94 STAT. 3302
PUBLIC LAW 96-561—DEC. 22, 1980 (3) Subsection (c) is amended by inserting "and resulting economic loss" immediately after: "destruction" in the matter appearing immediately before paragraph (1). (4) Subsection (d) is amended— (A) by inserting ", and resulting economic loss," immediately after "destruction" in paragraph (1); and (B) by amending paragraph (2) to read as follows: "(2) The amount of compensation awarded to any vessel owner under this section shall be— "(A) the depreciated replacement cost, or the repair cost, whichever cost is less, of the fishing vessel or the fishing gear concerned; and "(B) 25 percent of any resulting economic loss. Any amount determined pursuant to subparagraph (A) or (B) shall be reduced to the extent that evidence indicates that negligence by the vessel owner or operator contributed to the cause or the extent of the damage, loss, or destruction and shall be further reduced by the amount of compensation, if any, that the vessel owner or operator has received or will receive with respect to the damage, loss, destruction, or resulting economic loss through insurance, pursuant to any other provision of law, or otherwise.". Approved December 22, 1980.
LEGISLATIVE HISTORY: HOUSE REPORTS: No. 96-1243, pt. 1 accompanying H.R. 6959 (Comm. on Merchant Marine and Fisheries) and No. 96-1243,' pt. 2 accompanying H.R. 6959 (Comm. on Interior and Insular Affairs). SENATE REPORT No. 96-667 (Comm. on Commerce, Science, and Transportation and Comm. on Environment and Public Works). CONGRESSIONAL RECORD, Vol. 126 (1980): May 5, considered and passed Senate. Sept. 23, H.R. 6959 considered and passed House; passage vacated and S. 2163, amended, passed in lieu. Dec. 3, Senate concurred in House amendments with an amendment. Dec. 4, House concurred in Senate amendment.