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Capital Construction Fund

CCF
Number: 20.808
Agency: Department of Transportation
Office: Maritime Administration (MARAD)

Program Information 

Program Number/Title (010):
20.808 Capital Construction Fund
Federal Agency (030):
Maritime Administration (MARAD), Department of Transportation
Authorization (040):
Merchant Marine Act of 1936, Section 607, Public Law 91-469, 1018 Stat. , 46 U.S.C 53501 - 53517.
Objectives (050):
To provide for replacement vessels, additional vessels or reconstructed vessels, built and documented under the laws of the United States for operation in the United States foreign, Great Lakes, Marine Highways or noncontiguous domestic trades.
Types of Assistance (060):
Provision of Specialized Services
Uses and Use Restrictions (070):
The capital construction fund program is a program created to help rejuvenate the American Merchant Marine. The assistance provided is not through payment of appropriated funds, but rather allows the fund holder to defer a portion of tax monies that would otherwise be paid to the U.S. Government during the tax year. The extension of tax deferral privileges encourages the accomplishment of the program objective by allowing the fund holder to accumulate and use otherwise taxable earnings for the purposes of acquiring, constructing or reconstructing vessels built and documented in the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade and in the fisheries.
Eligibility Requirements (080)
Applicant Eligibility (081):
An applicant must be a U.S. citizen, own or lease one or more eligible vessels, have a program for the acquisition, construction or reconstruction of a qualified vessel and demonstrate the financial capabilities to accomplish the program.
Beneficiary Eligibility (082):
None.
Credentials/Documentation (083):
Be able to provide proof of requirements called for in the Applicant Eligibility section of this program. This program is excluded from coverage under OMB Circular No. A-87. This program is excluded from coverage under OMB Circular No. A-87.
Application and Award Process (090)
Preapplication Coordination (091):
Contact the Maritime Administration, Office of Financial Approvals and Marine Insurance. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedures (092):
This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. See Federal Register Notice (46 CFR Part 390, Appendix I) dated January 29, 1976. Persons seeking to enter into a Capital Construction Fund Agreement may make application by letter to the headquarters office shown below.
Award Procedure (093):
The Office of Financial Approvals and Marine Insurance reviews the application to determine the citizenship of the applicant, whether the applicant owns or leases one or more eligible vessels, has an acceptable program for the acquisition, construction or reconstruction of a qualified vessel and has the financial capability to accomplish the program. Approved by the Associate Administrator for Business and Finance Development.
Deadlines (094):
Contact the headquarters or regional office, as appropriate, for application deadlines.
Range of Approval/Disapproval Time (095):
From 30 to 90 days.
Appeals (096):
Not Applicable.
Renewals (097):
Not Applicable.
Assistance Consideration (100)
Formula and Matching Requirements (101):
This program has no statutory formula.
Matching requirements are not applicable to this program.
MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance (102):
Depends upon the individual program agreed to between the Maritime Administration and the applicant. Method of awarding/releasing assistance: by letter of credit.
Post Assistance Requirements (110)
Reports (111):
Annual reports specified in the agreement and the rules and regulations. SF-425. Annual reports specified in the agreement and the rules and regulations. SF-425. Annual reports specified in the agreement and the rules and regulations.
Audits (112):
This program is excluded from coverage under OMB Circular No. A-133. All financial records are subject to audit by the Internal Revenue Service and/or the Maritime Administration, Department of Transportation.
Records (113):
See Reports.
Financial Information (120)
Obligations (122):
(Provision of Specialized Services) FY 12 $0; FY 13 est $0; and FY 14 est $0 - There are no obligations. The company's own funds are used for the program.
Range and Average of Financial Assistance (123):
Applicant receives tax benefits for depositing assets in accordance with the program.
Program Accomplishments (130):
Not Applicable.
Regulations, Guidelines, and Literature (140):
Capital Construction Fund Agreement; Parts 390 and 391, Title 46, CFR; Part 3, Title 26, CFR.
Information Contacts (150)
Regional or Local Office (151) :
See Regional Agency Offices. See Maritime Administration Regional Offices listed in Appendix IV of the Catalog.
Headquarters Office (152):
George M. Zoukee 1200 New Jersey Avenue, S.E., Washington, District of Columbia 20590 Phone: (202)366-9595
Website Address (153):
http://www.dot.gov.
Examples of Funded Projects (170):
Not Applicable.
Criteria for Selecting Proposals (180):
See Award Procedure section of this program.