SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fishery Conservation Transition 
Act''.

SEC. 2. TRANSITION TO SUSTAINABLE FISHERIES.

    (a) In General.--Within 180 days after the close of fishing year 
2010 (within the meaning given that term in the Magnuson-Stevens 
Fishery conservation and Management Act (16 U.S.C. 1802 et seq.), the 
Secretary of Commerce shall determine, with respect to each fishery for 
which a fishery management plan that meets the requirements of section 
303(a)(15) of that Act (16 U.S.C. 1853(a)(15)) is in effect that 
contains a complete prohibition on the retention of stocks subject to 
overfishing within the fishery for the entire fishing season, whether 
the prohibition is sufficient to prevent or end overfishing for the 
stocks, or stocks undergoing overfishing, to which it applies.
    (b) Remedial Action.--If the Secretary determines that the 
prohibition contained in such a fishery management plan is not 
sufficient to prevent or end overfishing for the stocks to which it 
applies, the Secretary may authorize retention of fish that are not 
undergoing overfishing within that fishery, notwithstanding that 
discard mortality of stocks for which retention is prohibited may be 
inconsistent with provisions on ending or preventing overfishing, if, 
within 90 days after a determination by the Secretary under subsection 
(a), the Regional Fishery Management Council with jurisdiction over the 
fishery implements--
            (1) measures to minimize bycatch and bycatch mortality to 
        the extent practicable;
            (2) an enhanced data collection requirement, such as an 
        electronic logbook data collection system, for recreational, 
        for hire, and commercial fishers;
            (3) a program of on-board observers for charter, for-hire, 
        and commercial fishers that will monitor and collect data on 
        bycatch and bycatch mortality in multispecies fisheries with 
        prohibitions on retention on one or more species in the 
        fisheries; and
            (4) in coordination with the Secretary, other measures to 
        ensure accountability of the fishery, including those that will 
        substantially contribute to addressing data gaps in stock 
        assessments.
    (c) Additional Requirements.--The Secretary shall take such action 
as may be necessary to ensure that, with respect to any stock subject 
to overfishing in a fishery to which a determination under subsection 
(b) applies--
            (1) a monitoring and research program to monitor the 
        recovery of the affected stocks of fish is implemented for the 
        fishery within 1 year after the date of enactment of this Act;
            (2) a stock assessment for the overfished species within 
        the affected stocks of fish is initiated, taking into account 
        relevant life history of the stock, within 6 months after the 
        date on which the Secretary makes such a determination; and
            (3) the Regional Fishery Management Council with 
        jurisdiction over the affected fishery submits a report to 
        Congress and the Secretary detailing a long-term plan for 
        reducing discard mortality of the affected stocks of fish to 
        which a determination under subsection (a) applies within 2 
        years after the date of enactment of this Act.
    (d) Further Action Required.--If the Secretary determines that--
            (1) the Regional Fishery Management Council with 
        jurisdiction over a fishery has complied with the requirements 
        of paragraphs (b) and (c), and
            (2) the fishery management plan's prohibition on the 
        retention of stocks subject to overfishing continues to be 
        insufficient to prevent or end overfishing for those stocks,
the Secretary shall take such action as may be necessary to end 
overfishing for the stocks to which the prohibition applies before the 
end of fishery year 2015.

SEC. 3. ECONOMIC ASSISTANCE PROGRAM.

    (a) In General.--Section 208 of the Magnuson-Stevens Fishery 
Conservation and Management Reauthorization Act of 2006 (16 U.S.C. 
1891b) is amended--
            (1) by striking ``and'' after the semicolon in subsection 
        (b)(6);
            (2) by striking ``materia.'' in subsection (b)(7) and 
        inserting ``materia; and'';
            (3) by adding at the end of subsection (b) the following:
            ``(8) the economic assistance program under subsection 
        (f).'';
            (4) by striking ``and'' after the semicolon in subsection 
        (c)(2)(A);
            (5) by striking ``section.'' in subsection (c)(2)(B) and 
        inserting ``section; and'';
            (6) by adding at the end of subsection (c)(2) the 
        following:
                    ``(C) fees collected under permit programs for a 
                fishery significantly affected by a prohibition on the 
                retention of stocks to end or prevent overfishing.''; 
                and
            (7) by adding at the end thereof the following:
    ``(f) Economic Assistance Program.--
            ``(1) In general.--The Secretary shall establish an 
        economic assistance program to assist recreational and 
        commercial fishery participants, fishing industries, and 
        fishing communities significantly affected by a prohibition on 
        the retention of stocks to end or prevent overfishing or 
        rebuild overfished stocks and use amounts in the Fund to 
        provide such assistance.
            ``(2) Criteria for assistance.--In the administration of 
        the program, the Secretary shall develop criteria for 
        prioritizing economic assistance requests, including 
        consideration of the conservation and management history of the 
        fishery, the sustainability of conservation and management 
        approaches, the magnitude of the economic impact of the 
        retention prohibition, and community and social impacts.
            ``(3) Application process.--The Secretary shall develop an 
        application process to determine eligibility for economic 
        assistance under the program and shall consult with States 
        whose recreational and commercial fishery participants, fishing 
        industries, or fishing communities have been affected by the 
        prohibition. Any person or community seeking assistance under 
        the program shall submit an application at such time, in such 
        manner, and containing such information and assurances as the 
        Secretary may require.
            ``(4) State matching funds.--The Federal share of 
        assistance provided under the program to recreational and 
        commercial fishery participants, fishing industries, or fishing 
        communities may not exceed 75 percent. Before granting 
        assistance under the program, the Secretary shall consult with 
        the State in which the recipient is located and request that 
        the State provide matching funds. The Secretary may waive, in 
        whole or in part, the matching requirement under this 
        paragraph.''.

