Boat Building Investment Act of 1998 - Amends the Internal Revenue Code to allow a personal tax credit (20 percent of the cost, $10 million maximum) for the purchase of a new U.S.-made luxury yacht.
Sets forth credit recapture rules upon disposition or registration or maintenance outside the United States.
Directs the Secretary of Commerce to establish a grant program to: (1) encourage persons outside the United to purchase such yachts; and (2) train yacht workers. Authorizes appropriations.
Introduced in House
Introduced in House
Referred to House Ways and Means
Referred to the Committee on Ways and Means, and in addition to the Committee on Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Commerce
Referred to the Subcommittee on Telecommunications, Trade, and Consumer Protection, for a period to be subsequently determined by the Chairman.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line