Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36AUGUST 2016 • FOGHORN 21 LEGISLATIVEREPORT By Ed Welch, PV A Legislative Director NOTE FROM ED WELCH – As part of PVA’s effort to promote the availabil- ity of the Maritime Administration’s Capital Construction Fund (CCF), I have invited Mr. H. Clayton Cook Jr., Principal, Cook Maritime Finance, McLean, VA, to discuss how the CCF program could benefit PVA Associate Member shipyards. Here is Clay’s article: I n the second paragraph of Ed Welch’s April 2016 FOGHORN column, “Look Into the Value of A Capital Construction Fund,” he notes that, “The CCF is available to select private-sector vessel operators (and shipyards too). Some of us like to char- acterize the CCF as a ‘maritime IRA.’” Mr. Welch’s article on the CCF Program provides the information for a U.S. citizen vessel owner-operator to understand the program, and a “road map” for its use. However, the article did not address the shipyard use of the program. And, it would have been difficult for the author to know where to direct his readers to any publicly available references from the U.S. Maritime Administration (MARAD) to U.S. shipyard CCF Program use. There is no mention of CCF by shipyards on the MARAD website, nor is there any reference to shipyard use in the MARAD 46 CFR Part 390 or the MARAD/IRS Part 391 joint regula- tions. Despite MARAD’s silence on the subject, there is clear precedent for an American shipyard to set up and use a Capital Construction Fund. A shipyard that is an Associate Member of the Passenger Vessel Association should consider whether it would be advanta- geous to establish its own CCF. The Merchant Marine Act of PVA Shipyards – You Too Can Use Capital Construction Fund EVERYTHING YOU NEED TO POWER FORWARD Produced by Presented by NOV. 30 - DEC. 2, 2016 NEW ORLEANS Morial Convention Center Halls A, B, C, D, E & F To exhibit contact: Chris Dimmerling cdimmerling@divcom.com Register before the show using promo code: FOGHORN and receive FREE* admission to the exhibit hall and keynotes. workboatshow.com SAVE $50! *Non-Exhibiting Suppliers Fee - $50 Pre-show and Onsite. WF_100050_IWBS16_Ad_half_page.indd 1 8/8/16 3:13 PM