Cost Recovery for Pacific Cod Trawl Cooperative Program
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The law announces a 3% cost recovery fee for the Pacific Cod Trawl Cooperative Program in 2025. It aims to cover the costs of managing, collecting data, and enforcing the program. This impacts cooperatives of trawl catcher vessels and processors operating in the Bering Sea and Aleutian Islands, requiring them to calculate and pay fees based on fishery value by August 31, 2025.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Introduction of a 3% cost recovery fee
- Deadlines for payment set for August 31, 2025
- Impacts the economic calculations for trawl cooperatives
Obligations
What this law requires
Each PCTC Program cooperative must submit cost recovery fee liability payment(s) to NMFS no later than August 31, 2025
Calculate cost recovery fee liability by multiplying the 3 percent NMFS published fee percentage by the annual ex-vessel value of Cooperative Quota (CQ) landings under the PCTC Program
Make cost recovery fee payments in accordance with the payment methods set forth in 50 CFR 679.135(a)(3)
Failure to pay cost recovery fee liabilities by August 31 will result in NMFS disapproval of a cooperative's application to transfer CQ or issue a CQ permit the following year until full payment is received
NMFS will not issue a CQ permit until receiving a complete application for CQ issuance and confirmation of full payment of any cost recovery fee liability