Fishing Vessels loan Assistance Act

Summary

Fishing Vessals Loan Assistance Act - Authorizes the Secretary of Commerce to use funds appropriated under the Fish and Wildlife Act to compensate owners and operators whose fishing vessels or gear have been destroyed or damaged by the actions of foreign fishing vessels operating in waters superjacent to the Continental Shelf of the United States as defined in the Convention on the Continental Shelf. Sets forth conditions governing such loans, including a requirement that the owner or operator of such damaged or destroyed property assign to the Secretary any rights such owner or operator has to recover damages. Provides that amounts collected on any claim shall be deposited in the fisheries loan fund.

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1 official file

• Introduced in House

  summary · EN · 24 September 1975

  Open at official source

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