Capital Construction Fund

 

To provide for replacement vessels, additional vessels or reconstructed vessels, built and documented under the laws of the United States for operation in the United States foreign, Great Lakes, Marine Highways or noncontiguous domestic trades.

Active 20.808 Maritime Administration, Department of Transportation C - Direct Payments For Specified Use Fiscal Year 2016 In 2016 over $159 million of funds deposited in Capital Construction Funds was used to construct new vessels, reconstruct existing vessels or pay down debt on existing vessels. An additional $193 of earnings from the operation or sale of vessels was deposited into CCFs by the over 145 program participants, leaving a balance of over $2.1 billion on deposit.
Fiscal Year 2022 Applicants have received tax benefits for investing in their vessels and the program. Merchant Marine Act of 1936, Section 607, Public Law 91-469, 46 U.S.C. 53501 - 53517 , Statute 1018 U.S.C.,
The capital construction fund program is a program created to help rejuvenate the American Merchant Marine. The assistance provided is not through payment of appropriated funds, but rather allows the fund holder to defer a portion of tax monies that would otherwise be paid to the U.S. Government during the tax year. The extension of tax deferral privileges encourages the accomplishment of the program objective by allowing the fund holder to accumulate and use otherwise taxable earnings for the purposes of acquiring, constructing or reconstructing vessels built and documented in the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade and in the fisheries. An applicant must be a U.S. citizen, own or lease one or more eligible vessels, have a program for the acquisition, construction or reconstruction of a qualified vessel and demonstrate the financial capabilities to accomplish the program. None Be able to provide proof of requirements called for in the Applicant Eligibility section of this program. This program is excluded from coverage under OMB Circular No. A-87. Preapplication coordination is required. Environmental impact information is not required for this program. An environmental impact assessment is not required for this listing. This program is excluded from coverage under E.O. 12372. Contact the Maritime Administration, Office of Financial Approvals. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. . See Federal Register Notice (46 CFR Part 390, Appendix I) dated January 29, 1976. Persons seeking to enter into a Capital Construction Fund Agreement may make application by letter to the headquarters office shown below. Citizenship of the applicant, whether the applicant owns or leases one or more eligible vessels, has an acceptable program for the acquisition, construction or reconstruction of a qualified vessel and has the financial capability to accomplish the program. Approved by the Associate Administrator for Business and Finance Development. Contact the headquarters or regional location, as appropriate for application deadlines From 30 to 90 days. Not applicable. Not applicable. See Award Procedure section of this program. The capital construction fund program is a program created to help rejuvenate the American Merchant Marine. The assistance provided is not through payment of appropriated funds, but rather allows the fund holder to defer a portion of tax monies that would otherwise be paid to the U.S. Government during the tax year. The extension of tax deferral privileges encourages the accomplishment of the program objective by allowing the fund holder to accumulate and use otherwise taxable earnings for the purposes of acquiring, constructing or reconstructing vessels built and documented in the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade and in the fisheries. Performance Reports: Annual reports specified in the agreement and the rules and regulations. All financial records are subject to audit by the Internal Revenue Service and/or the Maritime Administration, Department of Transportation. See Reports. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. Depends upon the individual program agreed to between the Maritime Administration and the applicant. N/A See Maritime Administration Regional Offices listed in Appendix IV of the Catalog. Daniel Ladd
1200 New Jersey Avenue, S.E.
Washington, DC 20590 US
daniel.ladd@dot.gov
Phone: (202)366-1859 http://www.dot.gov 69-1750-0-1-403 (Direct Payments for Specified Use) FY 22$0.00; FY 23 est $0.00; FY 24 est $0.00; FY 21$0.00; FY 20$0.00; FY 19$0.00; FY 18$0.00; FY 17$0.00; FY 16$0.00; - No Obligations are awarded. Company's own funds are used for the program. Applicant receives tax benefits for depositing assets in accordance with the program. Capital Construction Fund Agreement; Parts 390 and 391, Title 46, CFR; Part 3, Title 26, CFR. Fiscal Year 2016 In 2016 CCF funds were used to install ship exhaust emissions scrubbers in vessels in the Great Lakes and servicing Alaska, reducing the harmful emissions from the vessels.
Fiscal Year 2022 Provided for replacement vessels, additional vessels or reconstructed vessels, built and documented under the laws of the United States for operation in the United States foreign, Great Lakes, Marine Highways or noncontiguous domestic trades.