SEC. 4. AUTHORITY TO ACT.

    (a) Clarification of Emergency Authority.--Section 305(c) of the 
Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 
1855(c)) is amended by adding at the end the following:
    ``(4) For purposes of this section, an emergency is a situation 
that results from recent, unforeseen, or recently discovered 
circumstances that present serious conservation or management problems 
in the fishery, including ecological, economic, social, or public 
health interests. An emergency may include increasing or decreasing a 
catch limit, or modifying a time or area closure or retention 
prohibition in response to new science or stock assessment information, 
but only if such action is needed to address serious conservation or 
management problems in the fishery.''.

SEC. 5. FISHERY STUDIES AND REPORTS.

    Status of Fishery Report.--Section 304(e) of the Magnuson-Stevens 
Fishery Conservation and Management Act (16 U.S.C. 1854(e)) is 
amended--
            (1) by inserting ``(A)'' before ``The Secretary'';
            (2) by redesignating subparagraphs (A) and (B) as clauses 
        (i) and (ii); and
            (3) by adding at the end the following:
    ``(B) In the review, the Secretary shall consider--
            ``(i) a stock assessment conducted pursuant to subsection 
        (c);
            ``(ii) an analysis of the local, regional, and national 
        social and economic impacts on fishing communities and 
        industries directly and indirectly related to the fishery; and
            ``(iii) fishery management measures to enhance the 
        sustainability of stocks of fish that are overfished, and an 
        evaluation of alternative management approaches that may be 
        implemented to enhance such sustainability.
    ``(C) Stock assessment updates for each stock of fish that is 
overfished or undergoing overfishing shall be conducted at 2 year 
intervals, and a full stock assessment pursuant to subsection (c) shall 
be conducted no less frequently than once every 5 years.
    ``(D) The Secretary shall include a summary of reviews conducted 
under subparagraph (A) in the report required by paragraph (1) of this 
subsection. To the extent possible, the Secretary shall include in the 
report recommendations for actions that could be taken to encourage the 
sustainable management of stocks of fish listed in the Fish Stocks 
Sustainability Index.''.
    (b) Assessment of Current Management Measures.--
            (1) In general.--The Secretary of Commerce shall conduct a 
        study, in cooperation with the National Academy of Sciences, to 
        determine if current fishery management measures for stocks in 
        a multispecies fishery yield the most productive use of marine 
        resources while effectively conserving sustainable populations 
        and a healthy marine ecosystem. The study shall include--
                    (A) the identification of the statutory and 
                regulatory impediments to achieving the maximum 
                sustainable yield from the entire fishery;
                    (B) the identification of fishery independent 
                environmental stressors on the fishery;
                    (C) the economic value derived from the yield in 
                the fishery; and
                    (D) alternative fishery management measures and 
                technologies which would result in increased economic 
                and harvest yields consistent with sound conservation.
            (2) Report.--Within 180 days after the date of enactment of 
        this Act, the Secretary shall transmit a report to the Senate 
        Committee on Commerce, Science, and Transportation and the 
        House of Representatives Committee on Natural Resources 
        containing the Secretary's findings, conclusions, and 
        recommendations.

SEC. 6. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the Secretary of 
Commerce such sums as may be necessary to carry out the provisions of 
this Act and the amendments made by this Act.
Fishery Conservation Transition Act - Directs the Secretary of Commerce, for certain fisheries for which a fishery management plan is in effect that contains a complete prohibition on the retention of stocks subject to overfishing within the fishery for the entire fishing season, to determine whether such prohibition is sufficient to prevent or end overfishing for the stocks, or stocks being overfished.

Sets forth provisions for specified remedial and other actions to be taken by the Secretary if the prohibition contained in such a plan is insufficient to prevent or end overfishing for the stocks to which it applies.

Establishes an economic assistance program to assist recreational and commercial fishery participants, fishing industries, and fishing communities significantly affected by a prohibition on the retention of stocks to end or prevent overfishing or rebuild overfished stocks. Limits the federal share of assistance provided under the program to 75% and requires the provision of state matching funds.

Provides criteria for determining the existence of an overfishing situation requiring emergency action.

Requires the consideration of specified fishery studies and management measures in the review of any fishery management plan, plan amendment, or regulations relating to the rebuilding of overfished fisheries.

Requires the Secretary to assess current management measures for stocks in multispecies fisheries.
A bill to amend the Magnuson-Stevens Fishery Conservation and Management Act to mitigate the economic impact of the transition to sustainable fisheries on fishing communities, and for other purposes.