A bill to provide financial and technical assistance to encourage the use of commercial fishing methods, in certain Great Lakes waters, that are consistent with sound fishery conservation and management practices, and for other purposes.

[AI summary unavailable — showing source text] Authorizes the Secretary of the Interior to extend financial assistance to eligible fishermen to enable them to make one or more of the following acquisitions: (1) vessels for use in commercial fishing within Michigan State waters; (2) gear for use in such fishing; and (3) facilities within the State of Michigan for the processing of fish harvested through commercial fishing within State waters. Specifies that such assistance shall consist of a grant equal in amount to not more than one-half of the cost of the acquisition involved and a loan in an amount less than or equal to the balance of the cost of such acquisition. Subjects each grant and loan to such terms and conditions as may be necessary or appropriate to protect the interest of the United States. Requires the Secretary to deposit all payments of principal and interest on such loans into the Commercial Fishing Conversion Fund established by this Act. Directs the Secretary to make available to eligible fishermen opportunities for such training and other technical assistance as may be appropriate to enable them to convert to commercial fishing within Michigan State waters utilizing harvesting methods other than the use of gi…