Fiscal Year 2016: In 2016 CCF funds were used to install ship exhaust emissions scrubbers in vessels in the Great Lakes and servicing Alaska, reducing the harmful emissions from the vessels.
Fiscal Year 2017: No Current Data Available Fiscal Year 2018: No Current Data Available
The Department of Transportation's mission is to ensure fast, safe, efficient, accessible and convenient transportation that meets vital national interests and enhances the quality of life of the American people, today and into the future.
Fiscal Year 2016: In 2016 over $159 million of funds deposited in Capital Construction Funds was used to construct new vessels, reconstruct existing vessels or pay down debt on existing vessels. An additional $193 of earnings from the operation or sale of vessels was deposited into CCFs by the over 145 program participants, leaving a balance of over $2.1 billion on deposit. Fiscal Year 2017: No Current Data Available Fiscal Year 2018: No Current Data Available
Uses and Use Restrictions
The capital construction fund program is a program created to help rejuvenate the American Merchant Marine.
The assistance provided is not through payment of appropriated funds, but rather allows the fund holder to defer a portion of tax monies that would otherwise be paid to the U. S. Government during the tax year.
The extension of tax deferral privileges encourages the accomplishment of the program objective by allowing the fund holder to accumulate and use otherwise taxable earnings for the purposes of acquiring, constructing or reconstructing vessels built and documented in the United States and operated in the United States foreign, Great Lakes or noncontiguous domestic trade and in the fisheries.
Eligibility Requirements
Applicant Eligibility
An applicant must be a U.S.
citizen, own or lease one or more eligible vessels, have a program for the acquisition, construction or reconstruction of a qualified vessel and demonstrate the financial capabilities to accomplish the program.
Beneficiary Eligibility
None.
Credentials/Documentation
Be able to provide proof of requirements called for in the Applicant Eligibility section of this program. This program is excluded from coverage under OMB Circular No. A-87. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
Aplication and Award Process
Preapplication Coordination
Contact the Maritime Administration, Office of Financial Approvals.
Environmental impact information is not required for this program.
This program is excluded from coverage under E.O.
12372.
Application Procedures
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. . See Federal Register Notice (46 CFR Part 390, Appendix I) dated January 29, 1976. Persons seeking to enter into a Capital Construction Fund Agreement may make application by letter to the headquarters office shown below.
Award Procedures
Citizenship of the applicant, whether the applicant owns or leases one or more eligible vessels, has an acceptable program for the acquisition, construction or reconstruction of a qualified vessel and has the financial capability to accomplish the program. Approved by the Associate Administrator for Business and Finance Development.
Deadlines
Contact the headquarters or regional office, as appropriate, for application deadlines.
Authorization
Merchant Marine Act of 1936, Section 607, Public Law 91-469, 1018 Stat. , 46 U.S.C 53501 - 53517.
Range of Approval/Disapproval Time
From 30 to 90 days.
Appeals
Not Applicable.
Renewals
Not Applicable.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Depends upon the individual program agreed to between the Maritime Administration and the applicant. See the following for information on how assistance is awarded/released: N/A.
Post Assistance Requirements
Reports
Annual reports specified in the agreement and the rules and regulations.
Cash reports are not applicable.
Annual reports specified in the agreement and the rules and regulations.
SF-425.
Annual reports specified in the agreement and the rules and regulations.
Audits
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503. All financial records are subject to audit by the Internal Revenue Service and/or the Maritime Administration, Department of Transportation.
Records
See Reports.
Financial Information
Account Identification
69-1750-0-1-403.
Obigations
(Direct Payments for Specified Use) FY 16 $0; FY 17 est $0; and FY 18 est $0 - No Obligations are awarded. Company's own funds are used for the program.
Range and Average of Financial Assistance
Applicant receives tax benefits for depositing assets in accordance with the program.
Regulations, Guidelines, and Literature
Capital Construction Fund Agreement; Parts 390 and 391, Title 46, CFR; Part 3, Title 26, CFR.
Information Contacts
Regional or Local Office
See Regional Agency Offices. See Maritime Administration Regional Offices listed in Appendix IV of the Catalog.
Headquarters Office
Daniel Ladd 1200 New Jersey Avenue, S.E., Washington, District of Columbia 20590 Phone: (202)366-1859
Criteria for Selecting Proposals
See Award Procedure section of this program.
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