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United States · Bill · S

S. 2891 (95th)

Commercial Fisheries Financial Assistance Act

referredUnited States· United States Congress· EN

Introduced

12 April 1978

Last action

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Status

Referred to Senate Committee on Banking, Housing and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

2 September 2025

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Summary

Commercial Fisheries Financial Assistance Act - Authorizes the Secretary of Commerce to guarantee the payment of the interest on, and the unpaid balance of, any loan made by a bank or other lending institution for fisheries facilities or fishing vessels for underutilized fisheries. Limits such loans to 90 percent of the actual or depreciated actual cost of the vessel or facility. Stipulates that such loans may be made only to citizens or nationals of the United States. Creates a Commercial Fisheries Loan Guarantee Fund to be used by the Secretary for the purpose of carrying out this Act. Sets forth procedures to be followed by the Secretary in the event of a default by the borrower.

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Documents

1 official file

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