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46 U.S.C. § 53706 — Eligible purposes of obligations

Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53706 — Eligible purposes of obligations

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Source location: Title 46, Chapter 537, § 53706; chapter-537-loans-and-guarantees.md

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**(a) In General.—** To be eligible for a guarantee under this chapter, an obligation must aid in any of the following: (1) (A) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, or reconditioning of a vessel designed principally for research, or for commercial use— (i) in the coastwise or intercoastal trade; (ii) on the Great Lakes, or on bays, sounds, rivers, harbors, or inland lakes of the United States; (iii) in foreign trade as defined in [section 109(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section109/b&num=0&edition=prelim); (iv) as an ocean thermal energy conversion facility or plantship; or (v) as a floating drydock in the construction, reconstruction, reconditioning, or repair of vessels. (B) A guarantee under subparagraph (A) may not be made more than one year after delivery of the vessel (or redelivery if the vessel was reconstructed or reconditioned) unless the proceeds of the obligation are used to finance the construction, reconstruction, or reconditioning of a vessel or of facilities or equipment related to marine operations. (2) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, reconditioning, or purchase of a vessel owned by citizens of the United States and designed principally for research, or for commercial use in the fishing industry. (3) Financing the purchase, reconstruction, or reconditioning of a vessel or fishery facility— (A) for which an obligation was guaranteed under this chapter; and (B) that, under subchapter II of this chapter— (i) is a vessel or fishery facility for which an obligation was accelerated and paid; (ii) was acquired by the Federal Ship Financing Fund or successor account under [section 53717 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53717&num=0&edition=prelim); or (iii) was sold at foreclosure begun or intervened in by the Secretary or Administrator. (4) Financing any part of the repayment to the United States Government of any amount of a construction-differential subsidy paid for a vessel. (5) Refinancing an existing obligation (regardless of whether guaranteed under this chapter) issued for a purpose described in paragraphs (1)–(4), including a short-term obligation incurred to obtain temporary funds with the intention of refinancing. (6) Financing or refinancing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, reconditioning, or purchase of a fishery facility. (7) Financing or refinancing— (A) the purchase of individual fishing quotas in accordance with section 303(d)(4) of the Magnuson-Stevens Fishery Conservation and Management Act (including the reimbursement of obligors for expenditures previously made for such a purchase); (B) activities that assist in the transition to reduced fishing capacity; or (C) technologies or upgrades designed to improve collection and reporting of fishery-dependent data, to reduce bycatch, to improve selectivity or reduce adverse impacts of fishing gear, or to improve safety. (8) Financing (including reimbursement of an obligor for expenditures previously made for) the reconstruction, reconditioning, retrofitting, repair, reconfiguration, or similar work in a shipyard located in the United States. **(b) Non-Vessels Treated as Vessels.—** An obligation guaranteed under subsection (a)(6) or (7) shall be treated, for purposes of this chapter, in the same manner and to the same extent as an obligation that aids in financing the construction, reconstruction, reconditioning, or purchase of a vessel, except with respect to provisions that by their nature can only be applied to vessels. **(c) Priorities for Certain Vessels.—** (1) **Vessels.—** — In guaranteeing or making a commitment to guarantee an obligation under this chapter, the Administrator shall give priority to— (A) a vessel that is otherwise eligible for a guarantee and is constructed with assistance under subtitle D of the Maritime Security Act of 2003 ([46 U.S.C. 53101](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53101&num=0&edition=prelim) note); (B) after applying subparagraph (A), a vessel that is otherwise eligible for a guarantee and that the Secretary of Defense determines— (i) is suitable for service as a naval auxiliary in time of war or national emergency; and (ii) meets a shortfall in sealift capacity or capability; and (C) after applying subparagraphs (A) and (B), Vessels of National Interest. (2) **Time for determination.—** — The Secretary of Defense shall determine whether a vessel satisfies paragraph (1)(B) not later than 30 days after receipt of a request from the Administrator for such a determination.

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53717 — Management of funds in the Treasury

**(a) Definition.—** In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 ([2 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661&num=0&edition=prelim) et seq.). **(b) Loan Guarantees by Administrator.—** (1) **When not subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA). (2) **When subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA). **(c) Loan Guarantees by Secretary.—** (1) **When not subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose. (2) **When subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose. **(d) Direct Loans by Secretary.—** The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 2101 — General definitions

In this subtitle— (1) “associated equipment”— (A) means— (i) a system, accessory, component, or appurtenance of a recreational vessel; or (ii) a marine safety article intended for use on board a recreational vessel; but (B) with the exception of emergency locator beacons for recreational vessels operating beyond 3 nautical miles from the baselines from which the territorial sea of the United States is measured or beyond 3 nautical miles from the coastline of the Great Lakes, does not include radio equipment. (2) “Coast Guard” means the organization established and continued under [section 101 of title 14](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title14-section101&num=0&edition=prelim). (3) “Commandant” means the Commandant of the Coast Guard. (4) “commercial service” includes any type of trade or business involving the transportation of goods or individuals, except service performed by a combatant vessel. (5) “consideration” means an economic benefit, inducement, right, or profit including pecuniary payment accruing to an individual, person, or entity, but not including a voluntary sharing of the actual expenses of the voyage, by monetary contribution or donation of fuel, food, beverage, or other supplies. (6) “crude oil” means a liquid hydrocarbon mixture occurring naturally in the earth, whether or not treated to render it suitable for transportation, and includes crude oil from which certain distillate fractions may have been removed, and crude oil to which certain distillate fractions may have been added. (7) “crude oil tanker” means a tanker engaged in the trade of carrying crude oil. (8) “dangerous drug” means a narcotic drug, a controlled substance, or a controlled substance analog (as defined in section 102 of the Com

