Bill > S1217

This bill amends the Farm Credit Act of 1971 to expand credit opportunities for businesses in the commercial fishing industry. Specifically, the bill allows Farm Credit Banks and Production Credit Associations to extend credit and financial services to businesses that provide services directly related to the operating needs of aquatic product producers or harvesters. These changes mean that service providers in the fishing industry, such as equipment suppliers, maintenance services, or logistics companies that support fishing operations, will now be eligible for agricultural credit programs that were previously limited to direct producers. The bill aims to enhance financial support for the fishing industry by broadening the definition of eligible entities that can receive credit from farm credit institutions. By making these modifications, the legislation seeks to provide more financial flexibility and support for businesses that play a critical role in the commercial fishing sector, potentially helping to strengthen and sustain this important economic industry.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/1217/all-info