Buyback fee to decrease on January 1st

The trawler Ms. Opt

From Seafood News: The Pacific Coast Groundfish fee rate will decrease as of January 1, 2018. The reduction comes from the National Marine Fisheries Service (NMFS) and National Oceanic and Atmospheric Administration (NOAA), who published the notice of the fee rate adjustment in the Federal Register on Tuesday.

The notice states that the current rate fee of 5% for the groundfish fishery is “projected to collect more than the annual amortization amount needed for 2018.” Because of the projection, NFMS decided to reduce the fee rate to 4.5% for all landings beginning on January 1, 2018.

According to the notice, $28,428,718.88 of $35,662,471 remains in the groundfish sub-loan.