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Financing Ship Repairs in US Shipyards: New Loan Options

New rules allow a government agency (the Maritime Administration) to provide loans for ship repairs and upgrades done in US shipyards. This aims to help vessels meet requirements to be considered US vessels or get permits for coastal shipping.
Key points
The government can now finance ship repairs in US shipyards.
Loans cover work needed for a vessel to be considered a US vessel or operate along the coast.
Financing also applies to military, government, and maritime security program vessels.
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Additional Information
Print number: 117_HR_5114
Sponsor: Rep. Garamendi, John [D-CA-3]
Process start date: 2021-08-27
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend title 46, United States Code, to allow the Administrator of the Maritime Administration to finance vessel retrofit, repair, or similar work required for the vessel to be a vessel of the United States, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5114.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-08-27.

What are the main provisions?

Key points include:

  • The government can now finance ship repairs in US shipyards.
  • Loans cover work needed for a vessel to be considered a US vessel or operate along the coast.
  • Financing also applies to military, government, and maritime security program vessels.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garamendi, John [D-CA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Coast Guard and Maritime Transportation.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Transport