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U.S. Code

§ 57301. Definitions

In this chapter:
(1) New vessel.— The term “new vessel” means a vessel—
(A) constructed under this subtitle and acquired within 2 years after the date of completion; or
(B) constructed in a domestic shipyard on private account and not under this subtitle, and documented under the laws of the United States.
(2) Obsolete vessel.— The term “obsolete vessel” means a vessel that—
(A) is of at least 1,350 gross tons;
(B) the Secretary of Transportation believes should, because of its age, obsolescence, or other reasons, be replaced in the public interest; and
(C) has been owned by a citizen of the United States for at least 3 years immediately before its acquisition under this chapter.
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