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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 46 U.S.C. § 57303 Utility value and tonnage requirements us united_states_code code_section 46 SHIPPING 573 VESSEL TRADE-IN PROGRAM 57303 46 U.S.C. § 57303 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip /us/usc/t46/s57303 data/legal/raw/us/code/title-46/usc46.xml 53f616229f46efd8eff3635414821688863e754046f5df57cc7208ccde82f543 eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f fcb549606dfa3bab61a62f7798fa45972964c32a71f6ef7341373c06158a5616 2026-07-04 official
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46 U.S.C. § 57303 - Utility value and tonnage requirements

Text

(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.

(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.

(Pub. L. 109304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)

Notes

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. 9731, § 12(91), Aug. 6, 1981, 95 Stat. 161.