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.
1/1/2023, 8:18 PMSummary of Bill HR 5114
Bill 117 hr 5114, also known as the Vessel Retrofit and Repair Financing Act, aims to amend title 46 of the United States Code to give the Administrator of the Maritime Administration the authority to provide financing for retrofitting, repairing, or other necessary work on vessels in order for them to be classified as vessels of the United States. This bill is designed to support the maritime industry by helping vessel owners and operators make necessary improvements to their vessels to meet the standards required for them to be considered vessels of the United States. The bill does not specify the amount of financing that would be available or the criteria for eligibility, but it is intended to provide a boost to the maritime industry and promote the use of vessels that meet US standards.Congressional Summary of HR 5114
This bill allows the Maritime Administration to guarantee financing (including reimbursement of an obligor for expenditures previously made) for reconstruction, reconditioning, retrofitting, repair, or similar work in a shipyard located in the United States for, among other things, making changes required for a vessel to be a vessel of the United States.
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Current Status of Bill HR 5114
Bill HR 5114 is currently in the status of Bill Introduced since August 27, 2021. Bill HR 5114 was introduced during Congress 117 and was introduced to the House on August 27, 2021. Bill HR 5114's most recent activity was Referred to the Subcommittee on Coast Guard and Maritime Transportation. as of August 30, 2021Bipartisan Support of Bill HR 5114
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5114
Primary Policy Focus
Transportation and Public WorksPotential Impact Areas
Government lending and loan guaranteesMarine and inland water transportationNavigation, waterways, harborsPublic Lands and Natural ResourcesAlternate Title(s) of Bill HR 5114
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.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.Comments
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Sponsors and Cosponsors of HR 5114
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