46 USC § 53304 - Vessel ownership

---
identifier: "/us/usc/t46/s53304"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 53304 - Vessel ownership"
title_number: 46
title_name: "SHIPPING"
section_number: "53304"
section_name: "Vessel ownership"
chapter_number: 533
chapter_name: "CONSTRUCTION RESERVE FUNDS"
part_number: "C"
part_name: "Financial Assistance Programs"
positive_law: true
currency: "119-84"
last_updated: "2026-03-26"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1588.)"
---


# § 53304. Vessel ownership

In this chapter, a vessel is deemed to be constructed or acquired by a taxpayer if constructed or acquired by a corporation when the taxpayer owns at least 95 percent of each class of stock of the corporation.

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**Source Credit**: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1588.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 53304 | 46 App.:1161(l). | June 29, 1936, ch. 858, title V, § 511(l), as added Oct. 10, 1940, ch. 849, 54 Stat. 1108. |