National Aquaculture Organic Act

Summary

National Aquaculture Organic Act - Directs the Secretary of Commerce to establish a National Aquaculture Development Plan. Requires that such plan (1) identify each aquatic species which can be cultured on a commercial basis (priority aquatic species), and (2) contain a program of aquaculture development for such priority aquatic species. Directs the Secretary to review annually each aquatic species not identified as a priority species and the program established for each priority species. Directs the Secretary to (1) establish and maintain an aquaculture information center, (2) maintain an inventory of public and private aquaculture being carried out in the United States, (3) arrange for the mutual exchange of information relating to aquaculture with foreign nations, (4) submit an annual report to Congress on the implementation of the provisions of this Act, (5) coordinate with the Environmental Protection Agency to investigate the use of aquacultural waste water in carrying out the purposes of this Act, and (6) prescribe regulations necessary to carry out this Act. Establishes the Interagency Committee on Aquaculture comprised of the heads of various Federal agencies to insure that there is a continuing exchange of information relating to the aquacultural programs and projects of the various agencies and to review on a continuing basis the relevant programs and projects of all Federal agencies. Authorizes the Secretary of Commerce, the Secretary of the Interior, and the Secretary of Agriculture to carry out any function under this Act through grants or contracts. Limits the amount of any grant made available under this Act to one-half of the estimated cost of the project for which the grant was made. Authorizes the Secretary of Commerce to guarantee obligations issued for the financing of any aquaculture facility within the United States. Stipulates that the aggregate unpaid principal amount of all such guaranteed obligations shall not exceed $100,000,000. Authorizes the Secretary to collect a fee for guaranteed obligations not to exceed one-half of one percent per annum of the outstanding principal balance of the obligation. Sets forth the allowable interest rate, maturity date, and default procedures relating to such loans. Authorizes the Secretary to issue notes or obligations to the Secretary of the Treasury if the monies in the loan fund are insufficient to pay such a loan in the event of default. Establishes within the Treasury a Federal Aquaculture Assistance Fund for the purpose of guaranteeing loans under this Act. Authorizes appropriations to the Secretaries of Commerce, the Interior, and Agriculture to carry out the various provisions of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 18 March 1977

  Open at official source

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