Under current law, the National Oceanic and Atmospheric Administration (NOAA) may provide financial assistance to commercial fisheries that experience economic hardship because of natural or manmade disasters. S. 2346 would explicitly define terms that are used to determine if a fishery is eligible for assistance. The bill also would require NOAA to adhere to a faster application review process and to fulfill additional reporting requirements. Finally, S. 2346 would require the Government Accountability Office to report to the Congress on efforts by the Regional Fishery Management Councils, the Atlantic States Marine Fisheries Commission, and the National Marine Fisheries Service to prepare and adapt to climate change.
Using information from NOAA, CBO expects that implementing S. 2346 would not substantially change the way the program is administered under current law. However, to review applications more quickly, CBO estimates that NOAA would need three additional employees each year at an average cost of $160,000 per employee. In total, CBO expects that implementing the bill’s requirements would cost $3 million over the 2020-2025 period; any spending would be subject to the availability of appropriated funds.
