§3331 Fleet Adjustment Program

Summary

The Secretary of Commerce may give federal money to Washington State under the rules in this subchapter. The money can pay for buying commercial fishing and charter vessels, their fishing gear, and licenses, and the federal share may not exceed 75 percent of the program’s total cost. Ownership of any vessel or other personal property bought under an approved State program goes to the State when purchased, and ownership can pass to a buyer if the State later sells them.