Sec. 307. Loans for retrofitting to qualify as a vessel of the United States
122 words·~1 min read·
/bill/117/hr/6865/ih/section-307·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 53706(a) of title 46, United States Code, is amended by adding at the end the following: Financing (including reimbursement of an obligor for expenditures previously made for) the reconstruction, reconditioning, retrofitting, repair, or similar work in a shipyard located in the United States— required for the vessel to be a vessel of the United States; required for the vessel to be issued a coastwise endorsement under chapter 121; to convert a civilian vessel of the United States to a more useful military configuration; for any vessel under contract to the Federal Government; or for any vessel participating in— the Maritime Security Program under chapter 531; the Cable Security Fleet under chapter 532; or the Tanker Security Fleet under chapter 534. .