---
kind: "section"
citation: "46 U.S.C. § 53304"
title: "46"
title_heading: "Shipping"
number: "53304"
heading: "Vessel ownership"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/53304"
units:
  - "Subtitle V — Merchant Marine"
  - "Part C — Financial Assistance Programs"
  - "Chapter 533 — Construction Reserve Funds"
---

# §53304. Vessel ownership


In this chapter, a [vessel](/usc/46/53501.md?p=9) is deemed to be constructed or acquired by a taxpayer if constructed or acquired by a corporation when the taxpayer owns at least 95 percent of each class of stock of the corporation.


## Source credit

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1588.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>Section | Source (U.S. Code) | Source (Statutes at Large) |
| 53304 | 46 App.:1161(l). | June 29, 1936, ch. 858, title V, § 511(l), as added Oct. 10, 1940, ch. 849, 54 Stat. 1108. |