Capital Construction Fund; Interim Fishing Vessel Capital Construction Fund Procedures
other · US Department of Commerce · Published 1997-01-03 · Effective 1997-02-03 · 62 FR 330
Document
Document number
96-33386
Federal Register citation
62 FR 330
CFR reference
50 CFR 259
Type
Rule
Action
Final rule.
Category
other
Sub-agency
US Department of Commerce
Publication date
1997-01-03
Effective date
1997-02-03
Commerce docket
Docket No.961122326-6326-01
Abstract
NMFS issues this final rule to allow fishermen to use the Fishing Vessel Capital Construction Fund Program (Program) for equipping and/or modifying their fishing vessels to increase general vessel safety and/or to comply with specific requirements established under the Commercial Fishing Industry Vessel Safety Act of 1988 and/or other laws or regulations that materially increase the safety of a fishing vessel. The result is that a vessel equipment acquisition or vessel modification, which materially increases the safety of a qualified vessel, will be treated as a reconstruction and exempted from certain Program rules so that payment for it becomes a qualified withdrawal.