Individual Transferable Quotas in Fishery Management (CRS Report for Congress)
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| Release Date |
Sept. 25, 1995 |
| Report Number |
95-849 |
| Report Type |
Report |
| Authors |
Eugene H. Buck, Environment and Natural Resources Policy Division |
| Source Agency |
Congressional Research Service |
Summary:
Individual transferable quotas (ITQs) are controversial fishery management measuresallocating privileges of landing a specified portion of the total annual fish catch in the formof quota shares. This management option differs from the traditional open-access approachto commercial fisheries, and allows fishing vessel owners to sell their ITQ certificates or buyothers' certificates or, in some cases, lease their quota shares depending on how much (orwhether) they want to participate in the fishery. ITQ programs are intended to reduceovercapitalization, promote conservation of stocks, improve market conditions, and promotesafety in the fishing fleet. ITQ programs guarantee a share of the catch, thus generallyslowing or eliminating the "race to fish" and allowing fishermen flexibility over the rate andtiming of their fishing. Amendments to the Magnuson-Stevens Fishery Conservation andManagement Act in 1996 suspended consideration of new ITQ programs while the NationalAcademy of Science conducted a study of three existing federal ITQ programs and theirmerits.
