46 USC § 53503 - Establishing a capital construction fund

---
identifier: "/us/usc/t46/s53503"
source: "usc"
legal_status: "official_legal_evidence"
title: "46 USC § 53503 - Establishing a capital construction fund"
title_number: 46
title_name: "SHIPPING"
section_number: "53503"
section_name: "Establishing a capital construction fund"
chapter_number: 535
chapter_name: "CAPITAL CONSTRUCTION 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. 1593; Pub. L. 110–140, title XI, § 1122(b), Dec. 19, 2007, 121 Stat. 1762; Pub. L. 117–263, div. C, title XXXV, § 3545, Dec. 23, 2022, 136 Stat. 3100.)"
---


# § 53503. Establishing a capital construction fund

**(a)** **In General.—** A citizen of the United States owning or leasing an eligible vessel may make an agreement with the Secretary under this chapter to establish a capital construction fund for the vessel.

**(b)** **Allowable Purpose.—** The purpose of the agreement shall be to provide replacement vessels, additional vessels, or reconstructed vessels, built in the United States and documented under the laws of the United States, for operation in the foreign or domestic trade of the United States or in the fisheries of the United States.

---

**Source Credit**: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1593; Pub. L. 110–140, title XI, § 1122(b), Dec. 19, 2007, 121 Stat. 1762; Pub. L. 117–263, div. C, title XXXV, § 3545, Dec. 23, 2022, 136 Stat. 3100.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 53503(a) | 46 App.:1177(a) (1st sentence). | June 29, 1936, ch. 858, title VI, § 607(a) (1st sentence), (2d sentence related to purpose), 49 Stat. 2005; June 23, 1938, ch. 600, §§ 23–28, 52 Stat. 960; Aug. 4, 1939, ch. 417, § 10, 53 Stat. 1185; July 17, 1952, ch. 939, §§ 17–19, 66 Stat. 764; Pub. L. 85–637, Aug. 14, 1958, 72 Stat. 216; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 87–45, § 6, May 27, 1961, 75 Stat. 91; Pub. L. 87–271, Sept. 21, 1961, 75 Stat. 570; restated Pub. L. 91–469, § 21(a), Oct. 21, 1970, 84 Stat. 1026; Pub. L. 97–31, § 12(97)(A), Aug. 6, 1981, 95 Stat. 162. |
| 53503(b) | 46 App.:1177(a) (2d sentence related to purpose). |  |

## Editorial Notes

### Amendments

2022—Subsec. (b).  substituted “foreign or domestic trade of the United States” for “United States foreign, Great Lakes, noncontiguous domestic, or short sea transportation trade”.

2007—Subsec. (b).  substituted “noncontiguous domestic, or short sea transportation trade” for “or noncontiguous domestic trade”.

## Statutory Notes and Related Subsidiaries

### Effective Date of 2007 Amendment

Amendment by  effective on the date that is 1 day after , see , set out as an Effective Date note under , The Congress.