view committee members are qualified for ap-
pointment and are subject to conflict of interest 
rules. 
‘‘(C) 
SELECTION
OF
MEMBERS.—The 
Council shall select the members of each review 
committee from a list of individuals submitted 
by the Secretary. The Secretary may not sub-
mit the names of individuals to the Council for 
appointment unless the Secretary has deter-
mined that each such individual is qualified 
under the guidelines developed under with sub-
paragraph (B). 
‘‘(D) APPOINTMENTS.—The members of a 
review committee established by a Council 
under this paragraph shall be appointed by the 
Council in such a manner as to provide fair rep-
resentation to all groups that would be affected 
by a fishing quota system for a fishery, includ-
ing commercial, recreational, and subsistence 
fishing interests, fishing communities, sci-
entists, and conservation organizations and 
other public interest groups. 
‘‘(E) RESTRICTION ON VOTING.—A mem-
ber of a review committee established under 
this paragraph shall not vote on any decision
pertaining to a fishing quota system under 
which the member holds a quota share or will 
hold a quota share in the subsequent 5-year pe-
riod. 
‘‘(F) REVIEWS
AND
RECOMMENDATIONS 
REGARDING SYSTEMS.—Each review committee 
shall, every 7 years, review fishing quota sys-
tems, determine whether such systems meet the 
requirements of this Act, and evaluate whether 
each such system has improved management, 
conservation, and safety in the fishery to which 
it applies. Pursuant to such review, the com-
mittee shall recommend to the Secretary and 
the Council any changes to a fishing quota sys-
tem necessary to ensure it meets those require-
ments and standards of improvement including 
revoking, limiting, or reallocating quota shares. 
‘‘(G) REPORTS.—The Council shall trans-
mit to the Congress a report containing the re-
sults of each review under subparagraph (F) 
within 90 days after the review is completed.’’; 
(4) in paragraph (7)(A) (as so redesignated) by 
striking ‘‘individual fishing quota programs’’ and in-
serting ‘‘a fishing quota system’’;
(5) in paragraph (7)(B) by striking ‘‘individual 
fishing quota programs’’ and inserting ‘‘fishing 
quota systems’’; and 
(6) by adding at the end the following: 
‘‘(11) DEFINITIONS.—For the purposes of this 
subsection—
‘‘(A) the term ‘additional and substantial 
conservation benefits to the fishery’—
‘‘(i) except as provided in clause (ii), 
means scientifically measurable conserva-
tion benefits to the fishery at the time of 
establishment of a fishing quota system, 
that substantially—
‘‘(I) avoid bycatch and minimize 
the mortality of unavoidable bycatch; 
‘‘(II) prevent highgrading; 
‘‘(III) reduce overfishing (includ-
ing localized depletions) and rebuild 
overfished stocks; and 
‘‘(IV) protect essential fish habi-
tat; or 
‘‘(ii) if it is not possible to directly 
measure conservation benefits, means ac-
tions taken under a fishing quota system
that are considered necessary to provide 
such benefits; 
‘‘(B) the term ‘control’ means owns, leases, 
or otherwise directs fishing operations under a 
fishing quota system; 
‘‘(C) the term ‘excessive share’ means 
more than 1 percent of the total allowable catch 
in a fishery, except that a Council may increase 
such percentage—
‘‘(i) to no more that 5 percent, if the 
Council can demonstrate that such an in-
crease will not be detrimental to other indi-
vidual holders of quota shares under a 
fishing quota system; 
‘‘(ii) to no more that 15 percent, if 
there are an average of 20 or fewer partici-
pants in the fishery during the 3-year pe-
riod prior to the implementation of the 
control date for the fishing quota system 
or, if there is no control date, from the 
date of implementation of the fishing quota 
system, and the Council can demonstrate 
that such an increase will not be detri-
mental to other individual holders of quota 
shares under the system; or
‘‘(iii) to greater than 15 percent, if 
there are an average of less than 7 partici-
pants in the fishery during the 3-year pe-
riod prior to the implementation of the 
control date for the fishing quota system 
or, if there is no control date, from the 
date of implementation of the fishing quota 
system, and the Council can demonstrate 
that such an increase will not be detri-
mental to other individual holders of quota 
shares under the system; and 
‘‘(D) the term ‘fair and equitable alloca-
tion’ means initial and subsequent allocation of 
quota shares based on multiple criteria that 
provide for consideration of—
‘‘(i) conservation performance, includ-
ing the use of selective fishing practices 
that 
have 
minimal 
bycatch, 
prevent 
highgrading, and have minimal adverse im-
pacts on essential fish habitat; 
‘‘(ii) owner-operators of fishing ves-
sels; and 
‘‘(iii) long-term participation in the 
fishery.’’.
