Definitions

constructed under this subtitle and acquired within 2 years after the date of completion; or constructed in a domestic shipyard on private account and not under this subtitle, and documented under the laws of the United States. is of at least 1,350 gross tons; the Secretary of Transportation believes should, because of its age, obsolescence, or other reasons, be replaced in the public interest; and has been owned by a citizen of the United States for at least 3 years immediately before its acquisition under this chapter. In this chapter: The term “new vessel” means a vessel— The term “obsolete vessel” means a vessel that— (Source: (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.))