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Southeast Alaska Purse Seine Salmon Fishery Buyback Program

Congress authorized (Consolidated Appropriations Act of 2005 Section 209 of Title II of Division B of Pub. L. 108–447 as amended) up to a $23,476,500 loan to finance a fishing capacity reduction program in the Southeast Alaska purse seine salmon fishery.  The Southeast Alaska purse seine salmon fishery is a commercial fishery in Alaska state waters and adjacent Federal waters.  It encompasses the commercial taking of salmon with purse seine gear, and participation is limited to fishermen designated by the Alaska Commercial Fisheries Entry Commission.

NMFS published proposed program regulations on May 23, 2011 (76 FR 29707), and final program regulations on October 6, 2011 (76 FR 61986), to implement the reduction program.  Subsequently, the Southeast Revitalization Association submitted a capacity reduction plan approved by NMFS on February 24, 2012.  NMFS conducted a referendum to determine the industry’s willingness to repay a $13,133,030 fishing capacity reduction loan to remove 64 permits.  NMFS received 269 timely and valid votes of which 215 approved the fees.  This exceeded the majority of permit holders (190) required for industry fee system approval.

The initial fee rate necessary to repay the loan was established at the maximum of 3% of landed value when fee collection began July 22, 2012.  NMFS determined this rate was generating more than necessary to amortize the 40-year loan thus reduced the fee rate to 1.5% effective June 1, 2013.  The interest rate is fixed at 4.57%.

Southeast Alaska purse seine salmon Buyback Loan Fees are due by the 15th day of the month after the month in which landings occurred.  Buyback fees received after that date are subject to a 1.5% per month (or portion thereof) late charge fee.


Please see the links below for more information and visit Pay.gov to submit fee collection payments.

 

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Regulations & Notices

 

Contact: 
Liz Ryan
(301) 427-8777
Michael A. Sturtevant
(301) 427-8799
Financial Services Division (F/MB5)
Office of Management and Budget
NMFS, NOAA
1315 East West Highway
Silver Spring, MD 20910