Sec. 201. Maritime Security Trust Fund established
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Section 50301 of title 46, United States Code, is amended— by striking the section heading and inserting ; Funds established in subsection (e)— in paragraph (2), by redesignating subparagraphs (A), (B), and (C), as clauses (i), (ii), and (iii), respectively, and adjusting the margins accordingly; by redesignating paragraphs (1), (2), and (3), as subparagraphs (A), (B), and (C), respectively, and adjusting the margins accordingly; in subparagraph (A), as redesignated by subparagraph (B), by striking paragraph
(2)and inserting subparagraph
(B); in subparagraph (B), as redesignated by subparagraph (B), in the matter preceding clause (i), by striking Paragraph
(1)and inserting Subparagraph
(A); and in subparagraph (C), as redesignated by subparagraph (B), by striking Paragraph
(1)and inserting Subparagraph
(A); in subsection (f), by redesignating paragraphs
(1)through
(4)as subparagraphs
(A)through (D), respectively, and adjusting the margins accordingly; by redesignating subsections
(b)through
(g)as paragraphs
(2)through (7), respectively, and adjusting the margins accordingly; in subsection (a), by striking and all that follows through In General There is a and inserting the following: There is a ; in paragraph (4), by striking subsection
(a)and inserting paragraph
(1); and by adding at the end the following: There is a Maritime Security Trust Fund for use in carrying out programs or activities associated with supporting the merchant marine of the United States and the maritime industrial base, as authorized under the SHIPS for America Act of 2025 . The Fund shall be credited with amounts equivalent to the receipts from each of the following: The taxes received in the Treasury under— section 60301 of this title (relating to regular tonnage taxes); section 60302 of this title (relating to special tonnage taxes); and section 60303 of this title (relating to light money). The revenue collected from— duties imposed under section 466 of the Tariff Act of 1930 ( 19 U.S.C. 1466 ) (relating to equipment and repair of vessels); duties, fees, or monetary penalties imposed by the United States Trade Representative under section 301 of the Trade Act of 1974 ( 19 U.S.C. 2411 ) pursuant to the determination of the Trade Representative that the targeting of the maritime, logistics, and shipbuilding sectors for dominance by the People’s Republic of China is unreasonable and burdens or restricts United States commerce, notice of which was published in the Federal Register on January 23, 2025 (90 Fed. Reg. 8089); and duties imposed under section 60502 of this title (relating to discriminating duty on goods imported in foreign vessels or from contiguous countries). Any penalties paid with respect to a vessel pursuant to any of the following sections of this title: Section 2017. Section 2302. Section 3318. Section 3718. Section 4106. Section 5116. Section 11303. Section 11501. Section 12151. Section 12507. Section 14701. Section 30707, with respect to the portion of the fine that goes to the United States Government under subsection
(c)of such section. Section 31309. Section 31330. Section 41107. Section 41108. Section 42108. Section 44104. Section 70052. Section 70119. Section 70506. Section 80509. Any revenue generated in connection with the seizure and forfeiture of a maritime vessel under— section 3 of the Act of August 5, 1935 (49 Stat. 518, chapter 438; 19 U.S.C. 1703 ); section 70052 of this title; and section 70507 of this title. The total amount in the Maritime Security Trust Fund at any time shall not exceed $20,000,000,000. Amounts in the Maritime Security Trust Fund shall be available for making expenditures before October 1, 2035, to meet those obligations of the United States heretofore and hereafter incurred which are authorized to be paid out of the Maritime Security Trust Fund under the SHIPS for America Act of 2025, including the amendments made in such Act. .
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- 90 FR 8089
- 49 Stat. 518
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cites case law
Sec. 201
Maritime Security Trust Fund established
Fed. Reg.90 FR 8089
Stat.49 Stat. 518
Cites 5Cited by 0 across 0 sources