Capital Construction Fund

To provide for replacement vessels, additional vessels or reconstructed vessels, built and documented under the laws of the United States for operation in the United States foreign, Great Lakes, Marine Highways or noncontiguous domestic trades.




Related Programs

Examples of Funded Projects

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


Agency - Department of Transportation

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.

Office - See Regional Agency Offices.

See Maritime Administration Regional Offices listed in Appendix IV of the Catalog.
Website Address

http://www.dot.gov




Program Accomplishments

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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