118th CONGRESS 1st Session |
To amend the Farm Credit Act of 1971 to support the commercial fishing industry.
May 30, 2023
Mr. King (for himself and Ms. Murkowski) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
To amend the Farm Credit Act of 1971 to support the commercial fishing industry.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Fishing Industry Credit Enhancement Act of 2023”.
SEC. 2. Extension of credit to businesses providing services to producers or harvesters of aquatic products.
(1) ELIGIBILITY FOR CREDIT AND FINANCIAL SERVICES.—Section 1.9 of the Farm Credit Act of 1971 (12 U.S.C. 2017) is amended—
(A) in paragraph (2), by striking “or” at the end;
(B) by redesignating paragraph (3) as paragraph (4); and
(C) by inserting after paragraph (2) the following:
“(3) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs; or”.
(2) PURPOSES FOR EXTENSIONS OF CREDIT.—Section 1.11(c)(1) of the Farm Credit Act of 1971 (12 U.S.C. 2019(c)(1)) is amended by inserting “and to persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products” after “needs”.
(b) Production credit associations.—Section 2.4(a) of the Farm Credit Act of 1971 (12 U.S.C. 2075(a)) is amended—
(1) in paragraph (2), by striking “and” at the end;
(2) in paragraph (3), by striking the period at the end and inserting “; and”; and
(3) by adding at the end the following:
“(4) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs.”.