The National Marine Fisheries Service (NMFS) has announced a decrease in the fee rate for a loan financing the reduction of fishing capacity in the Bering Sea and Aleutian Islands non-pollock groundfish fishery. Starting January 1, 2025, the fee for Loan A will reduce from $0.020 to $0.016 per pound, while Loan B will remain at $0.001 per pound. This rate adjustment ensures that the loans are repaid on time based on current fish catch projections and financial requirements. Fee payments at the new rate are due by February 15, 2025.
Simple Explanation
The people who take care of fishy business decided to lower the money fishers have to pay for a special loan when they catch certain types of fish in the big ocean near Alaska, making it easier for them to pay back what they owe. Starting next year, fishers will pay a little less when they catch these fish, but the price stays the same for other types of loans.