CSHB 188(FSH) - Regional Fisheries Trusts Summary

• Establishes up to three state-authorized regional fisheries trusts to hold and temporarily transfer commercial fishing entry permits to qualified individuals, with the goal of preventing economic distress and improving fishery access in Alaska communities.

• Regional fisheries trusts are public corporations governed by boards with members appointed by the governor from municipalities within their regions; trusts can acquire limited entry permits subject to a 2.5% cap per fishery and must comply with established acquisition and holding limitations.

• Permits held by regional fisheries trusts may only be temporarily transferred to individuals for a maximum of six years total, with the temporary transferee unable to already hold a permit for that fishery and unable to participate if commercial fishing suspension proceedings are pending.

• The Alaska Commercial Fisheries Entry Commission must approve temporary transfers from regional fisheries trusts and may revoke transfers if the temporary transferee fails to compensate the trust or becomes unqualified under the chapter.

• Department of Commerce, Community, and Economic Development shall establish initial fisheries trust regions by July 1, 2019, with fisheries trusts able to begin accepting applications on January 1, 2019; the entire Act takes effect July 1, 2019.