HB 366 - Commercial Fishing Entry Permits Summary

• Establishes regional community permit banks as public corporations within the Department of Commerce, Community, and Economic Development to acquire and lease commercial fishing entry permits to qualified residents within designated regions.

• Permits regional community permit banks to hold a maximum of 4 percent of entry permits issued for any fishery in their region (or 2 permits if 50 or fewer permits exist for that fishery), subject to department oversight.

• Allows permit banks to lease entry permits to state residents for maximum 6-year terms through competitive bidding, with lease terms considering economic hardship, alternative income sources, and historical dependence on specific fisheries.

• Requires at least two-thirds of municipalities within a region to petition for a permit bank's establishment, which the department must approve if it serves purposes including preventing fisherman economic distress and improving resident access to state fisheries.

• Effective date: January 1, 2017; makes corresponding amendments throughout Alaska law to recognize permit lessees as equivalent to permit holders for licensing, voting, and taxation purposes.