Title 46, Chapter 533 — Construction Reserve Funds

Definitions

Authority for construction reserve funds

Persons eligible to establish funds

Vessel ownership

Eligible fund deposits

Recognition of gain for tax purposes

Basis for determining gain or loss and for depreciating new vessels

Order and proportions of deposits and withdrawals

Accumulation of deposits

Obligation of deposits and period for construction of certain vessels

Taxation of deposits on failure of conditions

Assessment and collection of deficiency tax