46 U.S.C. § 57302 — Authority to acquire vessels
submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 54 words · no verdicts yet
This law lets the Secretary of Transportation take in an obsolete vessel and give the owner credit toward buying or building a new one, as a way to encourage building new, safe, efficient vessels for U.S. domestic and foreign trade.
To encourage building new, safe, and efficient vessels to carry U.S. domestic and foreign waterborne trade, the Secretary of Transportation may accept an obsolete vessel* from its owner, giving the owner credit toward the cost of building or buying a new vessel*, following the rules in this chapter.
To promote the construction of new, safe, and efficient vessels to carry the domestic and foreign waterborne commerce of the United States, the Secretary of Transportation may acquire an obsolete vessel* in exchange for an allowance of credit toward the cost of construction or purchase of a new vessel* as provided in this chapter.
Source credit: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)
- 2006Enacted · Pub. L. 109-304 · 120 Stat. 1662
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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