118 STAT. 1077 PUBLIC LAW 108–293—AUG. 9, 2004 SEC. 708. LOANS FOR FISHERMEN AND AQUACULTURE PRODUCERS IMPACTED BY OIL SPILLS. (a) INTEREST; PARTIAL PAYMENT OF CLAIMS.—Section 1013 of the Oil Pollution Act of 1990 (33 U.S.C. 2713) is amended by adding at the end the following: ‘‘(f) LOAN PROGRAM.— ‘‘(1) IN GENERAL.—The President shall establish a loan program under the Fund to provide interim assistance to fisher men and aquaculture producer claimants during the claims procedure. ‘‘(2) ELIGIBILITY FOR LOAN.—A loan may be made under paragraph (1) only to a fisherman or aquaculture producer that— ‘‘(A) has incurred damages for which claims are author ized under section 1002; ‘‘(B) has made a claim pursuant to this section that is pending; and ‘‘(C) has not received an interim payment under section 1005(a) for the amount of the claim, or part thereof, that is pending. ‘‘(3) TERMS AND CONDITIONS OF LOANS.—A loan awarded under paragraph (1)— ‘‘(A) shall have flexible terms, as determined by the President; ‘‘(B) shall be for a period ending on the later of— ‘‘(i) the date that is 5 years after the date on which the loan is made; or ‘‘(ii) the date on which the fisherman or aqua culture producer receives payment for the claim to which the loan relates under the procedure established by subsections (a) through (e) of this section; and ‘‘(C) shall be at a low interest rate, as determined by the President.’’. (b) USES OF THE FUND.—Section 1012(a) of the Oil Pollution Act of 1990 (33 U.S.C. 2712(a)) is amended— (1) by striking ‘‘Act.’’ in paragraph (5)(C) and inserting ‘‘Act; and’’; and (2) by adding at the end the following: ‘‘(6) the making of loans pursuant to the program estab lished under section 1013(f).’’. (c) STUDY.—Not later than 270 days after the date of enactment of this Act, the Secretary of Commerce, in consultation with the Administrator of the Environmental Protection Agency, shall submit to the Congress a study that contains— (1) an assessment of the effectiveness of the claims proce dures and emergency response programs under the Oil Pollu tion Act of 1990 (33 U.S.C. 2701 et seq.) concerning claims filed by, and emergency responses carried out to protect the interests of, fishermen and aquaculture producers; and (2) any legislative or other recommendations to improve the procedures and programs referred to in paragraph (1). Deadline. President.
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