(3) DELIVERY OTHER THAN BY MAIL.—If ac-
ceptance is delivered by any other means, the Sec-
retary shall consider the date of acceptance to be the
date on which the Secretary first received the ac-
ceptance. The Secretary’s determinations regarding
the timeliness of the acceptance shall be final.
(h) COMPENSATION PAYMENT.—No later than 195
days after the date of enactment of this Act, the Secretary
shall, in accordance with this section, pay compensation
in full to each permit holder whose acceptance of the Sec-
retary’s offer was timely.
(i) FEDERAL LOAN.—Under the authority of title XI
of the Merchant Marine Act, 1936 (46 U.S.C. App. 1279f
and 1279g), the Secretary shall provide up to $20,000,000
through a direct loan obligation for any payments author-
ized under this section that are not fully paid for by funds
appropriated under subsection (j) of this section. These
payments shall be treated as payments under a fishing ca-
pacity reduction program established under section 312 of
the Magnuson-Stevens Act (16 U.S.C. 1861a). Notwith-
standing subsection (b)(4) of such section 1111, the debt
obligation under this subsection shall have a maturity of
30 years.
(j) AUTHORIZATION
OF APPROPRIATIONS.—There
are authorized to be appropriated—
(1) $100,000 for the costs (as that term is de-
fined in section 502 of the Congressional Budget
and Impoundment Control Act of 1974 (2 U.S.C.
661a)) for the $20,000,000 direct loan authorized
under this section; and
(2) $30,000,000 for the balance of the com-
pensation payments authorized under this section.
(k) BLENDED FUNDING SOURCE.—All funds appro-
priated under subsection (j) shall be available for the pay-
ment authorized under this section and shall be applied
so as to ensure that 40 percent of the cost of such pay-
ments is derived from the direct loan authorized under
this section and 60 percent of the cost of such payments
is derived from funds appropriated for payment under this
section. If any amounts appropriated remain unexpended
and unobligated after all payments are made under this
section, the remainder of such amounts shall be available
for obligation and expenditure for the research program
established under section 12.
SEC. 8. RESTRICTIONS ON VESSELS.
(a) IN GENERAL.—
(1) REVOCATION
OF
FISHING
PERMITS.—All
Federal and State commercial fishing permits and li-
censes held by an eligible permit holder accepting
compensation under section 7 shall be revoked upon
receipt by the Secretary of the letter of acceptance
under section 7(g).
(2) USE
OF
VESSEL
PROHIBITED.—A vessel
that was authorized to engage in fishing under a
permit or license that is revoked under this section
shall never again be used by any person anywhere in
the world (regardless of the national status of such
person) for commercial fishing.
(b) 
INELIGIBILITY
FOR
FISHERIES
ENDORSE-
MENT.—Section 12108(d) of title 46, United States Code,
is amended by inserting ‘‘, or a vessel whose commercial
fishing permits and licenses have been revoked under sec-
tion 8(a)(2) of the Atlantic Highly Migratory Species Con-
servation Act of 2000,’’ before ‘‘is not eligible’’.
(c) TRANSFER TO FOREIGN OWNERSHIP OR REG-
ISTRY PROHIBITED.—
(1) PROHIBITED TRANSFER.—No person may—
(A) sell, lease, charter, deliver, or in any
manner transfer, or agree to sell, lease, charter,
deliver, or in any manner transfer, to a person
who is not a citizen of the United States, any
interest in or control of a vessel that was au-
thorized to be used to engage in fishing under
a permit or license revoked under this section;
or
(B) place such a vessel under foreign reg-
istry or operate that vessel under the authority
of a foreign country.
(2) VOID EFFECT.—Any sale, lease, charter, de-
livery, or transfer of a vessel, or interest in or con-
trol of a vessel, in violation of this subsection is void.
(d) PENALTIES.—
(1) CRIMINAL
PENALTY.—Any person that
knowingly violates this section, or knowingly submits
false documentation for the landing payment under
section 7, shall be fined under title 18, United
States Code, imprisoned for not more than 5 years,
or both.
(2) FORFEITURE.—A vessel (including its fish-
ing gear, furniture, appurtenances, stores, and
cargo) may be seized by, and forfeited to, the United
States Government if—
(A)(i) the vessel is placed under foreign
registry or operated under the authority of a
foreign country in violation of this section;
(ii) a person knowingly sells, leases, char-
ters, delivers, or transfers the vessel, or an in-
terest in or control of that vessel, in violation
of this section;
(B) the vessel is used for commercial fish-
ing in violation of this section; or
(C) a permit holder submits false docu-
mentation for the landing payment under sec-
tion 7 with respect to landings made, or alleged
to have been made, using the vessel.
(3) CIVIL
PENALTY.—A person that sells,
leases, charters, delivers, or transfers a vessel (or an
interest in or control of a vessel) in violation of this
section, uses a vessel for commercial fishing in viola-
tion of this section, or submits false documentation
for the landing payment under section 7 is liable to
the United States Government for a civil penalty of
not more than $10,000 for each violation.
(e) VESSEL IDENTIFICATION SYSTEM.—The Sec-
retary of Transportation shall ensure that, for each vessel
that was authorized to be used to engage in fishing under
a permit or license that is revoked under this section, in-
formation is recorded and maintained in the vessel identi-
fication system established under chapter 125 of title 46,
United States Code, stating that—
(1) the vessel is prohibited under this Act from
engaging in commercial fishing anywhere in the
world;
(2) the vessel is not eligible for any commercial
fishing permit or license, regardless of whether the
permit or license is issued by the Federal Govern-
ment, or a State government or political subdivision
thereof; and
(3) use of the vessel in any commercial fishing
operation may result in Federal civil and criminal
penalties and forfeiture of the vessel and its cargo
and equipment.
SEC. 9. RESTRICTIONS ON COMPENSATED ELIGIBLE PER-
MIT HOLDERS.
Any eligible permit holder who has been compensated
under section 7 is prohibited from reentering the Directed
Swordfish Limited Access Fishery or Atlantic Tuna
Longline Fishery.
SEC. 10. REPAYMENT OF DIRECT LOAN.
(a) IN GENERAL.—There is established a fishery con-
servation fee system, to be administered by the Secretary,
for repayment of the direct loan made under section 7(f).
The commercial share of the loan shall be repaid with fees
received by the United States under subsection (b), and
the recreational share of the loan shall be repaid with fees
received by the United States under subsection (c). Fees
under this section shall be established without regard to