Promoting American Competition in Aquaculture Research Act

This bill reauthorizes federal funding for aquaculture research programs at $15 million annually from 2024 through 2028. It directly affects research institutions and organizations receiving federal grants for aquaculture development by changing how indirect costs (like administrative expenses) are handled. Specifically, it applies a standard indirect cost limitation to these grants while removing a separate restriction that previously applied. These changes aim to streamline funding for U.S. aquaculture research competitiveness without altering the core grant structure.