46 U.S.C. § 53503 | Establishing a capital construction fund

(a)

In General .—

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.

(b)

Allowable Purpose .—

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.

Pub. L. 109–304, § 8(c)Oct. 6, 2006120 Stat. 1593 Pub. L. 110–140, title XI, § 1122(b)Dec. 19, 2007121 Stat. 1762 Pub. L. 117–263, div. C, title XXXV, § 3545Dec. 23, 2022136 Stat. 3100(, , ; , , ; , , .)

Historical and Revision Notes
53503(a)	46 App.:1177(a) (1st sentence).	June 29, 1936, ch. 858, title VI, § 607(a) (1st sentence), (2d sentence related to purpose), 49 Stat. 2005; June 23, 1938, ch. 600, §§ 23–28, 52 Stat. 960; Aug. 4, 1939, ch. 417, § 10, 53 Stat. 1185; July 17, 1952, ch. 939, §§ 17–19, 66 Stat. 764; Pub. L. 85–637, Aug. 14, 1958, 72 Stat. 216; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 87–45, § 6, May 27, 1961, 75 Stat. 91; Pub. L. 87–271, Sept. 21, 1961, 75 Stat. 570; restated Pub. L. 91–469, § 21(a), Oct. 21, 1970, 84 Stat. 1026; Pub. L. 97–31, § 12(97)(A), Aug. 6, 1981, 95 Stat. 162.
53503(b)	46 App.:1177(a) (2d sentence related to purpose).

Historical and Revision Notes

53503(a)

46 App.:1177(a) (1st sentence).

June 29, 1936, ch. 858, title VI, § 607(a) (1st sentence), (2d sentence related to purpose), 49 Stat. 2005; June 23, 1938, ch. 600, §§ 23–28, 52 Stat. 960; Aug. 4, 1939, ch. 417, § 10, 53 Stat. 1185; July 17, 1952, ch. 939, §§ 17–19, 66 Stat. 764; Pub. L. 85–637, Aug. 14, 1958, 72 Stat. 216; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 87–45, § 6, May 27, 1961, 75 Stat. 91; Pub. L. 87–271, Sept. 21, 1961, 75 Stat. 570; restated Pub. L. 91–469, § 21(a), Oct. 21, 1970, 84 Stat. 1026; Pub. L. 97–31, § 12(97)(A), Aug. 6, 1981, 95 Stat. 162.

53503(b)

46 App.:1177(a) (2d sentence related to purpose).

Editorial Notes

Amendments

Pub. L. 117–2632022—Subsec. (b). substituted “foreign or domestic trade of the United States” for “United States foreign, Great Lakes, noncontiguous domestic, or short sea transportation trade”.

Pub. L. 110–1402007—Subsec. (b). substituted “noncontiguous domestic, or short sea transportation trade” for “or noncontiguous domestic trade”.

Statutory Notes and Related Subsidiaries

Effective Date of 2007 Amendment

Pub. L. 110–140Dec. 19, 2007section 1601 of Pub. L. 110–140 section 1824 of Title 2Amendment by effective on the date that is 1 day after , see , set out as an Effective Date note under , The Congress.