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American Fisheries Act (AFA) Pollock Buyback Program
The AFA of 1998 (Public Law 105-277) directed NMFS to pay $90 million to the owners of nine large catcher processors harvesting the offshore component of the Bering Sea/Aleutian Islands pollock directed fishing allowance. In accordance with the AFA, NMFS paid $15 million from the AFA appropriations and the remaining $75 million from the proceeds of a fishing capacity reduction loan under sections 1111 and 1112 of Title XI of the Merchant Marine Act, 1936.
The AFA requires the loan to be repaid by fees under section 312(d)(2)(C) of the Magnuson-Stevens Fisheries Conservation and Management Act (“Section 312”). Pursuant to the AFA and Section 312, all vessel owners harvesting the inshore component of the BSAI (“fish sellers”) are required to pay the fee and all parties making the first ex-vessel purchase of the inshore component BSAI (“fish buyers”) are required to collect the fee, account for and forward the fee revenue for the purpose of repaying the loan. The fee is six-tenths (0.6) of one cent for each pound, round-weight, of all inshore component of the BSAI that fish sellers land. Fee collection to repay the 30 year loan began on February 10, 2000. The interest rate is fixed at 7.09%.
Please see the links below for more information and visit Pay.gov to submit fee collection payments.
Click here for a summary of loan balances.
- AFA Pollock Fee Collection Settlement Sheet - 05/24/12 (PDF)
- Pollock Buyback 2015 Annual Report (PDF)
Regulations & Notices
Office of Management and Budget
1315 East West Highway
Silver Spring, MD 20910