A bill to amend title VI of the Merchant Marine Act, 1936, in order to permit the establishment of capital construction funds for fishery facilities.

Summary

Amends the Merchant Marine Act, 1936, to allow any citizen of the United States who owns or leases one or more eligible fishery facilities to enter into an agreement with the Secretary of Commerce to establish a capital construction fund. Declares that such agreement shall be for the purposes of providing replacement, reconstructed, or additional fishing vessels, or replacement, reconstructed, or additional fishery facilities located in the U.S. or its possessions. Limits the use of withdrawals from such fund. Places such fund under the authority of the Secretary. Prohibits the Secretary from requiring that a minimum withdrawal be made from the fund. Defines terms, including "fishing vessel" and "fishing facility," as used in this Act.

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Documents

1 official file

• Introduced in House

  summary · EN · 21 May 1981

  Open at official source

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