[Congressional Bills 110th Congress]
[From the U.S. Government Printing Office]
[S. 2865 Introduced in Senate (IS)]
2d Session
S. 2865
To permit qualified withdrawals from a capital construction fund
account under chapter 535 of title 46, United States Code, for gear or
equipment required for fishery conservation or safety of life at sea
without regard to the minimum cost requirement established by
regulation.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 15, 2008
Ms. Snowe (for herself, Mr. Reed, Mr. Kerry, Mr. Lieberman, Mr.
Whitehouse, Ms. Collins, and Mr. Kennedy) introduced the following
bill; which was read twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To permit qualified withdrawals from a capital construction fund
account under chapter 535 of title 46, United States Code, for gear or
equipment required for fishery conservation or safety of life at sea
without regard to the minimum cost requirement established by
regulation.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Fisheries Capital Construction Fund
Enhancement Act of 2008''.
SECTION 2. CERTAIN QUALIFIED CAPITAL CONSTRUCTION FUND WITHDRAWALS.
Section 53509 of title 46, United States Code, is amended--
(1) by striking ``or'' after the semicolon in paragraph (1)
of subsection (a);
(2) by redesignating paragraph (2) of subsection (a) as
paragraph (3);
(3) by inserting after paragraph (1) of subsection (a) the
following:
``(2) the acquisition of gear or equipment required for
safety of life at sea or to comply with conservation measures
within a fishery; or''; and
(4) by inserting after ``withdrawal.'' in subsection (c)
the following: ``The minimum cost requirements established by
such regulations (50 C.F.R. 259.31) shall not apply to a
withdrawal described in subsection (a)(2).''.
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