December 5, 2018 — SEAFOOD NEWS — NOAA announced that a second buyout would take place in the Southeast Alaska salmon purse seine fishery.
In 2011, Congress approved loans of up to $23.5 million for a buyout program, and existing permit holders voted to support a loan of $13.1 million to buyback 64 licenses.
In 2018, the Southeast Revitalization Association submitted a request to NOAA to use the remainder of the funds, $10.4 million, to fund another buyout round.
NOAA will hold a referendum among the 315 existing permit holders, who will have to gain majority approval to take on the additional loan. If the plan is approved, NOAA would retire an additional 36 licenses.
Those remaining in the fishery agree to repay the loan through a landings tax, administered by NOAA.
The voting period is scheduled to begin January 15, 2019, and end 30 days later on February 14th.
The Southeast Alaska purse seine fishery harvests primarily pink salmon and some chum salmon.
This story was originally published on SeafoodNews.com, a subscription site. It is reprinted with permission.