S. 1217 – Reading Mode

119th CONGRESS

1st Session

S. 1217

IN THE SENATE OF THE UNITED STATES

March 31, 2025

Mr. King (for himself, Ms. Murkowski, Mr. Murphy, Mr. Coons, Ms. Blunt Rochester, and Mr. Sullivan) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry

A BILL

To amend the Farm Credit Act of 1971 to support the commercial fishing industry.

Short title

This Act may be cited as the Fishing Industry Credit Enhancement Act of 2025.

Extension of credit to businesses providing services to producers or harvesters of aquatic products

(a)

Farm credit banks

(1)

Eligibility for credit and financial services

Section 1.9 of the Farm Credit Act of 1971 (12 U.S.C. 2017) is amended—

(A)

in paragraph (2), by striking or at the end;

(B)

by redesignating paragraph (3) as paragraph (4); and

(C)

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

(2)

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.

(b)

Production credit associations

Section 2.4(a) of the Farm Credit Act of 1971 (12 U.S.C. 2075(a)) is amended—

(1)

in paragraph (2), by striking and at the end;

(2)

in paragraph (3), by striking the period at the end and inserting ; and; and

(3)

by adding at the end the following:

(4)

persons furnishing to producers or harvesters of aquatic products services directly related to their operating needs.