Amends direct loans for fishing vessels and fishery facilities under the Department of Transportation.
Amends title 46, United States Code, to make changes with respect to direct loans by the Department of Transportation and the Maritime Administration for financing of fishing vessels and fishery facilities. Limits the principal amount of obligations for used fishing vessels to 87.5 percent of the actual cost or depreciated cost. Extends eligibility for guarantees of obligations for certain fishing vessels for two years.
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