To establish within the National Marine Fisheries Service a pelagic longline highly migratory species bycatch and mortality reduction research program, and for other purposes.

Creates within the National Marine Fisheries Service (NMFS) a pelagic longline highly migratory species bycatch and mortality reduction research program, to be developed by a design team established by the Secretary of Commerce. Sets forth that the program should aim to determine the impact of existing time and area closures designed to reduce bycatch of longline vessels. Authorizes the NMFS to grant permits for vessels with NMFS-delegated observers to fish in closed areas of the Atlantic Ocean in furtherance of the research program. Amends the Magnuson-Stevens Fishery Conservation and Management Act to close the lower mid-Atlantic Conservation Zone and the upper mid-Atlantic Conservation Zone to pelagic longline fishing between July 15 and October 1 each year. Defines the Conservation Zones. Authorizes appropriations through FY 2007.