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1801 — Findings, purposes and policy

**(a) Findings** The Congress finds and declares the following: (1) The fish off the coasts of the United States, the highly migratory species of the high seas, the species which dwell on or in the Continental Shelf appertaining to the United States, and the anadromous species which spawn in United States rivers or estuaries, constitute valuable and renewable natural resources. These fishery resources contribute to the food supply, economy, and health of the Nation and provide recreational opportunities. (2) Certain stocks of fish have declined to the point where their survival is threatened, and other stocks of fish have been so substantially reduced in number that they could become similarly threatened as a consequence of (A) increased fishing pressure, (B) the inadequacy of fishery resource conservation and management practices and controls, or (C) direct and indirect habitat losses which have resulted in a diminished capacity to support existing fishing levels. (3) Commercial and recreational fishing constitutes a major source of employment and contributes significantly to the economy of the Nation. Many coastal areas are dependent upon fishing and related activities, and their economies have been badly damaged by the overfishing of fishery resources at an ever-increasing rate over the past decade. The activities of massive foreign fishing fleets in waters adjacent to such coastal areas have contributed to such damage, interfered with domestic fishing efforts, and caused destruction of the fishing gear of United States fishermen. (4) International fishery agreements have not been effective in preventing or terminating the overfishing of these valuable fishery resources. There is danger that irreversible effects from overfishing will take place before an effectiv

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53101 — Definitions

In this chapter: (1) **Bulk cargo.—** — The term “bulk cargo” means cargo that is loaded and carried in bulk without mark or count. (2) **Contractor.—** — The term “contractor” means an owner or operator of a vessel that enters into an operating agreement for the vessel with the Secretary under section 53103. (3) **Fleet.—** — The term “Fleet” means the Maritime Security Fleet established under section 53102(a). (4) **Foreign commerce.—** — The term “foreign commerce” means— (A) commerce or trade between the United States, its territories or possessions, or the District of Columbia, and a foreign country; and (B) commerce or trade between foreign countries. (5) **Participating fleet vessel.—** — The term “participating fleet vessel” means any vessel that— (A) on October 1, 2015— (i) meets the requirements of paragraph (1), (2), (3), or (4) of section 53102(c); and (ii) is less than 20 years of age if the vessel is a tank vessel, or is less than 25 years of age for all other vessel types; and (B) on December 31, 2014, is covered by an operating agreement under this chapter. (6) **Person.—** — The term “person” includes corporations, partnerships, and associations existing under or authorized by the laws of the United States, or any State, Territory, District, or possession thereof, or of any foreign country. (7) **Product tank vessel.—** — The term “product tank vessel” means a double hulled tank vessel capable of carrying simultaneously more than 2 separated grades of refined petroleum products. (8) **Secretary.—** — The term “Secretary” means the Secretary of Transportation. (9) **Tank vessel.—** — The term “tank vessel” has the meaning that term has under [section 2101 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 101 — Agency

In this title, the term “agency” means a department, agency, or instrumentality of the United States Government.

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Federal law — U.S. Code and appendices · legal_authorities

16 U.S.C. § 1851 — National standards for fishery conservation and management

**(a) In general** Any fishery management plan prepared, and any regulation promulgated to implement any such plan, pursuant to this subchapter shall be consistent with the following national standards for fishery conservation and management: (1) Conservation and management measures shall prevent overfishing while achieving, on a continuing basis, the optimum yield from each fishery for the United States fishing industry. (2) Conservation and management measures shall be based upon the best scientific information available. (3) To the extent practicable, an individual stock of fish shall be managed as a unit throughout its range, and interrelated stocks of fish shall be managed as a unit or in close coordination. (4) Conservation and management measures shall not discriminate between residents of different States. If it becomes necessary to allocate or assign fishing privileges among various United States fishermen, such allocation shall be (A) fair and equitable to all such fishermen; (B) reasonably calculated to promote conservation; and (C) carried out in such manner that no particular individual, corporation, or other entity acquires an excessive share of such privileges. (5) Conservation and management measures shall, where practicable, consider efficiency in the utilization of fishery resources; except that no such measure shall have economic allocation as its sole purpose. (6) Conservation and management measures shall take into account and allow for variations among, and contingencies in, fisheries, fishery resources, and catches. (7) Conservation and management measures shall, where practicable, minimize costs and avoid unnecessary duplication. (8) Conservation and management measures shall, consistent with the conservation requirements of this chapter

