Bill · S. 1217· Senate(119-S-1217)
Fishing Industry Credit Enhancement Act of 2025
- Introduced
- 3/31/2025
- Last activity
- 3/31/2025 — Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Sponsored by
- Angus King
- Cosponsors
- - 0 - 4
- Introduced
- In Committee
What this bill would do
This bill, known as the "Fishing Industry Credit Enhancement Act of 2025," aims to amend the Farm Credit Act of 1971. The primary goal is to provide more support for the commercial fishing industry. It does this by expanding the types of people eligible for credit and financial services through Farm Credit Banks and Production Credit Associations. Specifically, it targets those who provide services directly related to the operating needs of producers or harvesters of aquatic products.
Yes· 3 of 7
Would business owners be better off under this?+5
The bill provides significant financial support and credit accessibility for businesses servicing the fishing industry.
Does this make it easier to run a small business?+5
The bill specifically assists businesses providing services to the fishing industry by expanding their access to credit.
Would farmers be better off under this?+4
Expanding credit access to the aquatic products sector aligns with the support provided to traditional agricultural producers.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Expanded Credit Eligibility: The bill changes the eligibility rules for Farm Credit Banks to include persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products (Section 2(a)(1)). This could provide more financial options for those supporting the fishing industry.
-
Increased Support for Service Providers: By amending the purposes for extensions of credit, the bill allows for credit to be extended to persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products (Section 2(a)(2)). This provides a way for service-oriented businesses in the aquatic product industry to access financial services.
-
Access via Production Credit Associations: The bill amends the eligibility for Production Credit Associations to include persons furnishing services directly related to the operating needs of producers or harvesters of aquatic products (Section 2(b)(3)). This provides an additional avenue for financial support within the industry's service network.
Potential Negative Impacts for People
- No negative impacts are explicitly mentioned in the text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For Farmers+4Good For Rural Residents+3
- Economy And Finance
- Improves Small Business Support+5Improves Economic Growth+3Increases Job Creation+3
- Environment Energy And Infrastructure
- Improves Rural Development+3
- 12/18/2025
- 1 Cosponsor added.
- 12/3/2025
- 1 Cosponsor added.
- 4/3/2025
- 1 Cosponsor added.
- 3/31/2025
- Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- 5 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Lisa Blunt RochesterDemocrat · Delaware
Susan CollinsRepublican · Maine
Christopher CoonsDemocrat · Delaware
Cindy Hyde-SmithRepublican · Mississippi
Lisa MurkowskiRepublican · Alaska
Christopher MurphyDemocrat · Connecticut
Jon OssoffDemocrat · Georgia
Dan SullivanRepublican · Alaska