Congress 107 - HR 2376 - Pacific Coast Groundfish Fishery Preservation Act

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Cosponsors

Topics

Administrative procedure Agriculture and Food Animals Business income tax California Charitable contributions Charities Claims Collection of accounts Commerce Compensation (Law) Congress Congressional reporting requirements Department of Commerce Disaster relief Economics and Public Finance Emergency Management Executive orders Federally-guaranteed loans Fees Finance and Financial Sector Fish kills Fish processing ships Fishery management Fishing boats Flags of convenience Food relief Government lending Government Operations and Politics Government publicity Income tax Individual retirement accounts International Affairs International fishery management Labor and Employment Law Legislation Licenses Marine and coastal resources, fisheries Oregon Overfishing Pacific Ocean Public Lands and Natural Resources Regulatory impact statements Salmon Salmon fisheries Shellfish fisheries Shipbuilding subsidies Social Welfare Sustainable fisheries Tax deferral Tax exclusion Taxation Transportation and Public Works Washington State

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Summary

Pacific Coast Groundfish Fishery Preservation Act - Directs the Secretary of Commerce to: (1) initiate a pilot project under which fishermen covered by the West Coast groundfish fishery may make charitable donations of fishery bycatch; (2) report on specified actions to provide disaster relief to fishing communities affected by the commercial failure in the Pacific Coast groundfish fishery; and (3) implement an expedited capacity reduction plan for such fishery, including a buyback of fishing permits and vessels, and establishment of an industry fee system to be collected by California, Oregon, and Washington and forwarded to the Secretary.

Amends the Merchant Marine Act, 1936 to make a fund termination and withdrawal from the (nontaxable) capital construction fund a qualified withdrawal if done in exchange for the retirement of a commercial fishing permit and vessel. Amends the Internal Revenue Code respecting such funds to: (1) consider a withdrawal made for payment of an industry fee authorized by this Act a qualified (nontaxable) withdrawal; and (2) permit fund rollover into an individual retirement account (IRA).

Actions

Sep 24, 2001

Referred to National Oceanic & Atmosperic Administration (Department of Commerce) for report.
Aug 20, 2001

Referred to Maritime Administration for report.
Jul 10, 2001

Executive Comment Requested from Commerce.
Jul 10, 2001

Referred to the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
Jun 28, 2001

Referred to the Committee on Resources, and in addition to the Committees on Ways and Means, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jun 28, 2001

Introduced in House

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