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Pacific Coast Groundfish Buyback

Congress authorized (Public Law 108-7 section 501 and Public Law 107-206 section 212) a $46 million buyback program, of which $10M was appropriated and the remainder to be financed under Title XI.  In a reverse auction bidding process, this program permanently removed 91 vessels and 239 fishing permits for $45,662,471 from the Groundfish trawl fishery and associated corollary fisheries of Dungeness crab and pink shrimp off the California, Oregon and Washington coast.

Fees for repayment of the loan are authorized under section 312(d)(2)(C) of the Magnuson-Stevens Act and are to be paid on groundfish harvests using Federal trawl permits.  Fish sellers are required to pay the fee and all parties making the first ex-vessel purchase of groundfish (“fish buyers”) are required to collect the fee, account for and forward the fee revenue for the purpose of repaying the loan.  The current fee rates are:  1) Washington – Dungeness Crab – 0.16%; 2) Oregon – Dungeness Crab – 0.55%; 3) California – Pink Shrimp – 5.0%; and 4) Groundfish Trawl Fishery – 5.0%.  Sub-loans for Oregon Pink Shrimp and California Dungeness Crab were repaid in 2012 followed by Washington Pink Shrimp in 2013.

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.

Pacific Coast Groundfish Buyback Loan Fees are due by the 14th of the month after landings occurred when they are over $100; otherwise buyback fees are due by the 14th of January of the next year if they have not reached a total of $100.  Buyback fees received after these due dates are subject to a 1.5% per month late charge fee.

 

Resources for Buyers

Letters

Regulations & Notices

 

Contact: 
Liz Ryan
(301) 427-8777
Elaine Saiz
(301) 427-8752
Financial Services Division (F/MB5)
Office of Management and Budget
NMFS, NOAA
1315 East West Highway
Silver Spring, MD 20910