A bill to provide compensation to U.S. commercial fishing vessel owners for damages incurred by them as a result of an action of a vessel operated by a foreign government or a citizen of a foreign government.

Authorizes the Secretary of Commerce to enter into agreements under the Fisherman's Protective Act of 1967 with owners of United States commercial fishing vessels for purposes of reimbursing such owners for all actual costs resulting from any damage to, or destruction of, their vessels or equipment as a result of actions of vessels operated by a foreign government or the citizens of a foreign government. Authorizes the Secretary to provide reasonable reimbursement for losses suffered by such vessel owners because of lost or reduced fishing hauls directly resulting from the damage.

Authorizes the appropriation of $5,000,000 for reimbursement of claims under this Act. Provides that the provisions of this Act shall apply with respect to damages or destruction of United States vessels occurring on or before January 1, 1971.