Capital Construction Fund, $139,000 total funding
Purpose of this program:
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 or noncontiguous domestic trades.
20.808 CAPITAL CONSTRUCTION FUND
(CCF)
FEDERAL AGENCY
MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION
Merchant Marine Act of 1936, Section 607, as amended; Public Law 91-469, 84 Stat. 1018.
OBJECTIVES
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 or noncontiguous domestic trades.
TYPES OF ASSISTANCE
Direct Payments for Specified Use.
USES AND USE RESTRICTIONS
The capital construction fund program is a program created by the Merchant Marine Act of 1970 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.
Applicant Eligibility
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
U.S. citizen.
Credentials/Documentation
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.
Preapplication Coordination
Contact the Maritime Administration, Office of Ship Financing. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372.
Application Procedure
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. This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110.
Award Procedure
The Office of Ship Financing 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 Shipbuilding.
Deadlines
Applicant must execute a Capital Construction Fund Agreement prior to final due date for filing of Federal tax return to receive tax deferment for a given tax year.
Range of Approval/Disapproval Time
From 30 to 90 days.
Appeals
None.
Renewals
Not applicable.
Formula and Matching Requirements
Each agreement provides for a minimum deposit over a 3-year period to insure that the party is making a sufficient commitment to continue the agreement.
Length and Time Phasing of Assistance
Depends upon the individual program agreed to between the Maritime Administration and the applicant.
Reports
Annual reports specified in the agreement and the rules and regulations.
Audits
All financial records are subject to audit by the Internal Revenue Service and/or the Maritime Administration, Department of Transportation.
Records
See Reports.
Account Identification
69-1750-0-1-403.
Obligations
(Salaries and expenses) FY 06 $142,721; and FY 07 est $0; and FY 08 est not available.
Range and Average of Financial Assistance
Applicant receives tax benefits for depositing assets in accordance with the program.
PROGRAM ACCOMPLISHMENTS
As of March, 2005, there were a total of 132 active individual and consolidated Capital Construction Fund Agreements, with reported cumulative deposits since program inception in excess of $2.7 billion to accomplish construction and acquisition programs. Thus far in calendar year 2005, 2 applications have been approved.
REGULATIONS, GUIDELINES, AND LITERATURE
Capital Construction Fund Agreement; Parts 390 and 391, Title 46, CFR; Part 3, Title 26, CFR.
Regional or Local Office
See Maritime Administration Regional Offices listed in Appendix IV of the Catalog.
Headquarters Office
Associate Administrator for Shipbuilding, Office of Ship Financing,Maritime Administration, Department of Transportation, Washington DC 20590. Telephone: (202) 366-5744.
Web Site Address
http://www.marad.dot.gov
RELATED PROGRAMS
20.802, Federal Ship Financing Guarantees; 20.812, Construction Reserve Fund.
EXAMPLES OF FUNDED PROJECTS
The types of projects funded through the CCF are the acquisition, construction, and reconstruction of qualified agreement vessels such as tugs, barges, break bulk cargo vessels, LNG carriers, tankers, etc. In addition, these vessels must be documented under the laws of the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade. The definition of noncontiguous domestic trade includes trade between fixed drilling and production platforms located on the Outer Continental Shelf of the United States at a distance more than three miles from shore and the U.S. mainland.
CRITERIA FOR SELECTING PROPOSALS
See Award Procedure section of this program.
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 or noncontiguous domestic trades.
20.808 CAPITAL CONSTRUCTION FUND
(CCF)
FEDERAL AGENCY
MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION
Merchant Marine Act of 1936, Section 607, as amended; Public Law 91-469, 84 Stat. 1018.
OBJECTIVES
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 or noncontiguous domestic trades.
TYPES OF ASSISTANCE
Direct Payments for Specified Use.
USES AND USE RESTRICTIONS
The capital construction fund program is a program created by the Merchant Marine Act of 1970 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.
Applicant Eligibility
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
U.S. citizen.
Credentials/Documentation
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.
Preapplication Coordination
Contact the Maritime Administration, Office of Ship Financing. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372.
Application Procedure
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. This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110.
Award Procedure
The Office of Ship Financing 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 Shipbuilding.
Deadlines
Applicant must execute a Capital Construction Fund Agreement prior to final due date for filing of Federal tax return to receive tax deferment for a given tax year.
Range of Approval/Disapproval Time
From 30 to 90 days.
Appeals
None.
Renewals
Not applicable.
Formula and Matching Requirements
Each agreement provides for a minimum deposit over a 3-year period to insure that the party is making a sufficient commitment to continue the agreement.
Length and Time Phasing of Assistance
Depends upon the individual program agreed to between the Maritime Administration and the applicant.
Reports
Annual reports specified in the agreement and the rules and regulations.
Audits
All financial records are subject to audit by the Internal Revenue Service and/or the Maritime Administration, Department of Transportation.
Records
See Reports.
Account Identification
69-1750-0-1-403.
Obligations
(Salaries and expenses) FY 06 $142,721; and FY 07 est $0; and FY 08 est not available.
Range and Average of Financial Assistance
Applicant receives tax benefits for depositing assets in accordance with the program.
PROGRAM ACCOMPLISHMENTS
As of March, 2005, there were a total of 132 active individual and consolidated Capital Construction Fund Agreements, with reported cumulative deposits since program inception in excess of $2.7 billion to accomplish construction and acquisition programs. Thus far in calendar year 2005, 2 applications have been approved.
REGULATIONS, GUIDELINES, AND LITERATURE
Capital Construction Fund Agreement; Parts 390 and 391, Title 46, CFR; Part 3, Title 26, CFR.
Regional or Local Office
See Maritime Administration Regional Offices listed in Appendix IV of the Catalog.
Headquarters Office
Associate Administrator for Shipbuilding, Office of Ship Financing,Maritime Administration, Department of Transportation, Washington DC 20590. Telephone: (202) 366-5744.
Web Site Address
http://www.marad.dot.gov
RELATED PROGRAMS
20.802, Federal Ship Financing Guarantees; 20.812, Construction Reserve Fund.
EXAMPLES OF FUNDED PROJECTS
The types of projects funded through the CCF are the acquisition, construction, and reconstruction of qualified agreement vessels such as tugs, barges, break bulk cargo vessels, LNG carriers, tankers, etc. In addition, these vessels must be documented under the laws of the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade. The definition of noncontiguous domestic trade includes trade between fixed drilling and production platforms located on the Outer Continental Shelf of the United States at a distance more than three miles from shore and the U.S. mainland.
CRITERIA FOR SELECTING PROPOSALS
See Award Procedure section of this program.
Labels: business grant, business grant for anyone, business grant for general public
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