b'LEGISLATIVE REPORTLEGISLATIVE Capital Construction Fund:An Investment in the FutureRICHARD PATCH // LEGISLATIVE DIRECTORF orPassengerVesselAssocia- UNDERSTANDING THE CCF quisition, or reconstruction of U.S.- tion (PVA) members lookingThe CCF program, originally estab- built vessels.to modernize their fleets andlishedundertheMerchantMarine expandtheirbusiness,theActof1936,wasdesignedtohelpIn December 2022, at the urging of Capital Construction Fund (CCF) isaddressthecompetitivedisadvan- PVA,Congressexpandedthepro-atailor-madefinancialopportunity.tagefacedbyU.S.-flaggedopera- grams original reach to include U.S.-AdministeredbytheMaritimeAd- torsrelativetoforeign-flagvesselsflagged vessels of all types. Previously ministration(MARAD),theCCFregisteredincountriesthatdonotlimited to specific geographic areas or acts as a maritime IRA, allowing thetaxshippingincome.Bydeferringparticular types of service, the CCF is account holder to save and invest taxfederal income tax on qualifying de- now available to any U.S.-built vessel free for acquisition, construction, orposits, the program helps U.S. vesselengagedinthedomesticorforeign reconstructionofadditionalU.S.- operatorsgrowcapitalfasterinor- commerce of the United States. This built vessels.der to finance the construction, ac- expansion, a longtime legislative pri-ority for PVA, has made the program accessible to a wide array of operators, including members of the PVA.PROGRAM GOALSAND BENEFITSThe CCF is not only a financial tool for vessel owners; it is also an invest-mentinthebroaderU.S.maritime sector. The program advances several key national objectives:Strengthening the Maritime Industry: By enabling reinvestment in modern fleets, the CCF supports economic growth and maintains U.S. competitiveness.Sustaining U.S. Shipbuilding: Vessels financed with CCF deposits must be built in American ship-yards, directly supporting domestic manufacturing and skilled labor.SCAN THE QR CODE TO LEARN Promoting a Vibrant Merchant ABOUT THE INDUSTRYS BESTMarine: The program encourages PERFORMING HULL DESIGN: vessel replacement and moderniza-SALES@ALLAMERICANMARINE.COM | 360.647.7602FOGHORN 32'