118 STAT. 2888 PUBLIC LAW 108–447—DEC. 8, 2004 (2) INITIAL AVAILABILITY OF FUNDS.—The Secretary shall make available the amounts of the capacity reduction loan authorized by subsection (b)(1) as follows: (A) Not more than $36,000,000 for the longline catcher processor subsector. (B) Not more than $6,000,000 for the AFA trawl catcher processor subsector. (C) Not more than $31,000,000 for the non AFA trawl catcher processor subsector. (D) Not more than $2,000,000 for the pot catcher proc essor subsector. (3) OTHER AVAILABILITY OF FUNDS.—After January 1, 2009, the Secretary may make available for fishing capacity reduction to one or more of the catcher processor subsectors any amounts of the capacity reduction loan authorized by subsection (b)(1) that have not been expended by that date. (d) BINDING REDUCTION CONTRACTS.— (1) REQUIREMENT FOR CONTRACTS.—The Secretary may not provide funds to a person under the fishing capacity reduction program authorized by subsection (b) if such person does not enter into a binding reduction contract between the United States and such person, the performance of which may only be subject to the approval of an appropriate capacity reduction plan under subsection (e). (2) REQUIREMENT TO REVOKE LICENSES.—The Secretary shall revoke all Federal fishery licenses, fishery permits, and area and species endorsements issued for a vessel, or any vessel named on an LLP license purchased through the fishing capacity reduction program authorized by subsection (b). (e) DEVELOPMENT, APPROVAL, AND NOTIFICATION OF CAPACITY REDUCTION PLANS.— (1) DEVELOPMENT.—Each catcher processor subsector may, after notice to the Council, submit to the Secretary a capacity reduction plan for the appropriate subsector to promote sustain able fisheries management through the removal of excess har vesting capacity from the non pollock groundfish fishery. (2) APPROVAL BY THE SECRETARY.—The Secretary is author ized to approve a capacity reduction plan submitted under paragraph (1) if such plan— (A) is consistent with the requirements of section 312(b) of the Magnuson Stevens Fishery Conservation and Management Act (16 U.S.C. 1861a(b)) except— (i) the requirement that a Council or Governor of a State request such a program set out in paragraph (1) of such subsection; and (ii) the requirements of paragraph (4) of such sub section; (B) contains provisions for a fee system that provides for full and timely repayment of the capacity reduction loan by a catcher processor subsector and that may provide for the assessment of such fees based on methods other than ex vessel value of fish harvested; (C) does not require a bidding or auction process; (D) will result in the maximum sustained reduction in fishing capacity at the least cost and in the minimum amount of time; and
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