Fisheries Finance Program

What this funds

general rules implementing Title XI (found at 50 CFR part 253, subpart B), and NOAA's sustainable fisheries policy. The overriding guideline for all FFP financings is that they cannot contribute or be construed to contribute to an increase in existing fish harvesting. FFP authority is subject to the Federal Credit Reform Act of 1990 (FCRA) (2 U.S.C. 661), which requires the estimated loan losses (FCRA cost) be appropriated in cash at the time Congress authorizes annual credit ceilings. Some types of FFP loans require no FCRA subsidy appropriations because these types of loans have historically not required additional loan subsidy. However, specific loan ceilings for each type of loan authority must be included in appropriation language or other bill language regardless of the need Subject to section 502 of the Congressional Budget Act of 1974, during fiscal year 2027, obligations of direct loans may not exceed

Extracted from National Oceanic and Atmospheric Administration, p. 353. Verbatim; nothing here is paraphrased.

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