Fisheries Investment Regulatory Relief Act 2012
Sens. John Kerry (D-MA), Olympia J. Snowe (R-ME), John Rockefeller (D-WV), Scott Brown (R-MA), and Sheldon Whitehouse (D-RI) introduced the “Fisheries Investment and Regulatory Relief Act (FIRRA) of 2012” (S. 2814) on March 12. Companion bill in the House by Reps. Barney Frank (D-MA) and Frank Guinta (R-NH). This bill would invest in the management of America’s fisheries by providing a dedicated funding source. The legislation would redirect existing duties on imported fish and fish products to programs that will protect and increase the value of America’s ocean fish and the jobs they support.
This new legislation would re-direct existing revenues from duties on imported fish products (estimated at $124 million for FY 2013) to support critical research, monitoring, and management programs, as well as provide assistance to fishermen and fishing communities.
This bill would create a regionally-based grant program that would direct 70 percent of the money (approximately $85 million in FY 2013) per year to fund fisheries research and management programs. The councils would establish investment committees responsible for identifying funding priorities and making recommendations on which specific projects should be supported in each region.
