b'tion, vital to a capable, reliable U.S.PROGRAM ADMINISTRATION Deposit funds in a MARAD-merchant fleet. AND REQUIREMENTS approved financial institutionTheCCFisadministeredbyMA-Benefits for participants include: RAD(forcommercialvessels)andCommit to using the funds for NOAA (for fishing vessels). To partic- qualified vessel activitiesFederal tax deferral on vesselipate, operators must:earnings, gains, depreciation, andSubmit annual financial reportsinvestment income. Enter a CCF agreement withand updates to MARADMARADTax-deferred growth of funds over a long horizonup to 25 years.Strategic reinvestment in vessels with deferred tax liabilities paid over the life of the new vessel.Accelerated capital accumulation for fleet modernization.Byshelteringincomefromtaxation, CCFallowsvesseloperatorstoac-cumulate capital much faster than if using after-tax dollars. The result is a powerful financial tool that supports long-terminvestmentinmoreeffi-cient,environmentallyfriendly,and technologically advanced vessels.WHO IS ELIGIBLE?EligibleparticipantsmustbeU.S. citizens, corporations, or partnerships withownershiporleasinginterests inaU.S.-flaggedvessel.Toqualify, vessels must:Be constructed, reconstructed,or acquired with CCF fundsBe built in the United StatesOperate in domestic or foreign commerce under the U.S.-flagThisbroadenedeligibilityhas openedthedoorforvirtuallyany PVAmemberwhohadpreviously been excluded due to geographic or operational constraints.33 APRIL 2025'