Fishermen's Contingency Fund

What this funds

For FY 2027, NMFS requests a total of $349 for this fund. This fund compensates U.S. commercial fishermen for damage or loss of fishing gear, vessels, and resulting economic loss caused by obstructions related to oil or gas exploration, development, and production in any area of the Outer Continental Shelf. The Fishermen's Contingency Fund is authorized under Section 402 of Title IV of the Outer Continental Shelf Lands Act Amendments of 1978. This fund minimizes financial instability of the fishing industry caused by competing uses of the OCS and provides for timely resolution of claims by vessel owners. Fishermen who can prove that they suffered losses in income due to inability or reduced capacity to fish as a result of the damage sustained may be eligible for compensation for economic loss and property loss or damage. Compensation for economic loss is based on 50 percent of gross income lost, rather than loss of profits. The funds used to provide this compensation are derived solely from fees collected on an annual basis by the Secretary of the Interior from the holders of leases, exploration permits, easements, or rights-of-way in areas of the OCS. Disbursements can be made only to the extent authorized in appropriation acts. For carrying out the provisions of Title IV of Public Law 95-372, not to exceed $349,000, to be derived from receipts collected pursuant to that Act, to remain available until expended.

Extracted from National Oceanic and Atmospheric Administration, p. 341. Verbatim; nothing here is paraphrased.

Ask this budget line

Answers come from the figures on this page and nothing else. These dollars are parsed from Commerce's Congressional Justification and are approximate — confirm anything that matters against the cited page.