American Seafood Competitiveness Act of 2026

Access to Farm Ownership Loans: Under Section 2(b), commercial fishers and fish processors are included in the definitions for farmers and ranchers. This means they can now use direct and guaranteed farm ownership loans to buy commercial fishing permits, acquire fishing vessels, and make capital improvements to those vessels or fish processing facilities.

Access to Farm Operating Loans: Under Section 2(c), individuals and entities in commercial fishing and fish processing are made eligible for direct and guaranteed farm operating loans. This helps them cover the everyday costs of operating and maintaining their fishing vessels and processing facilities.

Grant and Marketing Help for Wild-Caught Seafood: Under Section 2(d)(1), wild-caught fish and shellfish are officially included as agricultural commodities in the Farmers' Markets and Local Food Promotion Program. This allows grant funds to be used for domestic seafood marketing.

Matching Funds Relief: Under Section 2(d)(2), the Secretary of Agriculture is given the authority to waive or reduce matching funds requirements for commercial fishing or fish processing grant recipients. This is helpful for smaller operations that might struggle to come up with matching cash.

Expanded Access to Credit: Under Section 3, Farm Credit Banks and Production Credit Associations can now extend credit and financial services to people who provide services directly related to the operating needs of aquatic product producers and harvesters.