---
type: "LegalText"
title: "46 U.S.C. § 53304"
description: "Vessel ownership"
jurisdiction: "us"
corpus: "united_states_code"
kind: "code_section"
title_number: 46
title_name: "SHIPPING"
chapter_number: "533"
chapter_name: "CONSTRUCTION RESERVE FUNDS"
section: "53304"
citation: "46 U.S.C. § 53304"
status: "current"
release_point: "119-100"
release_date: "2026-06-26"
source: "official"
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip"
source_identifier: "/us/usc/t46/s53304"
source_file: "data/legal/raw/us/code/title-46/usc46.xml"
source_hash: "ca4119197c74c0b7f32fa0db8bd605ec3e69aab63b7611b73ffb59acc780496e"
raw_snapshot_hash: "eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f"
text_hash: "3d4a0f791f2b3d7359cd0e6b157d7a67439379f74d47bb28de22ceba9ef10b59"
retrieved_at: "2026-07-04"
confidence: "official"
tags: ["legal", "us-code"]
---

# 46 U.S.C. § 53304 - Vessel ownership

## Text

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.

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

## Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5330446 App.:1161(l).June 29, 1936, ch. 858, title V, § 511(l), as added Oct. 10, 1940, ch. 849, 54 Stat. 1108.