Us Code § 53503 - Establishing a capital construction fund

Full text of Us Code United States Code § 53503 — Establishing a capital construction fund, with citation guidance and answers to common questions.

§ 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, 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.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
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

2022—Subsec. (b). Pub. L. 117–263 substituted "foreign or domestic trade of the United States" for "United States foreign, Great Lakes, noncontiguous domestic, or short sea transportation trade".

2007—Subsec. (b). Pub. L. 110–140 substituted "noncontiguous domestic, or short sea transportation trade" for "or noncontiguous domestic trade".


Statutory Notes and Related Subsidiaries

Effective Date of 2007 Amendment

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

About This Section

46 U.S.C. § 53503 is part of Title 46 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 46 U.S.C. § 53503. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

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Sources

Frequently Asked Questions About Us Code § 53503

What does United States Code § 53503 cover?

Section 53503 ("Establishing a capital construction fund") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

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Is this the official text of Us Code law?

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Sources & Verification

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