Amendment #33 to H4138

Federal Fisheries Loan Offset Program

Ms. Ferrante of Gloucester moves to amend the bill by adding the following new item: 0000-0000 For the purpose of conducting a fishing capacity reduction program; provided, that, of the funds provided to the secretary of administration and finance, $1,000,000 shall be made available for deposit into the appropriate fund administered by the National Marine Fisheries Service as required by the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.) to offset the cost of a loan issued pursuant to sections 1111 and 1112 of title XI of the Merchant Marine Act of 1936 (46 U.S.C. App. 1279f and 1279g) for conducting a fishing capacity reduction program for the northeast multispecies fishery. Obligation of such funds are subject to the provisions of the specific federal legislative authority to issue the loan under sections 1111 and 1112 of title XI of the Merchant Marine Act of 1936 (46 U.S.C. App. 1279f and 1279g), the approval by referendum of the program and fee system pursuant to section 312(d) of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1801 et seq.) and the specific indemnification from litigation of the Commonwealth of Massachusetts in the capacity reduction program