Commercial Fisheries Improvement Fund Act

[AI summary unavailable — showing source text] Commercial Fisheries Improvement Fund Act - Authorizes the Secretary of Commerce to make long-term, low interest, incentive loans for investment in fisheries shoreside facilities for underutilized fisheries and fishing vessels for underutilized fisheries. Sets forth the terms for such loans. Requires the Secretary, before approving a loan for the purchase of a new or used vessel, to determine that the applicant's comtemplated operation of such vessel in a fishery will not cause economic hardship or injury to efficient vessels already operating in that fishery. Directs that loans pursuant to this Act shall be made only to citizens or nationals of the United States. Provides that no corporation, partnership, or association organized under the laws of American Samoa shall be deemed a national of the United States unless 75 percent of the interest therein is owned by nationals or citizens of the United States. Establishes in the U.S. Treasury a Commercial Fisheries Improvement Fund which shall be used by the Secretary as a fund from which to make loans under this Act. Authorizes the appropriation of $250,000,000 to provide initial capital for all loans under this Act. Repeals provision…