Regulatory Impact Review for a Proposed Regulatory Amendment to the Crab Rationalization Program to Implement the Magnuson-Stevens Fishery Conservation and Management Reauthorization Act of 2006 and the Coast Guard and Maritime Transportation Act of 2006
December 01, 2007
This document is an economic analysis of the proposed rule, addressing the requirements of Presidential Executive Order 12866 (E.O. 12866), which requires a cost and benefit analysis of Federal regulatory actions.
This action amends the regulations implementing the Crab Rationalization Program to comply with the Magnuson-Stevens Fishery Conservation and Management Reauthorization Act of 2006 and the Coast Guard and Maritime Transportation Act of 2006. This document addresses the requirements of the Presidential Executive Order 12866.
Section 122(a) of the MSRA requires that the Secretary of Commerce authorize an eligible entity and its commonly owned affiliates to combine catcher vessel owner quota shares and processor quota shares and exchange these shares for newly created converted catcher/processor owner quota shares. Section 417 of the Coast Guard Act mandates the Secretary of Commerce to issue processor quota share for the Bristol Bay red king crab and the Bering Sea snow crab fisheries to Blue Dutch, LLC, under specific conditions.