Fisheries Investment and Regulatory Relief Act of 2015

Fisheries Investment and Regulatory Relief Act of 2015

This bill amends the Saltonstall-Kennedy Act to revise the program under which the Department of Commerce provides financial assistance for fisheries research and development projects. Each Regional Fishery Management Council must establish a fishery investment committee to: (1) develop a regional fishery investment plan identifying research, conservation, management needs, and actions to rebuild and maintain healthy fish populations and sustainable fisheries over a five-year period; and (2) make recommendations to the council on grant applications and projects to implement those plans.

The plans must be revised and approved by the relevant council at least once every five years.

The grant program for fisheries research and development projects is replaced with a grant program to advance regional priorities included in those plans.

Commerce must carry out a national program of fisheries research and investment that supports rebuilding and maintaining healthy U.S. fish populations and promotes sustainable fisheries rather than a fisheries research and development program.

National fisheries investment program funds must be used for investing in U.S. fisheries rather than promoting the fisheries. Specified percentages of funding are allocated to the regional councils and marine fisheries commissions. The Department of Agriculture must transfer a certain amount of funds generated from duties collected on imported fish products for use only to strengthen regional fisheries management through the committees, plans, and grants.

Commerce must review the regulations and procedures used to implement title III of the Magnuson-Stevens Fishery Conservation and Management Act and make recommendations for streamlining them.