SECTION 1. The first paragraph of section 2 of chapter 128 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by adding the following clause:-

(h) purchase any federal fishery permit issued pursuant to 50 CFR part 600 et seq. from any permit holder to the extent that such permit is transferrable under federal law.

SECTION 2. Chapter 130 of the General Laws is hereby amended by adding the following section:-

Section 107. The department of agricultural resources shall establish and implement a commercial  fishing permit bank whereby the department shall maintain any federal fishery permits it purchases pursuant to clause (h) of section 2 of chapter 128. The department of agricultural resources may resell or lease the rights of any federal fishery permit maintained in the permit bank to any existing federal fishery permit holder doing business in the commonwealth; provided, however that the department shall, upon a sale of any such permit maintained in the permit bank, provide a right of first refusal to the permit holder that originally sold such permit to the department for inclusion in the permit bank. The department of agricultural resources shall promulgate any rules and regulations necessary for the implementation of this section.