Sec. 311. Vessel replacement

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Chapter 537 of title 46, United States Code, is amended— in section 53701— by redesignating paragraphs

(8)through

(14)as paragraphs

(9)through (15), respectively; and by inserting after paragraph

(7)the following: The term historical uses includes— refurbishing, repairing, rebuilding, or replacing equipment on a fishing vessel, without materially increasing harvesting capacity; purchasing a used fishing vessel; purchasing, constructing, expanding, or reconditioning a fishery facility; refinancing existing debt; reducing fishing capacity; and making upgrades to a fishing vessel, including upgrades in technology, gear, or equipment, that improve— collection and reporting of fishery-dependent data; bycatch reduction or avoidance; gear selectivity; adverse impacts caused by fishing gear; or safety. ; and in section 53702(b), by adding at the end the following: Of the direct loan obligations issued by the Secretary under this chapter, the Secretary shall make a minimum of $59,000,000 available each fiscal year for historic uses. In addition to the other eligible purposes and uses of direct loan obligations provided for in this chapter, the Secretary is authorized to issue direct loan obligations for the purpose of— financing the construction or reconstruction of a fishing vessel in a fishery managed under a limited access system; or financing the purchase of harvesting rights in a fishery that is federally managed under a limited access system. . Section 302(b)(2) of the Fisheries Financing Act (title III of Public Law 104–297 ; 46 U.S.C. 53706 note) is amended— in the second sentence— by striking or in and inserting , in ; and by inserting before the period the following: , in fisheries that are under the jurisdiction of the North Pacific Fishery Management Council and managed under a fishery management plan issued under the Magnuson-Stevens Fishery Conservation and Management Act ( ; and 16 U.S.C. 1801 et seq. ), or in the Pacific whiting fishery that is under the jurisdiction of the Pacific Fishery Management Council and managed under a fishery management plan issued under that Act by adding at the end the following: Any fishing vessel operated in fisheries under the jurisdiction of the North Pacific Fishery Management Council and managed under a fishery management plan issued under the Magnuson-Stevens Fishery Conservation and Management Act ( 16 U.S.C. 1801 et seq. ), or in the Pacific whiting fishery under the jurisdiction of the Pacific Fishery Management Council and managed under a fishery management plan issued under that Act, and that is replaced by a vessel that is constructed or rebuilt with a loan or loan guarantee provided by the Federal Government may not be used to harvest fish in any fishery under the jurisdiction of any Regional Fishery Management Council, other than a fishery under the jurisdiction of the North Pacific Fishery Management Council or the Pacific Fishery Management Council. .

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Pub. L. 104-297
46 USC 53706
16 USC 1801

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Sec. 311

Vessel replacement

Pub. L.Pub. L. 104-297

Cite46 USC 53706

Cite16 USC 1801

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