To amend the Magnuson-Stevens Fishery Conservation and Management Act to extend the authorized time period for rebuilding of certain overfished fisheries, and for other purposes.

Summary: Flexibility in Rebuilding American Fisheries Act of 2008 - Amends the Magnuson-Stevens Fishery Conservation and Management Act to require fishery management plans, amendments, or regulations for overfished fisheries to specify a time period for ending overfishing and rebuilding the fishery that is as short as practicable (currently, as short as possible). Modifies the exceptions to the requirement that such period not exceed ten years.

Requires consideration, in evaluating progress to end overfishing and rebuild overfished stocks, of factors other than commercial and recreational fishing.

Requires, when the Secretary of Commerce extends the period under specified provisions, that the maximum rebuilding time not exceed the sum of the initial ten-year period, the expected time to rebuild the stock absent any fishing mortality and under prevailing environmental conditions, and the mean generation time of the stock.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flexibility in Rebuilding American 
Fisheries Act of 2008''.

SEC. 2. EXTENSION OF TIME PERIOD FOR REBUILDING CERTAIN OVERFISHED 
              FISHERIES.

    Section 304(e) of the Magnuson-Stevens Fishery Conservation and 
Management Act (16 U.S.C. 1854(e)(4)) is amended--
            (1) in paragraph (4)(A)--
                    (A) in clause (i) by striking ``possible'' and 
                inserting ``practicable''; and
                    (B) by amending clause (ii) to read as follows:
                            ``(ii) not exceed 10 years, except in cases 
                        where--
                                    ``(I) the biology of the stock of 
                                fish, other environmental conditions, 
                                or management measures under an 
                                international agreement in which the 
                                United States participates dictate 
                                otherwise;
                                    ``(II) the Secretary determines 
                                that such 10-year period should be 
                                extended because the cause of the 
                                fishery decline is outside the 
                                jurisdiction of the Council or the 
                                rebuilding program cannot be effective 
                                only by limiting fishing activities;
                                    ``(III) the Secretary determines 
                                that such 10-year period should be 
                                extended to provide for the sustained 
                                participation of fishing communities or 
                                to minimize the economic impacts on 
                                such communities, provided that there 
                                is evidence that the stock of fish is 
                                on a positive rebuilding trend;
                                    ``(IV) the Secretary determines 
                                that such 10-year period should be 
                                extended for one or more stocks of fish 
                                of a multi-species fishery, provided 
                                that there is evidence that those 
                                stocks are on a positive rebuilding 
                                trend;
                                    ``(V) the Secretary determines that 
                                such 10-year period should be extended 
                                because of a substantial change to the 
                                biomass rebuilding target for the stock 
                                of fish concerned after the rebuilding 
                                plan has taken effect; or
                                    ``(VI) the Secretary determines 
                                that such 10-year period should be 
                                extended because the biomass rebuilding 
                                target exceeds the highest abundance of 
                                the stock of fish in the 25-year period 
                                preceding and there is evidence that 
                                the stock is on a positive rebuilding 
                                trend;''; or
            (2) in paragraph (7), in the matter preceding subparagraph 
        (A), by inserting after the first sentence the following: ``In 
        evaluating progress to end overfishing and to rebuild 
        overfished stocks of fish, the Secretary shall review factors, 
        other than commercial fishing and recreational fishing, that 
        may contribute to a stock of fish's overfished status, such as 
        commercial, residential, and industrial development of, or 
        agricultural activity in, coastal areas and their impact on the 
        marine environment, predator/prey relationships of target and 
        related species, and other environmental and ecological changes 
        to the marine conditions.''; and
            (3) by adding at the end the following:
            ``(8) If the Secretary determines that extended rebuilding 
        time is warranted under subclause (III), (IV), (V), or (VI) of 
        paragraph (4)(A)(ii), the maximum time allowed for rebuilding 
        the stock of fish concerned may not exceed the sum of the 
        following time periods:
                    ``(A) The initial 10-year rebuilding period.
                    ``(B) The expected time to rebuild the stock absent 
                any fishing mortality and under prevailing 
                environmental conditions.
                    ``(C) The mean generation time of the stock.
            ``(9) In this subsection the term `on a positive rebuilding 
        trend' means that the biomass of the stock of fish has shown a 
        substantial increase in abundance since the implementation of 
        the rebuilding plan.''.