Section 1 Short title
This Act may be cited as the “Fishing Industry Credit Enhancement Act of 2023”.
Fishing Industry Credit Enhancement Act of 2023
A BILL
To amend the Farm Credit Act of 1971 to support the commercial fishing industry.
Sec. 2 Extension of credit to businesses providing services to producers or harvesters of aquatic products
Farm credit banks—
Eligibility for credit and financial services— Section 1.9 of the Farm Credit Act of 1971 (12 U.S.C. 2017) is amended—
in paragraph (2), by striking “or” at the end;
by redesignating paragraph (3) as paragraph (4); and
by inserting after paragraph (2) the following:
“(3) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs; or”
Purposes for extensions of credit— Section 1.11(c)(1) of the Farm Credit Act of 1971 (12 U.S.C. 2019(c)(1)) is amended by inserting “and to persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products” after “needs”.
Production credit associations— Section 2.4(a) of the Farm Credit Act of 1971 (12 U.S.C. 2075(a)) is amended—
in paragraph (2), by striking “and” at the end;
in paragraph (3), by striking the period at the end and inserting “; and”; and
by adding at the end the following:
“(4) persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs.”