Fishing Capacity Reduction Program/Buyback Requests

The National Marine Fisheries Service (NMFS) manages the capacity reduction loans issued in accordance with fishing capacity reduction programs to prevent or end overfishing, rebuild stocks of fish, or achieve measurable or significant improvements in the conservation and management of the fishery. Under the authority of section 312(b) of the Magnuson-Stevens Fishery Conservation and Management Act (Magnuson-Stevens Act), the Secretary may buy back vessels and/or fishing permits in order to obtain the maximum sustained reduction in fishing capacity at the least cost and in a minimum period of time. Funding for such programs is authorized under Section 312(c) of the Magnuson-Stevens Act and allows NMFS to obtain funding under authorization of the Saltonstall-Kennedy Act, through specific appropriations, from industry fee systems, and from public, private, or non-profit sources. NMFS proposes to extend the currently approved collection.

The latest form for Fishing Capacity Reduction Program/Buyback Requests expires 2021-07-31 and can be found here.

Fishing Capacity Reduction Program Implementation Plans

Federal Enterprise Architecture: Natural Resources - Conservation, Marine and Land Management