Statutory Text

46 U.S.C. § 57303 — Utility value and tonnage requirements

U.S.C. Title 46 - SHIPPING 46 U.S.C. United States Code, 2023 Edition Title 46 - SHIPPING Subtitle V - Merchant Marine Part F - Government-Owned Merchant Vessels CHAPTER 573 - VESSEL TRADE-IN PROGRAM Sec. 57303 - Utility value and tonnage requirements From the U.S. Government Publishing Office, www.gpo.gov

§57303. Utility value and tonnage requirements

(a) Utility Value.—The utility value of a new vessel to be acquired under this chapter for operation in the domestic or foreign commerce of the United States may not be substantially less than that of the obsolete vessel acquired in exchange under this chapter. (b) Tonnage.—If the Secretary of Transportation finds that the new vessel will have a utility value at least equal to that of the obsolete vessel, the new vessel may be of lesser gross tonnage than the obsolete vessel. However, the gross tonnage of the new vessel must be at least one-third the gross tonnage of the obsolete vessel.

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1662.)

Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large)

57303 46 App.:1160(c). June 29, 1936, ch. 858, title V, §510(c), as added Aug. 4, 1939, ch. 417, §7, 53 Stat. 1184; Pub. L. 97–31, §12(91), Aug. 6, 1981, 95 Stat. 161.

Source: uscode.house.gov — public domain Official Source ↗

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BS-USC46-SEC-1C3667

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boisestandard.org

Citation

46 U.S.C. § 57303

Jurisdiction

Federal — United States

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The statutory text of 46 U.S.C. § 57303 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).

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Ch. 573 — VESSEL TRADE-IN PROGRAM

46 U.S.C. § 57301 46 U.S.C. § 57302 46 U.S.C. § 57303 46 U.S.C. § 57304 46 U.S.C. § 57305 46 U.S.C. § 57306 46 U.S.C. § 57307 46 U.S.C. § 57308

46 U.S.C. — public domain ← All Legislation