SEC. 3. REGIONAL FISHERIES INVESTMENT GRANT PRO-
GRAM. 
(a) REGIONAL FISHERIES INVESTMENT GRANT PRO-
GRAM AND FISHERY INVESTMENT PLANS.—Section 2 of 
the Act of August 11, 1939 (commonly known as the 
‘‘Saltonstall-Kennedy Act’’) (15 U.S.C. 713c–3), is 
amended by amending subsection (c) to read as follows: 
‘‘(c) STRENGTHENING REGIONAL FISHERIES MAN-
AGEMENT.— 
‘‘(1) FISHERY INVESTMENT COMMITTEES.— 
‘‘(A) 
ESTABLISHMENT.—Each 
Council 
shall establish and maintain, under the author-
ity of section 302(g) of the Magnuson-Stevens 
Fishery Conservation and Management Act (16 
U.S.C. 1852(g)), a fishery investment com-
mittee. Each fishery investment committee shall 
be comprised of not more than 13 individuals. 
‘‘(B) AUTHORITY.—Each fishery invest-
ment committee shall— 
‘‘(i) develop a regional fishery invest-
ment plan under subsection (c)(2); 
‘‘(ii) review grant applications and 
projects to implement its regional fishery 
investment plan; and 
‘‘(iii) make recommendations, based 
on its findings, to the Council on grant ap-
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plications and projects to implement its re-
gional fishery investment plan. 
‘‘(C) MEMBERSHIP.— 
‘‘(i) QUALIFICATIONS.—Each member 
of a fishery investment committee shall be 
an individual who, by reason of the individ-
ual’s occupational experience or other expe-
rience, scientific expertise, or training, is 
knowledgeable of the conservation and 
management of, or the commercial or rec-
reational catch of, the fishery resources of 
the geographical area concerned. 
‘‘(ii) NOMINATIONS.—Each member 
of a fishery investment committee— 
‘‘(I) shall be nominated and 
elected by the applicable Council dur-
ing a public meeting of the Council; 
‘‘(II) shall serve for a 3-year 
term; and 
‘‘(III) may be re-elected for an 
additional 3-year consecutive term. 
‘‘(iii) CONFLICTS
OF
INTEREST.—A 
member of a fishery investment committee 
shall recuse himself or herself from consid-
ering any grant application that the mem-
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ber has a financial interest that would re-
quire disclosure under section 302(j)(2) of 
the Magnuson-Stevens Fishery Conserva-
tion and Management Act (16 U.S.C. 
1852(j)(2)). 
‘‘(D) COMPOSITION.—Each fishery invest-
ment committee shall be multi-disciplinary, re-
flect the geographic balance of the Council, and 
include at least 1 representative of— 
‘‘(i) the commercial fishing commu-
nity; 
‘‘(ii) the private recreational angling 
community; 
‘‘(iii) the for-profit charter fishing 
community; 
‘‘(iv) the public interest in marine 
conservation who— 
‘‘(I) does not derive an annual 
income from commercial or rec-
reational fishing; and 
‘‘(II) is not employed by any per-
son who derives an annual income 
from commercial or recreational fish-
ing; 
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‘‘(v) each State government in the re-
gion; 
‘‘(vi) relevant interstate commissions; 
‘‘(vii) 
federally 
recognized 
tribes, 
where applicable; and 
‘‘(viii) research institutions. 
‘‘(2) 
REGIONAL
FISHERY
INVESTMENT 
PLANS.—Each fishery investment committee shall 
develop a regional fishery investment plan that iden-
tifies critical research, conservation, and manage-
ment needs and corresponding actions to facilitate 
rebuilding and maintaining healthy fish populations 
and sustainable fisheries over a 5-year period. Each 
plan shall— 
‘‘(A) be consistent with the current 5-year 
research priority plans developed under section 
302(h)(7) of the Magnuson-Stevens Fishery 
Conservation and Management Act (16 U.S.C. 
