((a)) ** Submission for approval** The State shall submit its program and submit revisions, modifications, or amendments to the Secretary in accordance with standards established pursuant to and in such manner and form as the Secretary shall prescribe.section 3332 of this title
((b)) ** Requirements for approval** Prior to approving such program or any revision, modification, or amendment, and authorizing Federal funds to be distributed in accordance with this subchapter, the Secretary must find that—
((1)) the State, acting through its chosen agency or agencies, has authority to carry out a commercial and charter vessel fleet reduction program in accordance with the provisions of this subchapter;
((2)) the State program provides that a fishing or charter vessel may not be purchased by the State from other than the person who owned the vessel on ;
((3)) the State program prevents the expenditure of a disproportionate amount of funds available for vessel acquisition on vessels owned by any one person;
((4)) the State program prohibits the purchase of any fishing or charter vessel unless all State commercial and charter salmon fishing licenses attached to the vessel are also sold to the State;
((5)) the State program provides that no person may purchase from the State any vessel which that person or a member of that person’s immediate family had previously sold to the State;
((6)) the State program provides that no person may purchase any vessel sold to the State pursuant to the program and use such vessel for commercial or charter salmon fishing in the Washington conservation area, unless State law provides that the use of such vessel could not result in any additional fishing effort in the non-Indian fishing fleet;
((7)) the State program provides for purchase of vessels at their fair market value;
((8)) the State program provides for the reduction of salmon fishing licenses, through purchase of such licenses at their fair market value, and the use of bonuses and schedules, to—
((A)) secure an early retirement from the salmon fishery;
((B)) recognize productiveness if the commercial harvesters using a gear type wish that gear type’s specific allocation of funds to recognize productiveness; and
((C)) recognize passenger-carrying capacity for charter fishing licenses;
((9)) the State program provides, with respect to marginally productive commercial salmon fishermen, for the purchase of their salmon fishing licenses, but not their fishing vessels;
((10)) the State maintains a moratorium, or similar program, to preclude the issuance of new commercial or charter salmon fishing licenses; and
((11)) the State has established a revolving fund for the operation of the fleet reduction program that includes an individual account for each category of fishing license (based on type of fishing gear used) and that any moneys received by the State or its agents from the resale of any fishing vessel or gear purchased under the program (A) shall be placed in such revolving fund, (B) shall, for at least 2 years from the date of the program’s inception, be placed in the appropriate individual account, and (C) shall be used exclusively to purchase commercial fishing and charter vessels and licenses in accordance with the provisions of this subchapter.
((c)) ** Secretarial action** The Secretary shall approve such program within ninety days of the date of receipt of the program if found to be consistent with this chapter and other applicable law. If the Secretary finds that such program is not in conformity with the provisions of this chapter or other applicable law, he shall return such program to the State with recommendations. Any revision, modification, or amendment to the program shall be approved within thirty days of receipt unless found to be inconsistent with this chapter or other applicable law.