46 U.S.C. § 53503 — Establishing a capital construction fund
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 89 words · no verdicts yet
A U.S. citizen who owns or leases an eligible vessel may agree with the Secretary to set up a capital construction fund. The fund must pay for new, additional, or rebuilt vessels built and documented in the United States.
(a) In General. A U.S. citizen who owns or leases an eligible vessel* may make an agreement with the Secretary* to set up a "capital construction fund" for that vessel*.
(b) Allowable Purpose. The fund's purpose must be to pay for replacement vessels, additional vessels, or rebuilt vessels — built in the U.S. and documented under U.S. law — for operation in U.S. foreign or domestic trade or in U.S. fisheries*.
A citizen of the United States owning or leasing an eligible vessel* may make an agreement with the Secretary* under this chapter to establish a capital construction fund for the vessel*.
The purpose of the agreement shall be to provide replacement vessels, additional vessels, or reconstructed vessels, built in the United States and documented under the laws of the United States, for operation in the foreign or domestic trade of the United States or in the fisheries* of the United States.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1593; Pub. L. 110–140, title XI, § 1122(b), Dec. 19, 2007, 121 Stat. 1762; Pub. L. 117–263, div. C, title XXXV, § 3545, Dec. 23, 2022, 136 Stat. 3100.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1593
- 2007Amended · Pub. L. 110-140 · 121 Stat. 1762
- 2022Amended · Pub. L. 117-263 · 136 Stat. 3100
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.
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