Commercial Fisheries Development Act

[AI summary unavailable — showing source text] Commercial Fisheries Development Act - Title I: Commercial Fisheries Development Fund - Authorizes the Secretary of Commerce to guarantee the payment of obligations for certain commercial fisheries facilities and fishing vessels. Permits the Secretary to charge a fee for any obligation guaranteed under this Act. Sets forth default procedures. Authorizes the Secretary to make long-term, low interest loans, to citizens of the United States to provide capital (1) for fisheries facilities and fishing vessels used for harvesting underutilized species, and (2) for fishing vessels and equipment used for experimental fishing. Authorizes the Secretary to make loans, including non-interest-bearing loans, to commercial fishermen to alleviate forced economic distress. Amends the Merchant Marine Act of 1936 to extend the capital construction fund to fisheries facilities. Establishes within the Treasury of the United States a Commercial Fisheries Development Fund to be available to the Secretary to carry out the purposes of this Act. States that there shall be in the National Oceanic and Atmospheric Administration an Office of Commercial Fisheries Development headed by a Director to administer t…