REFI Pacific Act

Bill: 113-s-1275
Sponsor: Sen. Cantwell, Maria [D-WA]
Introduced: 2013-07-10 in the Senate
Policy area: Public Lands and Natural Resources
Subjects: Government lending and loan guarantees
Marine and coastal resources, fisheries
Pacific Ocean
User charges and fees

Summary:
action_date: 2013-07-10
text: 
Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003.
 
Requires such loan to have a maturity that expires 45 years after the date of issuance. Permits the Secretary to extend the loan under specified conditions if there is an outstanding balance after such period. 
 
Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued.
 
Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan. 

action_date: 2014-09-10
text: 
Revitalizing the Economy of Fisheries in the Pacific Act or the REFI Pacific Act - (Sec. 3) Directs the Secretary of Commerce (upon receipt of such assurances as the Secretary considers appropriate to protect the interests of the United States) to issue a loan to refinance the existing debt obligation funding the fishing capacity reduction program for the West Coast groundfish fishery implemented under the Department of Commerce and Related Agencies Appropriations Act, 2003.
 
Requires such loan to have a maturity that expires 45 years after the date of issuance. Permits the Secretary to extend the loan under specified conditions if there is an outstanding balance after such period. 
 
Prohibits the fee with respect to such loan from exceeding 3% of the ex-vessel value of the harvest from each fishery for which the loan is issued.
 
Sets forth requirements for direct loan interest rates, subloans, and the calculation of the ex-vessel landing fee to be collected for payment of such loan. 
 
(Sec. 4) Requires the National Oceanic and Atmospheric Administration (NOAA), within 75 days after enactment of this Act, to complete the referenda of fishery participants with respect to the terms for the refinanced loan.


Legislative actions:
action_date: 2014-09-10
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 556.
action_date: 2014-09-10
text: Committee on Commerce, Science, and Transportation. Reported by Senator Rockefeller with an amendment in the nature of a substitute. With written report No. 113-251.
action_date: 2014-09-10
text: Committee on Commerce, Science, and Transportation. Reported by Senator Rockefeller with an amendment in the nature of a substitute. With written report No. 113-251.
action_date: 2014-04-09
text: Committee on Commerce, Science, and Transportation. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2013-07-10
text: Read twice and referred to the Committee on Commerce, Science, and Transportation.
action_date: 2013-07-10
text: Introduced in Senate