A bill to improve the operation of the Fisherman's Contingency Fund established to compensate commercial fishermen for damages resulting from oil and gas exploration, development, and production in areas of the Outer Continental Shelf.

Amends the Outer Continental Shelf Lands Act Amendments of 1978 to specify the revenues that shall make up the Fishermen's Contingency Fund. Limits certain revenues to a specified sum.

Lists activities for which such Fund may be used, including administrative expenses and attorney fees.

Exempts geological and geophysical permits, other than pre-lease exploratory drilling permits, from payments and assessments under this Act.

Increases the funding level of area accounts established by such Act. Revises procedures for replenishing such area accounts.

Restricts the compensation payable to commercial fishermen for specified "resulting economic losses" to 25 percent of such losses.

Revises the eligibility of certain claims for payments from such area accounts.

Establishes a presumption that damages to a fishing vessel were caused by activities related to oil and gas exploration, development, or production if a claimant establishes certain facts. Extends the time within which a report on the location of the material that caused such damage must be filed.

Revises procedures for filing claims under such Act. Refers claims that exceed $25,000 to an administrative law judge for adjudication. Declares that judicial review of such adjudication shall be sought in the circuit in which the home port of the claimant is located or within such circuit as may be mutually agreeable to the claimant and the Secretary of Commerce.

Allows claimants who have filed for compensation before the effective date of this Act to re-file under the provisions of this Act.