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Bill113th CongressFiled Jul 10, 2013Public Lands and Natural Resources
S. 1275

REFI Pacific Act

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What it doesSummary reported to senate with amendment(s) (Sep 10, 2014)

Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - (Sec. 3) Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003.

Requires such loan to have a maturity that expires 45 years after the date of issuance. Permits the Secretary to extend the loan under specified conditions if there is an outstanding balance after such period.

Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued.

Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan.

(Sec. 4) Requires the National Oceanic and Atmospheric Administration (NOAA), within 75 days after enactment of this Act, to complete the referenda of fishery participants with respect to the terms for the refinanced loan.

What just happenedSep 10, 2014

Placed on Senate Legislative Calendar under General Orders. Calendar No. 556.

Who’s behind it

Sen. Cantwell, Maria [D-WA](D-WA)Sponsor
6 cosponsors6 D
Read on Congress.gov
6cosponsors1committees6actions2related bills4subjects
  • Reported to SenateSep 10, 2014
  • Introduced in SenateJul 10, 2013
  1. Sep 10, 2014Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 556.

  2. Sep 10, 2014Committee

    Committee on Commerce, Science, and Transportation. Reported by Senator Rockefeller with an amendment in the nature of a substitute. With written report No. 113-251.

  3. Sep 10, 2014Committee14000

    Committee on Commerce, Science, and Transportation. Reported by Senator Rockefeller with an amendment in the nature of a substitute. With written report No. 113-251.

  4. Apr 9, 2014Committee

    Committee on Commerce, Science, and Transportation. Ordered to be reported with an amendment in the nature of a substitute favorably.

  5. Jul 10, 2013IntroReferral

    Read twice and referred to the Committee on Commerce, Science, and Transportation.

  6. Jul 10, 2013IntroReferral10000

    Introduced in Senate

Reported to Senate with amendment(s)Sep 10, 20141

Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - (Sec. 3) Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003.

Requires such loan to have a maturity that expires 45 years after the date of issuance. Permits the Secretary to extend the loan under specified conditions if there is an outstanding balance after such period.

Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued.

Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan.

(Sec. 4) Requires the National Oceanic and Atmospheric Administration (NOAA), within 75 days after enactment of this Act, to complete the referenda of fishery participants with respect to the terms for the refinanced loan.

Introduced in SenateJul 10, 2013

Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003.

Requires such loan to have a maturity that expires 45 years after the date of issuance. Permits the Secretary to extend the loan under specified conditions if there is an outstanding balance after such period.

Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued.

Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan.

REFI Pacific Act — Informed