Fishing Industry Credit Enhancement Act of 2023

Bill: 118-s-1756
Sponsor: full_name: Sen. King, Angus S., Jr. [I-ME]
Introduced: 2023-05-30
Policy area: Public Lands and Natural Resources
Subjects: Agricultural prices, subsidies, credit

Credit and credit markets

Marine and coastal resources, fisheries
Latest action: action_date: 2023-05-30
text: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summaries:

tv_txt: II 118th CONGRESS 1st Session S. 1756 IN THE SENATE OF THE UNITED STATES May 30, 2023 Mr. King (for himself and Ms. Murkowski ) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To amend the Farm Credit Act of 1971 to support the commercial fishing industry.

1. Short title This Act may be cited as the Fishing Industry Credit Enhancement Act of 2023 . 2. Extension of credit to businesses providing services to producers or harvesters of aquatic products (a) Farm credit banks (1) Eligibility for credit and financial services Section 1.9 of the Farm Credit Act of 1971 ( 12 U.S.C. 2017 ) is amended— (A) in paragraph (2), by striking or at the end; (B) by redesignating paragraph (3) as paragraph (4); and (C) by inserting after paragraph (2) the following: (3) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs; or . (2) Purposes for extensions of credit Section 1.11(c)(1) of the Farm Credit Act of 1971 ( 12 U.S.C. 2019(c)(1) ) is amended by inserting and to persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products after needs . (b) Production credit associations Section 2.4(a) of the Farm Credit Act of 1971 ( 12 U.S.C. 2075(a) ) is amended— (1) in paragraph (2), by striking and at the end; (2) in paragraph (3), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following: (4) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs. .