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46 U.S.C. § 53735 — Fisheries financing and capacity reduction

Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53735 — Fisheries financing and capacity reduction

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Source location: Title 46, Chapter 537, § 53735; chapter-537-loans-and-guarantees.md

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**(a) Definition.—** In this section, the term “program” means a fishing capacity reduction program established under section 312 of the Magnuson-Stevens Fishery Conservation and Management Act ([16 U.S.C. 1861a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1861a&num=0&edition=prelim)). **(b) Guarantee Authority.—** The Secretary may guarantee the repayment of debt obligations issued by entities under this section. Debt obligations to be guaranteed may be issued by any entity that has been approved by the Secretary and has agreed with the Secretary to conditions the Secretary considers necessary for this section to achieve the objective of the program and to protect the interest of the United States. **(c) Requirements of Obligations.—** A debt obligation guaranteed under this section shall— (1) be treated in the same manner and to the same extent as other obligations guaranteed under this chapter, except with respect to provisions of this chapter that by their nature cannot be applied to obligations guaranteed under this section; (2) have the fishing fees established under the program paid into a separate subaccount of the fishing capacity reduction fund established under this section; (3) not exceed $100,000,000 in an unpaid principal amount outstanding at any one time for a program; (4) have such maturity (not to exceed 20 years), take such form, and contain such conditions as the Secretary determines necessary for the program to which they relate; (5) have as the exclusive source of repayment (subject to the second sentence of subsection (d)(2)) and as the exclusive payment security, the fishing fees established under the program; and (6) at the discretion of the Secretary be issued in the public market or sold to the Federal Financing Bank. **(d) Fishing Capacity Reduction Fund.—** (1) **In general.—** — There is a separate account in the Treasury, known as the Fishing Capacity Reduction Fund. Within the Fund, at least one subaccount shall be established for each program into which shall be paid all fishing fees established under the program and other amounts authorized for the program. (2) **Availability of amounts.—** — Amounts in the Fund shall be available, without appropriation or fiscal year limitation, to the Secretary to pay the cost of the program, including payments to financial institutions to pay debt obligations incurred by entities under this section. Funds available for this purpose from other amounts available for the program may also be used to pay those debt obligations. (3) **Investment.—** — Amounts in the Fund that are not currently needed for the purpose of this section shall be kept on deposit or invested in obligations of the United States Government. **(e) Regulations.—** The Secretary shall prescribe regulations the Secretary considers necessary to carry out this section.

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1861a — Transition to sustainable fisheries

**(a) Fishery resource disaster relief** (1) **Definitions** — In this subsection: (A) *Allowable cause* — The term “allowable cause” means a natural cause, discrete anthropogenic cause, or undetermined cause, including a cause that occurred not more than 5 years prior to the date of a request for a fishery resource disaster determination that affected such applicable fishery. (B) *Anthropogenic cause* — The term “anthropogenic cause” means an anthropogenic event, such as an oil spill or spillway opening— (i) that could not have been addressed or prevented by fishery management measures; and (ii) that is otherwise beyond the control of fishery managers to mitigate through conservation and management measures, including regulatory restrictions imposed as a result of judicial action or to protect human health or marine animals, plants, or habitats. (C) *Fishery resource disaster* — The term “fishery resource disaster” means a disaster that is determined by the Secretary in accordance with this subsection and— (i) is an unexpected large decrease in fish stock biomass or other change that results in significant loss of access to the fishery resource, which may include loss of fishing vessels and gear for a substantial period of time and results in significant revenue loss or negative subsistence impact due to an allowable cause; and (ii) does not include— (I) reasonably predictable, foreseeable, and recurrent fishery cyclical variations in species distribution or stock abundance; or (II) reductions in fishing opportunities resulting from conservation and management measures taken pursuant to this chapter. (D) *Indian Tribe* — The term “Indian Tribe” has the meaning given such term in [section 5130 of title 25](https://uscode.ho

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 101 — Agency

In this title, the term “agency” means a department, agency, or instrumentality of the United States Government.

