New Jersey A840 revises the individual transferable quota system for the menhaden purse seine fishery.

New Jersey A840 amends the law to revise the individual transferable quota system for the menhaden purse seine fishery. The bill changes the basis for calculating ITQs to a qualified vessel's rounded percentage share of the average of its menhaden landings from 2011 through 2018, extending the period from five to eight years. It also mandates that notices regarding the ITQ system be made available on the department's website and sent electronically to all relevant licensees. The bill specifies that the menhaden season can be reopened if closed prematurely, with at least two days' notice.

New Jersey A840 revises the individual transferable quota system for the menhaden purse seine fishery.

New Jersey A840 amends the law to revise the individual transferable quota system for the menhaden purse seine fishery. The bill changes the basis for calculating ITQs to a qualified vessel's rounded percentage share of the average of its menhaden landings from 2011 through 2018, extending the period from five to eight years. It also mandates that notices regarding the ITQ system be made available on the department's website and sent electronically to all relevant licensees. The bill specifies that the menhaden season can be reopened if closed prematurely, with at least two days' notice.