Fishing Industry Credit Enhancement Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1217 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 1217

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


_______________________________________________________________________


                   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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 2. 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.''.
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