A bill to clear impediments to the documentation of foreign-built coaster vessels for specialized foreign trade carriage purposes.

Provides that any foreign-built coaster vessel, of a certain age and deadweight, which is reconstructed in the United States and documented under Federal laws, shall be included in the definition of "privately-owned United States-flag commercial vessel." States that the reconstruction cost of such a vessel in the United States shall be not be less than its acquisition cost.