SECTION 1. Chapter 130 of the general laws is hereby amended by adding the following section:-
Section 37B. Lobstering Closure Mitigation Fund
(a) There shall be established and set up on the books of the Commonwealth, subject to appropriation, a fund to be known as the Lobstering Closure Mitigation Fund to be administered by the department of unemployment assistance.
(b) The purpose of the Fund shall be to provide financial assistance to lobstermen to mitigate the financial impacts of fishing area closures due to protection of endangered marine species. For the purposes of this act, the term “lobsterman” shall mean a holder of a commercial fisherman permit (lobster) as so appearing in section 38 of this chapter that is deemed to be active and transferable by the director, and the term “trap” shall mean a lobster trap or pot used to catch lobsters that is owned by and licensed under and a lobsterman. Any lobsterman who is domiciled in Massachusetts shall be eligible for weekly payments equal to one dollar per trap per week. Eligibility for said payments shall be available through February 1 and shall terminate on July 30 annually.
(c) There shall be credited to the Fund all amounts that are, by law, transferred or authorized to be transferred thereto or directed to be deposited therein, and all amounts received as gifts, grants, or contributions for the purposes of the Fund. Amounts credited to the Fund shall not be subject to further appropriation and any money remaining in the Fund at the end of a fiscal year shall not revert to the General Fund.
(d) The director of the department shall report annually to the house and senate committees on ways and means and the joint committee on agriculture on income received into the fund and sources of that income, any expenditure from the fund and their purposes, and fund balances.
(e) The department shall promulgate regulations as necessary to implement the provisions of this section, including, but not limited to, regulations pertaining to payment application and disbursement procedures.
SECTION 2. This act shall take effect immediately upon its passage.
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