1852(h)(7)); 
‘‘(B) include areas of investment that are 
critical for rebuilding and maintaining healthy 
United States fish populations and promoting 
sustainable fisheries, including— 
‘‘(i) stock surveys, stock assessments 
and analysis, and cooperative fishery re-
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search, in conjunction with the National 
Oceanic and Atmospheric Administration, 
involving fishery participants, academic in-
stitutions, and other interested parties; 
‘‘(ii) efforts to improve the collection 
and accuracy of fishery catch data, includ-
ing— 
‘‘(I) expanding the use of, and 
research and development on, catch 
monitoring and reporting programs 
and technology, both at-sea and shore-
side, including the use of electronic 
monitoring devices and satellite track-
ing systems; and 
‘‘(II) improving data collection 
for recreational fisheries, including 
improvements to the Marine Rec-
reational Fishery Statistics Survey in 
accordance with section 401(g)(3) of 
the Magnuson-Stevens Fishery Con-
servation and Management Act (16 
U.S.C. 1881(g)(3)); 
‘‘(iii) analyzing the social and eco-
nomic impacts of fishery management deci-
sions; 
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‘‘(iv) providing financial assistance to, 
and investment in, fishermen and fishing 
communities through— 
‘‘(I) fishing capacity reduction, 
including vessel, permit, and gear 
buybacks; and 
‘‘(II) investment in permit banks 
or trusts and other entities, including 
community fishing associations and 
projects designed to help sustain fish-
ery dependent communities and small- 
scale fisheries; 
‘‘(v) development of methods or tech-
nologies to improve the quality and value 
of fish landed; 
‘‘(vi) research and development of 
conservation engineering technologies and 
methods in both commercial and rec-
reational fisheries; and 
‘‘(vii) habitat restoration and protec-
tion; 
‘‘(C) be revised by the regional fishery in-
vestment committee and approved by the Coun-
cil at least once every 5 years; 
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‘‘(D) be submitted to the Secretary for re-
view to ensure the plan is consistent with the 
requirements of the Magnuson-Stevens Fishery 
Conservation and Management Act (16 U.S.C. 
1801 et seq.), and this section; 
‘‘(E) be published in the Federal Register 
and made available for public comment; and 
‘‘(F) become effective not later than 60 
days after the date of receipt unless the Sec-
retary makes a negative consistency finding. 
‘‘(3) NEGATIVE CONSISTENCY FINDING.—If the 
Secretary makes a negative consistency finding 
under paragraph (2)(F), each portion of the plan 
that is the subject of the negative consistency find-
ing shall not be effective until it is made consistent 
by the regional fishery investment committee and 
the Council. 
‘‘(4) REGIONAL FISHERY INVESTMENT GRANT 
PROGRAM.—Not later than 30 days after the date of 
enactment of the Fisheries Investment and Regu-
latory Relief Act of 2015, the Secretary shall estab-
lish an annual competitive grant program to provide 
funds for projects, activities, and research that ad-
vance the regional priorities that are included in the 
regional fishery investment plans. 
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‘‘(A) ELIGIBLE RECIPIENTS.—State, Fed-
eral, regional, or private entities or persons 
shall be eligible for funding with preference 
given to public-private partnerships. 
‘‘(B) AWARDS.—The Secretary may only 
award a grant for a project, activity, or re-
search that— 
‘‘(i) implements regional fishery in-
vestment plans; and 
‘‘(ii) has been recommended for fund-
ing by the respective regional fishery in-
vestment committee and approved by the 
Council.’’. 
(b) NATIONAL FISHERIES INVESTMENT PROGRAM.— 
Section 2(d) of the Act of August 11, 1939 (commonly 
known as the ‘‘Saltonstall-Kennedy Act’’) (15 U.S.C. 
713c–3(d)), is amended— 
(1) in paragraph (1), by striking ‘‘research and 
development addressed to such aspects of United 
States fisheries (including, but not limited to, har-
vesting, processing, marketing, and associated infra-
structures) if not adequately covered by projects as-
sisted under subsection (c), as the Secretary deems 
appropriate’’ and inserting ‘‘fisheries research and 
investment that supports rebuilding and maintaining 
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healthy United States fish populations and promotes 
sustainable fisheries. The program shall address 
fisheries needs and problems described under sub-
section (e)(1)(B).’’; and 
(2) in paragraph (2)— 
(A) by striking ‘‘, after consultation with 
appropriate representatives of the fishing indus-
try,’’; 
(B) by striking ‘‘Merchant Marine and 
Fisheries’’ and inserting ‘‘Natural Resources’’; 
(C) in subparagraph (A), by striking ‘‘de-
velopment goals and funding priorities under 
paragraph (1)’’ and inserting ‘‘investment pri-
orities’’; 
(D) in subparagraph (B), by striking ‘‘all 
pending projects assisted under subsection (c)’’ 
and all that follows and inserting ‘‘the projects 
funded by the Secretary under this subsection; 
and’’; and 
(E) in subparagraph (C), by striking ‘‘each 
project assisted’’ and all that follows and insert-
ing ‘‘how well the project met the fisheries 
needs described in subsection (e)(1).’’. 
(c) DIVISION OF RESOURCES.—Section 2(e) of the 
Act of August 11, 1939 (commonly known as the 
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‘‘Saltonstall-Kennedy Act’’) (15 U.S.C. 713c–3(e)), is 
amended— 
(1) by striking ‘‘moneys’’ each place it appears 
and inserting ‘‘monies’’; 
(2) by striking ‘‘purpose of promoting’’ and in-
serting ‘‘purposes of investing in’’; 
(3) by inserting ‘‘or diverted’’ following ‘‘shall 
be transferred’’; and 
(4) by striking subparagraph (A) and all the 
follows, and inserting the following: 
‘‘(A) The Secretary shall allocate 70 per-
cent of these funds available at the beginning of 
each fiscal year to the 8 Council regions and 
the Secretary in accordance with the following 
formula pursuant to subsection (c): 
‘‘(i) One-half allocated equally among 
the Council regions. 
