The National Marine Fisheries Service (NMFS) is making a correction to the 2024 Individual Fishing Quota (IFQ) Cost Recovery Fee Notice. Originally, the document stated that the percentage of management costs to fishery value was 5.2 percent, and the fishery value had declined by 43 percent. The correct figures should be 3.4 percent for management costs and a 13 percent decline. Despite this correction, the effective fee percentage for 2024 remains 3.0 percent due to statutory limitations.
Simple Explanation
The fishery helpers found a mistake in their money notes and fixed it. They thought the fish were worth less and cost more to manage, but it turned out they were a little off. Don't worry—the fishers still pay the same low fee because there's a special rule that keeps it from going higher.