Capital Construction Fund Agreement, Certificate Family of Forms, and Deposit/Withdrawal Report

This request is for extension and revision of this information collection to add a form (Schedule of Tax Basis) to the Certificate Family of Forms. NMFS is proposing to add the Schedule of Tax Basis form, which is required upon completion of a Schedule B project in order to determine the remaining tax basis of the qualified vessel. This request is for a revision and extension of a currently approved information collection. The Merchant Marine Act of 1936, as amended by Public Law 91–469 and Public Law 99–514, provides for the administration of a Capital Construction Fund (CCF) Program by NOAA’s National Marine Fisheries Service (NMFS). The law requires that applicants enter into formal Agreements with the Secretary of Commerce. The Agreement allows the fishermen to defer taxable income from operation of their fishing vessels if the money is placed into an account to fund the construction, reconstruction, or replacement of a fishing vessel. The program requirements are detailed at 50 CFR part 259. The Agreement is a contract between the Secretary of Commerce and the Agreement holder specifying the obligations of each party. Schedule A specifies the vessel which earned the income which is eligible for deposit in to a CCF account. Schedule B specifies the construction, acquisition, or reconstruction objectives planned under the Agreement. The Certificate of Construction/Reconstruction certifies the total cost at completion of Schedule B objectives.

The latest form for Capital Construction Fund Agreement, Certificate Family of Forms, and Deposit/Withdrawal Report expires 2026-07-31 and is listed under ICR 202205-0648-005.

Capital Construction Fund - Deposit/Withdrawal Report

Federal Enterprise Architecture: Natural Resources - Conservation, Marine and Land Management

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