A bill to apply certain provisions of the Fishermen's Protective Act of 1967 to situations in which vessels of the United States or their gear are damaged by actions of foreign countries.

Permits the Secretary of the Interior, upon receipt of an application filed with him at any time after the effective date of this section by the owner of any vessel of the United States which is documented or certificated as a commercial fishing vessel, to enter into an agreement with such owner to quarantee that, if such vessel or its gear is damaged as a result of the action of a foreign vessel or if such vessel is seized by a foreign country and detained, the Secretary shall: (1) pay the owner of such vessel for actual costs incurred by the owner arising out of damage to his vessel or gear by such country; (2) pay the owner of such vessel and its crew for the market value of fish caught; and (3) pay the owner of such vessel and its crew for not to exceed 50 percent of the gross income lost as a direct result of such damage or such seizure and detention, as determined by the Secretary of the Interior.