Fishing Industry Credit Enhancement Act of 2023

Hozzl · 2024-02-05T11:45:06Z

Explore the details of House Bill 4940 Fishing Industry Credit Enhancement Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Public Lands and Natural Resources. Stay informed on legislative developments.

2/5/2024, 11:45 AM

Summary of Bill HR 4940

Bill 118 hr 4940, also known as the Fishing Industry Credit Enhancement Act of 2023, aims to provide financial assistance to the fishing industry in the United States. The bill proposes to establish a program that would offer credit enhancements to fishing businesses, allowing them to access loans and other financial resources more easily.

The main goal of the bill is to support and strengthen the fishing industry, which plays a crucial role in the economy and provides jobs to many Americans. By providing credit enhancements, the bill seeks to help fishing businesses overcome financial challenges and invest in their operations, ultimately leading to increased productivity and profitability.

Additionally, the bill includes provisions to ensure that the program is administered efficiently and effectively, with oversight from relevant government agencies. It also outlines eligibility criteria for fishing businesses to qualify for credit enhancements, such as demonstrating financial need and complying with environmental regulations. Overall, the Fishing Industry Credit Enhancement Act of 2023 aims to support the fishing industry and promote economic growth in the United States by providing much-needed financial assistance to fishing businesses.

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Current Status of Bill HR 4940

Bill HR 4940 is currently in the status of Bill Introduced since July 26, 2023. Bill HR 4940 was introduced during Congress 118 and was introduced to the House on July 26, 2023. Bill HR 4940's most recent activity was Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. as of August 28, 2023

Bipartisan Support of Bill HR 4940

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4940

Primary Policy Focus

Public Lands and Natural Resources

Potential Impact Areas

Agricultural prices, subsidies, creditCredit and credit marketsMarine and coastal resources, fisheries

Alternate Title(s) of Bill HR 4940

Fishing Industry Credit Enhancement Act of 2023Fishing Industry Credit Enhancement Act of 2023To amend the Farm Credit Act of 1971 to support the commercial fishing industry.

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