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53701 — Definitions

In this chapter: (1) **Actual cost.—** — The term “actual cost” means the sum of— (A) all amounts paid by or for the account of the obligor as of the date on which a determination is made under [section 53715(d)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53715/d/1&num=0&edition=prelim); and (B) all amounts that the Secretary or Administrator reasonably estimates the obligor will become obligated to pay from time to time thereafter, for the construction, reconstruction, or reconditioning of the vessel, including guarantee fees that will become payable under [section 53714 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53714&num=0&edition=prelim) in connection with all obligations issued for construction, reconstruction, or reconditioning of the vessel or equipment to be delivered, and all obligations issued for the delivered vessel or equipment. (2) **Administrator.—** — The term “Administrator” means the Administrator of the Maritime Administration. (3) **Construction, reconstruction, and reconditioning.—** — The terms “construction”, “reconstruction”, and “reconditioning” include designing, inspecting, outfitting, and equipping. (4) **Depreciated actual cost.—** — The term “depreciated actual cost” of a vessel means— (A) if the vessel was not reconstructed or reconditioned, the actual cost of the vessel depreciated on a straight line basis over the useful life of the vessel as determined by the Secretary or Administrator, not to exceed 25 years from the date of delivery by the builder; or (B) if the vessel was reconstructed or reconditioned, the sum of— (i) the actual cost of the vessel depreciated on a straight line basis from the date of delivery by the

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53101 — Definitions

Page 390 TITLE 46—SHIPPING § 53101 In subsection (d), the words ‘‘certificate described in section 9(a) of the Military Selective Service Act (50 App. U.S.C. 459(a))’’ are substituted for ‘‘certificate re- ferred to in paragraph (1) of section 4301(a) of title 38’’ because section 4301 of title 38 was amended generally by section 2(a) of Public Law 103–353, and before the amendment section 4301(a)(1) referred to a certificate described in section 9(a) of the Military Selective Serv- ice Act (50 App. U.S.C. 459(a)). Editorial Notes AMENDMENTS 2018—Subsec. (d). Pub. L. 115–232 substituted ‘‘(50 U.S.C. 3808(a))’’ for ‘‘(50 App. U.S.C. 459(a))’’. 2017—Subsec. (c)(1)(A)(i). Pub. L. 115–91 substituted ‘‘section 57100’’ for ‘‘section 11 of the Merchant Ship Sales Act of 1946 (50 App. U.S.C. 1744)’’. PART C—FINANCIAL ASSISTANCE PROGRAMS Editorial Notes AMENDMENTS 2006—Pub. L. 109–304, § 8(b), Oct. 6, 2006, 120 Stat. 1586, inserted ‘‘Part C—Financial Assistance Programs’’. CHAPTER 531—MARITIME SECURITY FLEET Sec. 53101. Definitions. 53102. Establishment of Maritime Security Fleet. 53103. Award of operating agreements. 53104. Effectiveness of operating agreements. 53105. Obligations and rights under operating agree- ments. 53106. Payments. 53107. National security requirements. 53108. Regulatory relief. [53109. Repealed.] 53110. Regulations. 53111. Authorization of appropriations. Editorial Notes AMENDMENTS 2018—Pub. L. 115–232, div. C, title XXXV, § 3546(n), Aug. 13, 2018, 132 Stat. 2327, struck out item 53109 ‘‘Spe- cial rule regarding age of participating fleet vessel’’. § 53101. Definitions In this chapter: (1) BULK CARGO.—The term ‘‘bulk cargo’’ means cargo that is loaded and carried in bulk without mark or count. (2) CONTRACTO

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Federal law — U.S. Code and appendices · legal_authorities

46 U.S.C. § 53706 — Eligible purposes of obligations

Page 441 TITLE 46—SHIPPING § 53706 § 53706. Eligible purposes of obligations (a) IN GENERAL.—To be eligible for a guarantee under this chapter, an obligation must aid in any of the following: (1)(A) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, or re- conditioning of a vessel designed principally for research, or for commercial use— (i) in the coastwise or intercoastal trade; (ii) on the Great Lakes, or on bays, sounds, rivers, harbors, or inland lakes of the United States; (iii) in foreign trade as defined in section 109(b) of this title; (iv) as an ocean thermal energy conversion facility or plantship; or (v) as a floating drydock in the construc- tion, reconstruction, reconditioning, or re- pair of vessels. (B) A guarantee under subparagraph (A) may not be made more than one year after delivery of the vessel (or redelivery if the vessel was re- constructed or reconditioned) unless the pro- ceeds of the obligation are used to finance the construction, reconstruction, or recondi- tioning of a vessel or of facilities or equipment related to marine operations. (2) Financing (including reimbursement of an obligor for expenditures previously made for) the construction, reconstruction, recondi- tioning, or purchase of a vessel owned by citi- zens of the United States and designed prin- cipally for research, or for commercial use in the fishing industry. (3) Financing the purchase, reconstruction, or reconditioning of a vessel or fishery facil- ity— (A) for which an obligation was guaranteed under this chapter; and (B) that, under subchapter II of this chap- ter— (i) is a vessel or fishery facility for which an obligation was accelerated and paid; (ii) was acquired by t

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