Requires the Secretary of Commerce to establish a national cooperative research and management program to be administered by the National Marine Fisheries Service, based upon recommendations by the Regional Fishery Management Councils.
Requires the Secretary to create guidelines so that participants in this program are not penalized for loss of catch history or unexpended days-at-sea as part of a limited entry system.
Authorizes specified funds for cooperative comparative trawl research between the National Marine Fisheries Service and fishing industry participants for the Northeast multispecies groundfish fishery.
Authorizes a Council or the Secretary to extend beyond ten years the time period for the rebuilding of an overfished fishery to accommodate a new rebuilding target if the target is changed during the rebuilding period. Repeals the current exception to the ten year rebuilding deadline in cases where the biology of the stock of fish, other environmental conditions, or management measures under an international agreement in which the United States participates dictate a longer rebuilding period.