‘‘(ii) One-half allocated proportionally 
among the Council regions based on the 
combined economic impact of commercial 
landings and recreational fishing in each 
region. 
‘‘(B) Twenty percent of these funds shall 
be available to the Secretary under subsection 
(d) for projects addressing fisheries needs and 
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problems, as identified by the Secretary, as fol-
lows: 
‘‘(i) Up to one-fifth shall be allocated 
to, and apportioned as the Secretary deems 
appropriate among, the Atlantic States 
Marine Fisheries Commission, the Gulf 
States Marine Fisheries Commission, and 
the Pacific States Marine Fisheries Com-
mission. 
‘‘(ii) Up to one-fifth shall be allocated 
to seafood promotion and sustainable cer-
tification efforts. 
‘‘(iii) Up to one-fifth shall be allocated 
to improve fisheries’ management through 
research, monitoring or evaluation, and 
modification of regulations and procedures. 
‘‘(iv) Up to one-fifth shall be allocated 
to fisheries’ disasters, and shoreside infra-
structure and access needs. 
‘‘(v) Up to one-fifth shall be allocated 
to other special needs, including manage-
ment of highly migratory species and inter-
national fisheries. 
‘‘(C) Any amounts remaining after the an-
nual fiscal year allocations made pursuant to 
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subparagraph (B) shall remain available to the 
Secretary without fiscal year limitation for fu-
ture such allocations. 
‘‘(2) LIMITATION.—Not more than 10 percent 
of these funds may be used to offset receipts for the 
National Oceanic and Atmospheric Administration’s 
Operations, Research, and Facilities account. 
‘‘(3) ANNUAL
NOTIFICATION.—The Secretary 
shall notify annually each Council of funds available 
for grants in its region. 
‘‘(4) ADMINISTRATIVE COSTS.—Prior to the al-
location of funds under paragraph (1), the Sec-
retary— 
‘‘(A) may reserve up to 3 percent of the 
funds available in a fiscal year for the adminis-
tration of the grant program; and 
‘‘(B) shall distribute 3 percent of the funds 
available in a fiscal year equally among each of 
the 8 Councils for the development and imple-
mentation of fishery investment plans and 
grant review. 
‘‘(5) MAINTENANCE
OF
EFFORT.—Except as 
provided in paragraph (2), the Secretary may not re-
duce or eliminate funding for any research, survey, 
monitoring, or assessment activities necessary to 
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meet the conservation and management require-
ments of the Magnuson-Stevens Fishery Conserva-
tion and Management Act (16 U.S.C. 1801 et seq.) 
as a result of funding provided under this section.’’. 
SEC. 4. FOCUSING ASSETS FOR IMPROVED FISHERIES OUT-
COMES. 
Section 2(b) of the Act of August 11, 1939 (com-
monly known as the ‘‘Saltonstall-Kennedy Act’’) (15 
U.S.C. 713c–3(b)), is amended— 
(1) by striking ‘‘(1)’’; 
(2) by striking ‘‘and ending on June 30, 
1957,’’; 
(3) by striking ‘‘moneys’’ the first place it ap-
pears and inserting ‘‘monies’’; and 
(4) by striking ‘‘shall be maintained in a sepa-
rate fund only for’’ and all that follows and inserting 
‘‘and shall only be used for the purposes described 
under subsection (c).’’. 
SEC. 5. REGULATION AND PROCEDURE STREAMLINING. 
(a) IN GENERAL.—For the 2 fiscal years following 
the date of enactment of this Act, the Secretary of Com-
merce shall use funds available under section 2(e)(2) of 
the Act of August 11, 1939 (commonly known as the 
‘‘Saltonstall-Kennedy Act’’) (15 U.S.C. 713c–3), to con-
duct a review of the regulations and procedures used to 
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implement title III of the Magnuson-Stevens Fishery Con-
servation and Management Act (90 Stat. 346). 
(b) REVIEW REQUIREMENTS.—The review under 
subsection (a) shall— 
(1) identify redundant and inefficient regula-
tions and procedures; 
(2) make recommendations for streamlining 
such regulations and procedures, including rec-
ommendations to eliminate unnecessary paperwork, 
reduce bureaucratic restrictions, and speed the inclu-
sion of new information into management decisions; 
and 
(3) ensure that any recommended modifications 
to regulations or procedures are consistent with the 
Magnuson-Stevens Fishery Conservation and Man-
agement Act (16 U.S.C. 1801 et seq.), and any 
other applicable law. 
SEC. 6. PROMULGATION OF REGULATIONS. 
Not later than 90 days after the date of enactment 
of this Act, the Secretary shall promulgate regulations to 
implement the requirements of this Act. 
Æ 
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