NMFS Announces Decreased Fees for Loan Repayments
The National Marine Fisheries Service has announced a decrease in repayment fees for reduction loan financing for the non-pollock groundfish fishing capacity reduction program, effective Jan. 1.
In a statement published in the Federal Register on Dec. 2, NMFS said it is lowering the Loan A fee rate to $0.016 per pound to ensure timely repayment of the loan, but that the fee rate for Loan B would remain unchanged at $0.001 per pound.
The federal agency explained that the decreased fee rate is due to a recalculation based on the required amortization target and projected non-pollock groundfish total allowable catch (TAC) for 2025, as well as a temporary adjustment related to the 2024 Season B.
The first due date for fee payments with the decreased rate is set for Feb. 15, 2025.
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