2016 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine
Part F - Government-Owned Merchant Vessels
Chapter 573 - Vessel Trade-in Program
Sec. 57303 - Utility value and tonnage requirements

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Citation 46 U.S.C. § 57303 (2016)
Section Name §57303. Utility value and tonnage requirements
Section Text

(a) Utility Value.—The utility value of a new vessel to be acquired under this chapter for operation in the domestic or foreign commerce of the United States may not be substantially less than that of the obsolete vessel acquired in exchange under this chapter.

(b) Tonnage.—If the Secretary of Transportation finds that the new vessel will have a utility value at least equal to that of the obsolete vessel, the new vessel may be of lesser gross tonnage than the obsolete vessel. However, the gross tonnage of the new vessel must be at least one-third the gross tonnage of the obsolete vessel.

Source Credit

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1662.)

Editorial Notes
Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
57303 46 App.:1160(c). June 29, 1936, ch. 858, title V, §510(c), as added Aug. 4, 1939, ch. 417, §7, 53 Stat. 1184; Pub. L. 97–31, §12(91), Aug. 6, 1981, 95 Stat. 161.
Publication Title United States Code, 2012 Edition, Supplement 4, Title 46 - SHIPPING
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 46 - SHIPPING
Subtitle V - Merchant Marine
Part F - Government-Owned Merchant Vessels
CHAPTER 573 - VESSEL TRADE-IN PROGRAM
Sec. 57303 - Utility value and tonnage requirements
Contains section 57303
Date 2016
Laws In Effect As Of Date January 6, 2017
Positive Law Yes
Disposition standard
Statutes at Large References 53 Stat. 1184
95 Stat. 161
120 Stat. 1662
Public Law References Public Law 97-31, Public Law 109-304
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