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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Natural Resources
      Fisheries, Wildlife, Oceans and Insular Affairs
    IntroducedJuly 10th, 2013

Bill Details

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Title

REFI Pacific Act

Official Title

To direct the Secretary of Commerce to issue a fishing capacity reduction loan to refinance the existing loan funding the Pacific Coast groundfish fishing capacity reduction program.

Summary

Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003. Requires such loan to have a maturity that expires 45 years after the date of issuance, subject to extension if there is an outstanding balance after such period. Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued. Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan.

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