16 U.S. Code § 1861a - Transition to sustainable fisheries
The Secretary shall propose and adopt framework regulations applicable to the implementation of all programs under this section.
The Secretary shall implement each program under this section by promulgating regulations that, together with the framework regulations, establish each program and control its implementation.
The Secretary shall contract with each person participating in a program, and each such contract shall, in addition to including such other matters as the Secretary deems necessary and appropriate to effectively implement each program (including penalties for contract non-performance) be consistent with the framework and implementing regulations and all other applicable law.
Each program not involving fair market assessment shall involve a reduction auction that scores the reduction price of each bid offer by the data relevant to each bidder under an appropriate fisheries productivity factor. If the Secretary accepts bids, the Secretary shall accept responsive bids in the rank order of their bid scores, starting with the bid whose reduction price is the lowest percentage of the productivity factor, and successively accepting each additional responsive bid in rank order until either there are no more responsive bids or acceptance of the next bid would cause the total value of bids accepted to exceed the amount of funds available for the program.
Each program shall proceed by the Secretary issuing invitations to bid setting out the terms and conditions for participation consistent with the framework and implementing regulations. Each bid that the Secretary receives in response to the invitation to bid shall constitute an irrevocable offer from the bidder.
 So in original. Probably should be capitalized.
In subsecs. (b)(1)(C), (c)(1)(C), (2), and (d)(2), “section 53735 of title 46” substituted for “section 1111 of title XI of the Merchant Marine Act, 1936” on authority of Pub. L. 109–304, § 18(c), Oct. 6, 2006, 120 Stat. 1709, which Act enacted section 53735 of Title 46, Shipping.
A prior section 312 of Pub. L. 94–265, title III, Apr. 13, 1976, 90 Stat. 359, was set out as an Effective Date note under section 1857 of this title, prior to being amended generally by Pub. L. 104–297.
2007—Subsec. (a)(1)(B). Pub. L. 109–479, § 112(a)(1), substituted “measures, including regulatory restrictions (including those imposed as a result of judicial action) imposed to protect human health or the marine environment;” for “measures;”.
Subsec. (a)(4). Pub. L. 109–479, § 112(a)(2), substituted “2007 through 2013.” for “1996, 1997, 1998, and 1999.”
Subsec. (b)(1). Pub. L. 109–479, § 112(a)(3), in introductory provisions, substituted “the Governor of a State for fisheries under State authority, or a majority of permit holders in the fishery, may conduct a voluntary fishing” for “or the Governor of a State for fisheries under State authority, may conduct a fishing”.
Subsec. (b)(1)(B)(i). Pub. L. 109–479, § 112(a)(4), inserted “practicable” after “entrants,”.
Subsec. (b)(1)(C). Pub. L. 109–479, § 112(a)(5), substituted “cost-effective and, in the instance of a program involving an industry fee system, prospectively” for “cost-effective and”.
Subsec. (b)(2)(A). Pub. L. 109–479, § 112(a)(6), added subpar. (A) and struck out former subpar. (A) which read as follows: “the owner of a fishing vessel, if such vessel is (i) scrapped, or (ii) through the Secretary of the department in which the Coast Guard is operating, subjected to title restrictions that permanently prohibit and effectively prevent its use in fishing, and if the permit authorizing the participation of the vessel in the fishery is surrendered for permanent revocation and the owner relinquishes any claim associated with the vessel and permit that could qualify such owner for any present or future limited access system permit in the fishery for which the program is established; or”.
Subsec. (b)(4). Pub. L. 109–479, § 112(a)(7), substituted “The harvester proponents of each program and the Secretary shall consult, as appropriate and practicable, with Councils,” for “The Secretary shall consult, as appropriate, with Councils,”.
Subsec. (b)(5), (6). Pub. L. 109–479, § 112(a)(8), added pars. (5) and (6).
Subsec. (d)(1)(A). Pub. L. 109–479, § 112(a)(9), (10), in introductory provisions, substituted “Secretary” for “Secretary, at the request of the appropriate Council,” before “may conduct” and “Secretary” for “Secretary, in consultation with the Council,” before “shall—”.
Subsec. (d)(1)(B). Pub. L. 109–479, § 112(a)(11), substituted “at least a majority of the permit holders in the fishery, or 50 percent of the permitted allocation of the fishery, who participated in the fishery.” for “a two-thirds majority of the participants voting.”
Subsec. (d)(2)(C). Pub. L. 109–479, § 112(a)(12), substituted “establish, unless the Secretary determines that such fees should be collected from the seller;” for “establish;”.
Subsec. (e). Pub. L. 109–479, § 112(a)(13), added subsec. (e) and struck out former subsec. (e) which related to implementation plan.
Pub. L. 104–297, title I, § 116(b), Oct. 11, 1996, 110 Stat. 3603, as amended by Pub. L. 104–208, div. A, title I, § 101(a) [title II, § 211(b)], Sept. 30, 1996, 110 Stat. 3009, 3009–41, provided that: