Search Results for keywords:"Merchant Marine Act"

Found 2 results

Search Results: keywords:"Merchant Marine Act"

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  • 2024-28144 — Fishing Capacity Reduction Program for the Pacific Coast Groundfish Fishery
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    Type:Notice
    Citation:89 FR 95184
    Reading Time:about 3 minutes

    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.

  • 2025-05486 — Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Capital Construction Fund Agreement, Certificate Family of Forms and Deposit/Withdrawal Report
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    Type:Notice
    Citation:90 FR 14251
    Reading Time:about 4 minutes

    The Department of Commerce, through the National Oceanic and Atmospheric Administration (NOAA), is seeking public comments on renewing an information collection program. This program, under the Merchant Marine Act, allows commercial fishing entities to defer taxable income in a Capital Construction Fund for specific vessel-related projects. Comments are invited on the necessity and burden of this collection by May 30, 2025, as part of the review process before submitting information to the Office of Management and Budget (OMB). Respondents, including businesses and organizations, are required to submit information via specified forms to qualify and participate in the program.

    Simple Explanation

    The Department of Commerce wants people to think about and talk about a program where fishermen can save money for boats and projects without paying taxes right away, and they're asking for comments about how easy or hard it is to fill out the forms until May 30, 2025.