Fishing Vessel Financing Improvement Act of 2026

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7350 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7350 To amend title 46, United States Code, to make changes with respect to direct loans by the Department of Transportation and the Maritime Administration for financing of fishing vessels, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 4, 2026 Mr. Begich (for himself and Mr. Larsen of Washington) introduced the following bill; which was referred to the Committee on Armed Services _______________________________________________________________________ A BILL To amend title 46, United States Code, to make changes with respect to direct loans by the Department of Transportation and the Maritime Administration for financing of fishing vessels, and for other purposes. 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 Vessel Financing Improvement Act of 2026''. SEC. 2. FINANCING OF FISHING VESSELS. (a) Definitions.--Section 53701 of title 46, United States Code, is amended-- (1) by redesignating paragraphs (5) through (15) as paragraphs (6) through (16), respectively; (2) by inserting after paragraph (4) the following: ``(5) Fishing.--The term `fishing' has the meaning given such term in section 3 of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1802).''; and (3) in paragraph (14), as so redesignated, by inserting ``used'' before ``fishing vessels''. (b) Direct Loans.--Section 53702(b) of title 46, United States Code, is amended-- (1) in the subsection heading by striking ``Direct Loans for Fisheries'' and inserting ``Direct Loans''; (2) in paragraph (1) by inserting ``used'' before ``fishing vessel''; and (3) in paragraph (4) by striking ``the purpose of'' and all that follows t