An Act to amend the Act of June 12, 1960, for the correction of inequities in the construction of fishing vessels, and for other purposes
PL 88-498 (S.1006), enacted 08/30/1964

614 
PUBLIC LAW 88-498-AUG. 30, 1964 
[78 STAT. 
August 30, 1964 
[S. 1006] 
Public Law 80-498 
AN ACT 
To amend the Act of June 12, 1960, for the correction of iriequities in the con-
struction of fishing vessels, and for other purposes. 
United States 
Fishing Fleet 
Improvement Actj 
amendment. 
46 use 1401-
1413. 
Construction 
subsidies. 
Transfers to 
other fisheries. 
Expiration date. 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That the Act pf 
June 12,1960, as amended, may be cited as the "United States Fishing 
Fleet Improvement Act". 
SEC. 2. The Act of June 12, 1960 (74 Stat. 212), is amended as 
follows: 
(1) Strike out the first section and insert in lieu thereof the 
following: 
"That in order to correct inequities in the construction of fishing ves-
sels of the United States, the Secretary of the Interior is authorized 
to pay in accordance with this Act a subsidy for the construction of 
such vessels in the shipyards of the United States."; 
(2) in section 2 delete the word "and" at the end of subsection 
(6) ; add a new subsection (7) as follows: 
"(7) the vessel will be of advance design, which will enable 
it to operate in expanded areas, and be equipped with newly 
developed gear, and will not operate in a fishery, if such operation 
would cause economic hardship to efficient vessel operators already 
operating in that fishery, and", and renumber the present sub-
section (7) as subsection (8); 
(3) amend section 3 by inserting "after notice and hearing," 
following the words "of his discretion,"; 
(4) delete section 4; 
(5) in section 5, delete the phrase "33% per centum" and sub-
stitute "50 per cent"; 
(6) amend section 9 to read: 
"SEC. 9. The Secretary of the Interior, in the exercise of his dis-
cretion, after notice and hearing, may approve the transfer of a vessel 
constructed with the aid of a construction subsidy, whose operations 
have become uneconomical or less economical because of an actual 
decline in the particular fishery for which it was designed, to another 
fishery w^here he determines that such transfer would not cause eco-
nomic hardship or injury to efficient vessel operators already operating 
in that fishery. If any fishing vessel constructed with the aid of a 
construction subsidy in accordance with the provisions of this Act, 
as amended, is operated during its useful life, as determined by the 
Secretary, contrary to the provisions of this Act or any regulations 
issued thereunder, the owner of such vessel shall repay to the Secre-
tary, in accordance with such terms and conditions as the Secretary 
shall prescribe an amount not to exceed the total depreciated construc-
tion subsidy paid by the Secretary pursuant to this Act and this shall 
constitute a maritime lien against such vessel. The obligations under 
this section shall run with the title to the vessel."; 
(7) in section 12, delete "$2,500,000" and substitute "$10,000,-
000"; and 
(8) amend section 13 to read: 
"SEC. 13. No application for a subsidy for the construction of a 
fishing vessel may be accepted by the Secretary after June 30, 1969." 
Approved August 30, 1964.