Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
42 lines
1.9 KiB
Markdown
42 lines
1.9 KiB
Markdown
---
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type: "LegalText"
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title: "46 U.S.C. § 57303"
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description: "Utility value and tonnage requirements"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 46
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title_name: "SHIPPING"
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chapter_number: "573"
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chapter_name: "VESSEL TRADE-IN PROGRAM"
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section: "57303"
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citation: "46 U.S.C. § 57303"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip"
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source_identifier: "/us/usc/t46/s57303"
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source_file: "data/legal/raw/us/code/title-46/usc46.xml"
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source_hash: "53f616229f46efd8eff3635414821688863e754046f5df57cc7208ccde82f543"
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raw_snapshot_hash: "eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f"
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text_hash: "fcb549606dfa3bab61a62f7798fa45972964c32a71f6ef7341373c06158a5616"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 46 U.S.C. § 57303 - Utility value and tonnage requirements
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## Text
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(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.
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(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.
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(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)
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## Notes
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Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5730346 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.
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