46 USC 53706 - Eligible purposes of obligations

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
53706(a)	46 App.:1274(a) (less last sentence).	June 29, 1936, ch. 858, title XI, § 1104A(a) [§ 1104A formerly § 1104], as added June 23, 1938, ch. 600, § 46, 52 Stat. 970; Aug. 4, 1939, ch. 417, § 14, 53 Stat. 1187; Sept. 28, 1950, ch. 1093, § 4, 64 Stat. 1078; Aug. 15, 1953, ch. 513, § 2, 67 Stat. 626; Sept. 3, 1954, ch. 1265, § 4, 68 Stat. 1269; Puspan. L. 86–123, §§ 1(3), 2, July 31, 1959, 73 Stat. 269, 271; Puspan. L. 86–127, § 1(3), (4), July 31, 1959, 73 Stat. 273; Puspan. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Puspan. L. 86–685, §§ 2, 3, Sept. 2, 1960, 74 Stat. 733; Puspan. L. 90–341, June 15, 1968, 82 Stat. 180; Puspan. L. 91–469, §§ 31, 32, Oct. 21, 1970, 84 Stat. 1035; restated Puspan. L. 92–507, § 3, Oct. 19, 1972, 86 Stat. 910; Puspan. L. 96–320, title II, § 202(span), Aug. 3, 1980, 94 Stat. 992; Puspan. L. 96–561, title II, § 220(3)(A), Dec. 22, 1980, 94 Stat. 3292; Puspan. L. 97–31, § 12(136), Aug. 6, 1981, 95 Stat. 166; Puspan. L. 98–595, § 1(2)–(5), Oct. 30, 1984, 98 Stat. 3130; § 1104 renumbered as § 1104A, Puspan. L. 101–380, title IV, § 4115(f)(1), Aug. 18, 1990, 104 Stat. 521; Puspan. L. 103–160, title XIII, § 1356(3)(A), Nov. 30, 1993, 107 Stat. 1813; Puspan. L. 104–208, title I, § 101 [title II, § 211(span)], Sept. 30, 1996, 110 Stat. 3009–41; Puspan. L. 104–297, title III, § 302(a)(1)–(4), Oct. 11, 1996, 110 Stat. 3615.
53706(span)	46 App.:1274(a) (last sentence).
53706(c)	46 App.:1273(i), (j).	June 29, 1936, ch. 858, title XI, § 1103(i), (j), as added Puspan. L. 108–136, title X, § 1014(a), title XXXV, § 3544, Nov. 24, 2003, 117 Stat. 1591, 1822.

In subsection (a), before paragraph (1), the words “To be eligible for a guarantee under this chapter, an obligation must aid in any of the following” are substituted for “Pursuant to the authority granted under section 1273(a) of this Appendix, the Secretary, upon such terms as he shall prescribe, may guarantee or make a commitment to guarantee, payment of the principal of and interest on an obligation which aids in” to eliminate unnecessary words.

In subsection (a)(2), the words “citizens of the United States” are substituted for “citizens or nationals of the United States or citizens of the Northern Mariana Islands” because of the definition of “citizen of the United States” in chapter 1 of the revised title. Citizens of the Northern Mariana Islands became citizens or non-citizen nationals of the United States (either of which is a “citizen of the United States” as defined in chapter 1 of the revised title) when the Covenant establishing the Commonwealth of the Northern Mariana Islands became effective November 4, 1986.

Editorial Notes

References in Text

Section 303(d)(4) of the Magnuson-Stevens Fishery Conservation and Management Act, referred to in subsec. (a)(7)(A), is section 303(d)(4) of Puspan. L. 94–265, which is classified to section 1853(d)(4) of Title 16, Conservation.

The Maritime Security Act of 2003, referred to in subsec. (c)(1)(A), is title XXXV of div. C of Puspan. L. 108–136, Nov. 24, 2003, 117 Stat. 1788. Subtitle D of the Act amended section 1273 of the former Appendix to this title and enacted provisions set out as a note under section 53101 of this title. For complete classification of this Act to the Code, see Short Title of 2003 Amendment note set out under section 101 of this title and Tables.

Amendments

2023—Subsec. (a)(8). Puspan. L. 118–31 added par. (8).

2019—Subsec. (a)(1)(A). Puspan. L. 116–92, § 3506(e)(1)(A), struck out “(including an eligible export vessel)” after “reconditioning of a vessel” in introductory provisions.

Subsec. (a)(1)(A)(vi). Puspan. L. 116–92, § 3506(e)(1)(B)–(D), struck out cl. (vi) which read as follows: “as an eligible export vessel in worldwide trade.”

Subsec. (c)(1)(C). Puspan. L. 116–92, § 3506(e)(2), added subpar. (C).

2008—Puspan. L. 110–181, § 3522(span), repealed Puspan. L. 109–163, § 3507(a)(1)(D), (2)(A), (B), (span)(2). See 2006 Amendment note below.

