Commercial Fishing Vessel Liability and Safety Act of 1986

Commercial Fishing Vessel Liability and Safety Act of 1986 - Title I: Liability for Personal Injury on Fishing, Fish Tender, and Fish Processing Vessels - Amends Federal law to limit the liability of an employer for the temporary illness injury, or disability of a seaman employed on a fishing, fish tender, or fish processing vessel as long as the employer has in effect certain prescribed minimum illness or injury maintenance coverage. Requires the Secretary of Transportation, on January 1 of each year, to review the dollar figure representing the annual minimum payment per year for a seaman's illness or disability, and to make certain adjustments to such figure if necessary. Requires a seaman to bring an action to obtain such coverage within two years from the date the cause of action accrued.

Authorizes an owner or employer to limit his or her liability for non-temporary injuries to a specified amount per incident, unless gross negligence or willful misconduct is proven.

Title II: Commercial Fishing Vessel Safety - Amends Federal law concerning fishing vessels to prescribe and require the prescription of certain safety standards on all fishing, fish tender, and fish processing vessels. Defines the international equivalent of such required vessel safety standards. Authorizes an appropriate safety official to take appropriate action with respect to vessels operating in an unsafe condition or in violation of standards set forth under this Act. Authorizes the Secretary to exempt certain vessels from such standards for good cause shown. Outlines civil and criminal penalties for violation of this Act.

Directs the Secretary to establish a Commercial Fishing Industry Vessel Advisory Committee (the Committee) to advise, consult with, report to, and make recommendations to the Secretary concerning various vessel safety matters. Directs the Secretary, at least once a year, to publish a notice soliciting nominations for membership on the Committee. Directs the Secretary and the Secretary of Commerce to designate a representative to participate as an observer with the Committee. Requires the Secretary to consult with the Committee before taking specified action affecting fishing, fish tender, or fish processing vessels. Terminates such Committee on September 30, 1991. Requires the Committee, two years prior to such termination, to recommend to the Congress whether the Committee should be renewed and continue beyond the termination date.

Requires the Secretary to compile statistics concerning marine casualties in connection with fishing, fish tender, or fish processing vessels.

Title III: Fishery Management Safety - Amends the Magnuson Fishery Conservation and Management Act to require the contents of fishery management plans to include provisions relating to the safety of persons and vessels engaged in the fishery.