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Expanding Federal Loans for Ship Repairs and Boosting US Shipyards.

This law expands federal financing options, allowing loans for the repair, retrofitting, and modernization of vessels critical for national security and domestic commerce. The changes aim to support US shipyards by increasing available work and mandating the use of American-made products in modernization programs. This translates to increased investment in the domestic maritime industry and potential job growth in shipbuilding.
Key points
New federal loans for vessel upgrades: Financing is now available for ship reconstruction or repair necessary to qualify as a US vessel or to convert civilian ships for military use.
Mandatory "Buy America" rule: Shipyard modernization programs receiving federal funds must now prioritize and use American-made materials and products.
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Expired
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Additional Information
Print number: 118_HR_874
Sponsor: Rep. Garamendi, John [D-CA-8]
Process start date: 2023-02-08
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Federal Ship Financing Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_874.

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 2023-02-08.

What are the main provisions?

Key points include:

  • New federal loans for vessel upgrades: Financing is now available for ship reconstruction or repair necessary to qualify as a US vessel or to convert civilian ships for military use.
  • Mandatory "Buy America" rule: Shipyard modernization programs receiving federal funds must now prioritize and use American-made materials and products.
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-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Armed Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Transport Security