American Seafood Competitiveness Act of 2026

The American Seafood Competitiveness Act of 2026 aims to expand access to federal financial assistance for the commercial fishing and fish processing industries. It amends the Consolidated Farm and Rural Development Act to redefine key terms, making individuals and entities engaged in commercial fishing and fish processing eligible for Department of Agriculture loans and grants. Specifically, the definitions of "farmer" and "farming" are broadened, and "farm" is expanded to include commercial fishing vessels and fish processing facilities, enabling these businesses to apply for direct and guaranteed farm ownership loans and farm operating loans.

These loans can be used by commercial fishery participants for acquiring permits, purchasing vessels, or making capital improvements, while fish processors can use funds for acquiring or upgrading processing facilities. The bill also integrates wild-caught fish into the Local Agriculture Market Program, allowing it to be considered an agricultural commodity for farmers' markets and local food promotion, and includes domestic seafood marketing as an eligible activity. The Secretary of Agriculture gains authority to waive or reduce matching fund requirements for commercial fishing or fish processing businesses receiving these grants.

The Act mandates that USDA integrate the commercial fishing industry into relevant programs within one year, providing outreach, technical assistance, and personnel training, while coordinating with other federal and state agencies. Furthermore, the bill expands eligibility for credit and financial services from Farm Credit Banks and Production Credit Associations to include businesses that provide services directly related to the operating needs of producers or harvesters of aquatic products.