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Fishing Industry Credit Enhancement Act of 2023
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.
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.
Read the Full Bill
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
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
12Democrat Cosponsors
8Republican Cosponsors
4Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4940
Primary Policy Focus
Public Lands and Natural ResourcesPotential Impact Areas
- Agricultural prices, subsidies, credit
- Credit and credit markets
- Marine and coastal resources, fisheries
Alternate Title(s) of Bill HR 4940
Fishing Industry Credit Enhancement Act of 2023
Fishing Industry Credit Enhancement Act of 2023
To amend the Farm Credit Act of 1971 to support the commercial fishing industry.
Comments
Sponsors and Cosponsors of HR 4940
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