Fishing Vessel Financing Improvement Act of 2026

This bill changes the federal loan and loan guarantee program for fishing vessels under title 46 of the U.S. Code. It limits direct loans for fishing vessels to used vessels and lets the Maritime Administration guarantee loans for projects in the fishing industry or seafood related trade. For fishing vessels with a Maritime Administration guarantee, the loan amount could be up to 87.5 percent of the vessel's cost. The Administrator could not guarantee a loan if the Secretary finds it inconsistent with fisheries conservation and management law. For two years, fishing vessels longer than 79 feet that were built and documented after January 1, 2021, would be eligible for guarantees without first needing reconstruction or repair.

Full text and official record on Congress.gov

Sponsors

• Nicholas J. Begich III Republican sponsor
• 1 cosponsors