SEC. 5. ACTION BY SECRETARY. 
(a) ESTABLISHMENT
OF FEES.—Section 304 (16 
U.S.C. 1854) is amended—
(1) in subsection (c)(3) by striking ‘‘individual 
fishing quota program’’ and inserting ‘‘fishing quota 
system’’; 
(2) in subsection (d)(2)—
(A) by striking ‘‘(A)’’; 
(B) by striking ‘‘of any—’’ and all that fol-
lows through ‘‘community’’ and inserting ‘‘of 
any community’’; and 
(C) by striking subparagraph (B); 
(3) by adding at the end of subsection (d) the 
following: 
‘‘(3)(A) Notwithstanding paragraph (1), the Sec-
retary shall establish and collect from a person that holds 
or transfers a quota share issued under section 303(d)(2) 
fees established by the Secretary in accordance with this 
section and section 9701(b) of title 31, United States 
Code. 
‘‘(B) The fees required to be established and collected 
by the Secretary under this paragraph are the following: 
‘‘(i) With respect to any initial allocation under 
a limited access system established after the date of 
the enactment of the Fishing Quota Standards Act 
of 2005, an initial allocation fee that shall be col-
lected from the person to whom the quota share is 
first issued. 
‘‘(ii) An annual fee that shall be collected from 
the holder of the quota share, and that is a percent-
age of the ex-vessel value of fish authorized to be 
landed in one year under the quota share. 
‘‘(iii) A transfer fee that shall be collected from 
a person who transfers the quota share to another 
person. 
‘‘(C) In determining the amount of a fee under sub-
paragraph (B), the Secretary shall ensure that the total 
amount collected from all holders of quota shares in a fish-
ery subject to a fishing quota system is sufficient to re-
cover direct costs related to administering and imple-
menting the fishing quota system, including enforcement, 
management, and collection of ecological and socio-eco-
nomic data (including adequate observer coverage). 
‘‘(D) The Secretary, in consultation with the Coun-
cils, shall promulgate regulations prescribing the method 
of determining under this paragraph the ex-vessel value 
of fish authorized to be landed under a quota share, the 
amount of fees, and the method of collecting fees. 
‘‘(E) Fees collected under subparagraph (B)(ii) from 
holders of quota shares in a fishery shall be an offsetting 
collection and shall be available to the Secretary only for
the purposes of administering and implementing this Act 
with respect to that fishery.’’. 
(b) ACTION ON LIMITED ACCESS SYSTEMS.—Section 
304 (16 U.S.C. 1854) is amended by adding at the end 
the following: 
‘‘(i) ACTION ON LIMITED ACCESS SYSTEMS.—
‘‘(1) REQUIREMENT FOR APPROVAL OF PLAN.—
The Secretary may not approve a fishery manage-
ment plan that establishes a fishing quota system 
unless the plan complies with section 303(d). 
‘‘(2) REGULATIONS.—The Secretary shall issue 
regulations that establish requirements for estab-
lishing a fishing quota system. The regulations 
shall—
‘‘(A) specify factors that shall be consid-
ered by a Council in determining whether a 
fishery should be managed under a fishing 
quota system; 
‘‘(B) ensure that any fishing quota system 
is consistent with the requirements of section 
303(d); 
‘‘(C) require the collection of fees in ac-
cordance with subsection (d)(3) of this section; 
‘‘(D) provide for appropriate penalties for 
violations of regulations governing fishing quota
systems, including the revocation of quota 
shares for such violations; and 
‘‘(E) establish a central lien registry sys-
tem for the identification, perfection, and deter-
mination of lien priorities, and nonjudicial fore-
closure of encumbrances, on fishing quotas.’’. 
SEC. 6. MISCELLANEOUS CONFORMING AMENDMENTS. 
(a) SECTION 305.—Section 305(h)(1) (16 U.S.C. 
1855(h)(1)) is amended by striking ‘‘individual’’. 
(b) SECTION 402.—Section 402(b)(1)(D) (16 U.S.C. 
1881a(b)(1(D)) is amended by striking ‘‘individual fishing 
quota program’’ and inserting ‘‘fishing quota system’’. 
(c) SECTION 407.—Section 407 (16 U.S.C. 1883) is 
amended—
(1) in subsection (a)(1)(D) by striking ‘‘indi-
vidual fishing quota program’’ and inserting ‘‘fishing 
quota system’’; and 
(2) in subsection (c)(1) by striking ‘‘individual 
fishing quota program’’ and inserting ‘‘fishing quota 
system’’.
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