The National Marine Fisheries Service (NMFS) announced a change in the fee rate for the Pacific Coast Groundfish fishery to help repay a loan related to their fishing capacity reduction program. Starting January 1, 2025, the fee rate will be lowered from 3.5% to 2.25% for all groundfish landings. This adjustment is necessary to make sure the loan is paid off within the planned 30-year period. Payments for these fees will be due by February 14, 2025.
Simple Explanation
The government wants to help fishers pay back a big loan they took to catch fish more responsibly, so they're making it cheaper for them by lowering the fee they pay each time they bring fish to shore. This means fishers will have more money left to pay other bills, starting next year.