A bill to amend the Fish and Wildlife Act of 1956 to authorize the Secretary of Commerce to make loans to associations of fishing vessel owners and operators organized to provide insurance against the damage or loss of fishing vessels or the injury or death of fishing crews and for other purposes.

[AI summary unavailable — showing source text] Authorizes the Secretary of Commerce to make loans to any fishermen's association after consultation with appropriate State authorities to enable such association to carry out its insurance operations, if such association satisfies the Secretary that it has implemented, or will implement within sixty days after receipt of a loan under this Act, a comprehensive program under which vessel owners participating in such association will (1) make such vessel repairs and modifications; (2) implement such vessel operational procedures; and (3) undertake such training or retraining of vessel crews as may be necessary to meet the vessel safety standards which are established by a qualified marine surveyor or a qualified naval architect who is acceptable to both the Secretary and the association; and approved by the Secretary after consultation by him with the Secretary of the department within which the Coast Guard is operating. Provides that such loans shall not exceed an amount equal to 75 percent of the amount of the capital, surplus, and other assets of such association. Sets forth the conditions and terms relating to such loans. Establishes a Fishermen's Association Insurance Loan Fund,…