Outer Continental Shelf Fisherman's Gear Compensation Act

Outer Continental Shelf Fisherman's Gear Compensation Act - Authorizes the Secretary of the Interior to establish a fishermen's gear compensation fund to compensate commercial fishermen damages to gear due to activities related to oil and gas exploration and production on the Outer Continental Shelf leasing areas.

Stipulates that any Outer Continental Shelf development plan approved by the Secretary and any permit issued by the Secretary for the construction of a pipeline on such shelf shall contain a condition requiring the lessee or permittee to pay into such fund.

Authorizes the Secretary of the Interior to prescribe regulations for the filing and settlement of claims under this Act, classify potential hazards to commercial fishing caused by oil and gas exploration and production, and establish regulations for the identification of all materials and equipment used on the Outer Continental Shelf prior to actual use.

Empowers the Secretary to make disbursements from the fishermen's gear compensation fund to compensate fishermen for actual and consequential damages. Prohibits payments from such fund when the damages claimed were caused by materials or equipment attributable to a financially responsible party, exceed a specified amount, or were due to the negligence of the fisherman-claimant.