Fishing Capacity Reduction Programs

Under section 312(b) of the Magnuson-Stevens Fishery Conservation and Management Act (Magnuson-Stevens Act), the National Marine Fisheries Service (NMFS) has the authority to conduct a fishing capacity reduction program if funds are provided and it is determined that such a program is necessary to prevent or end overfishing, rebuild stocks of fish, or achieve measurable or significant improvements in the conservation and management of the fishery. Under the authority of this section, the Secretary may buy back vessels and/or fishing permits in order to obtain the maximum sustained reduction in fishing capacity at the least cost and in a minimum period of time. Declaration of a fishery resource disaster is not required to authorize such a program.

The capacity reduction program must be consistent with any State and Federal fishery management plans in place for that fishery. Funding for such programs is authorized under Section 312(c) of the Magnuson-Stevens Act and allows NMFS to obtain funding under authorization of the Saltonstall-Kennedy Act, through specific appropriations, from industry fee systems, and from public, private, or non-profit sources.

• Framework Interim Final Rule - 5/18/2000 (PDF)

BSAI Crab Buyback