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1851 — National standards for fishery conservation and management

**(a) In general** Any fishery management plan prepared, and any regulation promulgated to implement any such plan, pursuant to this subchapter shall be consistent with the following national standards for fishery conservation and management: (1) Conservation and management measures shall prevent overfishing while achieving, on a continuing basis, the optimum yield from each fishery for the United States fishing industry. (2) Conservation and management measures shall be based upon the best scientific information available. (3) To the extent practicable, an individual stock of fish shall be managed as a unit throughout its range, and interrelated stocks of fish shall be managed as a unit or in close coordination. (4) Conservation and management measures shall not discriminate between residents of different States. If it becomes necessary to allocate or assign fishing privileges among various United States fishermen, such allocation shall be (A) fair and equitable to all such fishermen; (B) reasonably calculated to promote conservation; and (C) carried out in such manner that no particular individual, corporation, or other entity acquires an excessive share of such privileges. (5) Conservation and management measures shall, where practicable, consider efficiency in the utilization of fishery resources; except that no such measure shall have economic allocation as its sole purpose. (6) Conservation and management measures shall take into account and allow for variations among, and contingencies in, fisheries, fishery resources, and catches. (7) Conservation and management measures shall, where practicable, minimize costs and avoid unnecessary duplication. (8) Conservation and management measures shall, consistent with the conservation requirements of this chapter

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1861a — Transition to sustainable fisheries

Page 2107 TITLE 16—CONSERVATION § 1861a EFFECTIVE DATE Section effective Mar. 1, 1977, see section 312 of Pub. L. 94–265, formerly set out as a note under section 1857 of this title. TRANSFER OF FUNCTIONS For transfer of authorities, functions, personnel, and assets of the Coast Guard, including the authorities and functions of the Secretary of Transportation relat- ing thereto, to the Department of Homeland Security, and for treatment of related references, see sections 468(b), 551(d), 552(d), and 557 of Title 6, Domestic Secu- rity, and the Department of Homeland Security Reor- ganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6. FISHERIES ENFORCEMENT ASSET FORFEITURE FUND AND SANCTUARIES ENFORCEMENT ASSET FORFEITURE FUND Pub. L. 112–55, div. B, title I, §§ 110, 111, Nov. 18, 2011, 125 Stat. 602, provided that: ‘‘SEC. 110. There is established in the Treasury a non- interest bearing fund to be known as the ‘Fisheries En- forcement Asset Forfeiture Fund’, which shall consist of all sums received as fines, penalties, and forfeitures of property for violations of any provisions of 16 U.S.C. chapter 38 or of any other marine resource law enforced by the Secretary of Commerce, including the Lacey Act Amendments of 1981 (16 U.S.C. 3371 et seq.) and with the exception of collections pursuant to 16 U.S.C. 1437, which are currently deposited in the Operations, Re- search, and Facilities account: Provided, That all unob- ligated balances that have been collected pursuant to 16 U.S.C. 1861 or any other marine resource law en- forced by the Secretary of Commerce with the excep- tion of 16 U.S.C. 1437 shall be transferred from the Oper- ations, Research, and Facilities account into the Fish- eries Enforcement As

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53735 — Fisheries financing and capacity reduc-

Page 461 TITLE 46—SHIPPING § 53901 2006—Pub. L. 109–163, § 3507(a)(1)(E), which directed the amendment of section 1274a of the former Appendix to this title from which this section was derived, was repealed by Pub. L. 110–181, § 3522(b). See 2008 Amend- ment notes and Historical and Revision notes above. § 53735. Fisheries financing and capacity reduc- tion (a) DEFINITION.—In this section, the term ‘‘pro- gram’’ means a fishing capacity reduction pro- gram established under section 312 of the Mag- nuson-Stevens Fishery Conservation and Man- agement Act (16 U.S.C. 1861a). (b) GUARANTEE AUTHORITY.—The Secretary may guarantee the repayment of debt obliga- tions issued by entities under this section. Debt obligations to be guaranteed may be issued by any entity that has been approved by the Sec- retary and has agreed with the Secretary to con- ditions the Secretary considers necessary for this section to achieve the objective of the pro- gram and to protect the interest of the United States. (c) REQUIREMENTS OF OBLIGATIONS.—A debt ob- ligation guaranteed under this section shall— (1) be treated in the same manner and to the same extent as other obligations guaranteed under this chapter, except with respect to pro- visions of this chapter that by their nature cannot be applied to obligations guaranteed under this section; (2) have the fishing fees established under the program paid into a separate subaccount of the fishing capacity reduction fund estab- lished under this section; (3) not exceed $100,000,000 in an unpaid prin- cipal amount outstanding at any one time for a program; (4) have such maturity (not to exceed 20 years), take such form, and contain such con- ditions as the Secretary determines necessary for the program to which they relate; (

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