b'LEGISLATIVE REPORTLEGISLATIVE Capital Construction Fund Continues to GrowRICHARD PATCH // LEGISLATIVE DIRECTORI fitistruethatgoodnewscantbe to pass legislation that expanded vessel operators are the beneficiariesrepeatedtoooften,thenletssayit CCFeligibilitythathadpreviously ofthatgrowth.againtheCapitalConstruction been available only to a select fewFund(CCF)providesprivateowners operators in specific geographic Ofcourse,therearerestrictionsandof U.S.-flagged passenger vessels an locations or operating vehicle-car- requirements associated with theopportunity to defer federal income ryingferries.Thelawnowbenefits CCF.Apassengervesselconstructedtaxes and accumulate capital from any private PVA passenger vessel using CCF funds must be built inyearly earnings tax-free for the pur- ownerand,tangentially,manyPVAanAmericanshipyard.Thisrequire-pose of vessel construction, recon- associatemembers. mentfurtherbenefitstheU.S.mari-struction,oracquiringavessel. timesectorbysupportingAmericanToday, the Capital Construction shipyards and component suppliers.This opportunity comes courte- Fund is being made available more Additionally, CCF fundholders aresy of a hard-fought PVA victory broadlythaneverandU.S.passenger remindedthattheyareresponsiblefortimelyreportsubmissionandpropercertificationoffinancialdocuments.The Capital Construction Fund isadministered by the U.S. Maritime5 2 1 7 - C T C Administration (MARAD) to sup-porttheeconomicandnationalsecu-rityobjectivesofthenation.TheCCFstrengthens the maritime industry,49 PAX maintainsdomesticshipbuildingand+ 3 CREW maintenance, and encourages a vi-brantU.S.MerchantMarine.To enable vessel operators to learnmoreabouttheprogramortoinitiatean account, MARAD maintains awebpagewithlinkstovaluableinfor-mationandapplicationinstructions.LearnmorebyvisitingMARADssitefortheCapitalConstructionFund.NewsandinformationabouttheCCFwillbesharedatPVARegionMeet-ings(clickhereformeetinglocationsanddates).andattheupcomingPVAAnnual Convention at MariTrendswww.brixmarine.com 1-360-457-5752 2025inSavannah,Ga.,scheduledforJanuary27-30,2025.FOGHORN 32'