial Services Division (F/MB5)
Office of Management and Budget
1315 East West Highway
Silver Spring, MD 20910