PRIA Logo™
119-hr-10342119th CongressWALLET

American Seafood Competitiveness Act of 2026

Sponsored By: Representative Magaziner, Seth [D-RI-2]

Introduced

Summary

Expand USDA and Farm Credit financing to commercial fishing and fish processing. This bill would bring wild-caught seafood, commercial fishing vessels, and fish processing facilities into existing USDA loan and grant programs so they can access capital for permits, vessels, facilities, and operating needs.

Show full summary
  • Commercial fishers and vessel owners would become eligible for Farm Ownership and Farm Operating loans. Loans for fishers would be limited to acquiring permits, buying vessels, making capital improvements, and covering vessel operating and maintenance costs.
  • Fish processors and processing facilities would be treated like farms for loan eligibility. They could get loans to acquire or improve processing facilities and to cover facility operating and maintenance costs. The Local Agriculture Market Program would add wild-caught fish and shellfish as eligible commodities and allow reduced matching funds for commercial fishing and processing participants.
  • Farm Credit Banks and Production Credit Associations would be allowed to serve businesses that provide services to aquatic producers and harvesters. The USDA would be required to integrate seafood industry participants into relevant programs within one year and coordinate outreach, technical assistance, and training with NOAA and other agencies.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

4 provisions identified: 3 benefits, 0 costs, 1 mixed.

Farm Credit loans for seafood services

If enacted, Farm Credit Banks and Production Credit Associations would be allowed to lend to businesses that provide services directly to aquatic producers and harvesters. That would make service providers to fishers and seafood harvesters newly eligible for credit and financial services from the Farm Credit System. This change would take effect upon enactment.

Local grants now include seafood

If enacted, wild-caught fish would count as an eligible product for the Farmers' Market and Local Food Promotion Program. The bill would add domestic seafood marketing to the list of eligible activities. The Secretary of Agriculture would also be able to waive or reduce the grant matching requirement for applicants engaged in commercial fishing or fish processing, lowering the cash or in-kind match those seafood grantees must provide.

USDA outreach to seafood industry

If enacted, the Secretary of Agriculture would have to ensure commercial fishing industry participants are integrated into USDA programs within one year. The Department would provide outreach, technical assistance, staff training, and coordinate with NOAA and other Federal and State agencies to implement the eligibility changes.

New USDA loans for fishers

If enacted, individuals and businesses that do commercial fishing or fish processing would be treated like farmers for USDA farm ownership and operating loans. A fishing vessel or a processing facility would count as a "farm," so fishers and processors would become eligible for those loans. The bill would also limit how those borrowers may use the loans: operating loans would be for operating and maintaining vessels or processing facilities, and ownership loans would be limited to buying permits, buying vessels, or making capital improvements. The bill would add legal definitions for commercial fishing, fish processing, and related terms.

Sponsors & CoSponsors

Sponsor

Magaziner, Seth [D-RI-2]

RI • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation