Bill > SB90

This bill establishes a new administrative area for the regulation of certain commercial set net entry permits in the Cook Inlet region. It creates a voluntary buy-back program for these set net entry permits, where the Alaska Commercial Fisheries Entry Commission can purchase up to 200 unencumbered permits for $260,000 each. The bill also requires the termination of certain state and municipal leases used for these set net fishing operations, and allows the Department of Fish and Game to close the affected waters to commercial fishing. The bill is conditional on the approval of the buy-back program by an election of eligible set net entry permit holders.