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Protecting US Shipbuilding Investments: Repayment Required Upon Foreign Sale.

This law aims to protect taxpayer money invested in American shipyards by ensuring federal funds do not subsidize foreign entities. It mandates the immediate repayment of all federal financial assistance if a US shipyard becomes majority-owned or controlled by foreign entities. Furthermore, shipyards not entirely owned by US persons are prohibited from using federal funds for capital improvements.
Key points
Shipyards that received federal financial assistance must repay the full amount if they are sold to or controlled by foreign persons or entities.
Federal funds cannot be used for capital improvements by shipyards that are not 100% owned by US persons.
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Expired
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Additional Information
Print number: 118_HR_9326
Sponsor: Rep. Higgins, Clay [R-LA-3]
Process start date: 2024-08-09
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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

Protecting American Investment in Shipbuilding Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9326.

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 2024-08-09.

What are the main provisions?

Key points include:

  • Shipyards that received federal financial assistance must repay the full amount if they are sold to or controlled by foreign persons or entities.
  • Federal funds cannot be used for capital improvements by shipyards that are not 100% owned by US persons.
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. Higgins, Clay [R-LA-3].

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 2025-12-26.

CATEGORIES

Economy Public Investments