A bill to amend the Fishery Conservation and Management Act of 1976 in order to clarify the definition therein of vessels of the United States and to require the Secretary of Commerce to prepare an annual report regarding foreign investment in the U.S. fishing industry.

Amends the Fishery Conservation and Management Act of 1976 to: (1) redefine "vessel of the United States" to mean any vessel documented under the laws of the United States or registered under the laws of any State which is either owned by a United States citizen or has been continuously owned by the same person who owned it prior to January 27, 1977; (2) define "citizen of the United States" for purposes of the Act; (3) permit any foreign nation to treat as a vessel under its own flag, any vessel documented under the laws of the United States or registered under the laws of any State if more than 25 percent of the vessel is owned by a citizen or legal entity of such nation; (4) require the Secretary of Commerce to submit to Congress an annual report regarding foreign investment in the United States fishing industry, and details the content of such report; (5) require the Secretary to prescribe such regulations as may be necessary to gather information for such report; (6) require the Secretary of the Treasury to furnish the Secretary with certain information; and (7) authorize such appropriations as may be necessary for the preparation of such report.