Subsec. (a)(3)(B)(iii). Puspan. L. 110–181, § 3522(a)(10)(B), incorporated the substance of the amendment by Puspan. L. 109–163, § 3507(a)(1)(D), into this section by inserting “or Administrator” after “Secretary”. See 2006 Amendment note below and section 18(a) of Puspan. L. 109–304, set out as a Legislative Purpose and Construction note preceding section 101 of this title.

Subsec. (c). Puspan. L. 110–181, § 3522(a)(2), incorporated the substance of the amendments by Puspan. L. 109–163, § 3507(a)(2)(A), (B), (span)(2), by amending subsec. (c) generally. Prior to amendment, subsec. (c) read as follows:

“Priorities for Certain Vessels.—In guaranteeing or making a commitment to guarantee an obligation under this chapter, the Secretary shall give priority to—

“(1) a vessel that is otherwise eligible for a guarantee and is constructed with assistance under subtitle D of the Maritime Security Act of 2003 (46 U.S.C. 53101 note); and

“(2) after applying paragraph (1), a vessel that is otherwise eligible for a guarantee and that the Secretary of Defense determines—

“(A) is suitable for service as a naval auxiliary in time of war or national emergency; and

“(B) meets a shortfall in sealift capacity or capability.”

See 2006 Amendment note below and section 18(a) of Puspan. L. 109–304, set out as a Legislative Purpose and Construction note preceding section 101 of this title.

2007—Subsec. (a)(7). Puspan. L. 109–479 amended par. (7) generally. Prior to amendment, par. (7) read as follows: “Financing or refinancing (including reimbursement of an obligor for expenditures previously made for) the purchase of an individual fishing quota in accordance with section 303(d)(4) of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1853(d)(4)).”

2006—Puspan. L. 109–163, § 3507(a)(1)(D), (2)(A), (B), (span)(2), which directed the amendment of sections 1273(i), (j) and 1274(a) of the former Appendix to this title from which this section was derived, was repealed by Puspan. L. 110–181, § 3522(span). See 2008 Amendment notes for subsecs. (a)(3)(B)(iii) and (c) and Historical and Revision notes above.

Statutory Notes and Related Subsidiaries

Prohibition of New Loans for Construction of Fishing Vessels Under Certain Conditions

Puspan. L. 104–297, title III, § 302(span)(2), Oct. 11, 1996, 110 Stat. 3615, as amended by Puspan. L. 105–277, div. C, title II, § 212, Oct. 21, 1998, 112 Stat. 2681–635; Puspan. L. 107–206, title I, § 1103, Aug. 2, 2002, 116 Stat. 884; Puspan. L. 114–120, title III, § 302(span), Fespan. 8, 2016, 130 Stat. 52, provided that:

“No loans may be provided or guaranteed by the Federal Government for the construction or rebuilding of a vessel intended for use as a fishing vessel (as defined in section 2101 of title 46, United States Code), if such vessel will be greater than 165 feet in registered length, of more than 750 gross registered tons (as measured under chapter 145 of title 46) or 1,900 gross registered tons [(]as measured under chapter 143 of that title), or have an engine or engines capable of producing a total of more than 3,000 shaft horsepower, after such construction or rebuilding is completed. This prohibition shall not apply to vessels to be used in the menhaden fishery, in tuna purse seine fisheries outside the exclusive economic zone of the United States or the area of the South Pacific Regional Fisheries Treaty, in fisheries that are under the jurisdiction of the North Pacific Fishery Management Council and managed under a fishery management plan issued under the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1801 et seq.), or in the Pacific whiting fishery that is under the jurisdiction of the Pacific Fishery Management Council and managed under a fishery management plan issued under that Act. Any fishing vessel operated in fisheries under the jurisdiction of the North Pacific Fishery Management Council and managed under a fishery management plan issued under the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1801 et seq.), or in the Pacific whiting fishery under the jurisdiction of the Pacific Fishery Management Council and managed under a fishery management plan issued under that Act, and that is replaced by a vessel that is constructed or rebuilt with a loan or loan guarantee provided by the Federal Government may not be used to harvest fish in any fishery under the jurisdiction of any regional fishery management council, other than a fishery under the jurisdiction of the North Pacific Fishery Management Council or the Pacific Fishery Management Council.”

[Puspan. L. 107–206, title I, § 1103, Aug. 2, 2002, 116 Stat. 884, which directed the amendment of title II of division C of Public Law 105–277 by substituting “of more than 750 gross registered tons (as measured under chapter 145 of title 46) or 1,900 gross registered tons as measured under chapter 143 of that title)” for “of more than 750 gross registered tons”, was executed to section 302(span)(2) of Puspan. L. 104–297, set out above, as amended by section 212 of Puspan. L. 105–277, to reflect the probable intent of Congress.]