S. 254 — A bill to provide for inclusion of capital construction funds for fishery processing facilities.

Summary

(Reported to Senate from the Committee on Commerce, Science, and Transportation with amendment, S.Rept. 98-243)

Amends the Merchant Marine Act, 1936, to extend the capital construction fund tax deferral benefits to shoreside fish-processing facilities.

Enables any fund (whether set up for a vessel or for a processing facility) to be used to finance the purchase of either vessels or processing facilities.

Provides for the transfer of monies from one fund to another. Allows contributions to a fund by more than one person.

Prohibits the Secretary of Commerce from setting a minimum level for withdrawals from a fund. States that withdrawals may not be used for routine repairs and maintenance.

Full Text

Legislative Actions

1983-01-27
Introduced in Senate
1983-01-27
Read twice and referred to the Committee on Commerce.
1983-05-12
Subcommittee on Merchant Marine. Hearings held. Hearings printed: S.Hrg. 98-23.
1983-05-12
Subcommittee on National Ocean Policy Study. Hearings held. Hearings printed: S.Hrg. 98-23.
1983-08-02
Committee on Commerce. Ordered to be reported with an amendment in the nature of a substitute favorably.
1983-09-26
Committee on Commerce. Reported to Senate by Senator Packwood with an amendment in the nature of a substitute. With written report No. 98-243.
1983-09-26
Committee on Commerce. Reported to Senate by Senator Packwood with an amendment in the nature of a substitute. With written report No. 98-243.
1983-09-26
Placed on Senate Legislative Calendar under General Orders. Calendar No. 406.

A bill to provide for inclusion of capital construction funds for fishery processing facilities.

Sponsors

Subjects

Summary

Full Text

Legislative Actions

Ask about this bill