46 U.S.C. § 53309
Accumulation of deposits
United States · Title 46 — SHIPPING · Status: effective
Cite this
- Citation
- 46 U.S.C. § 53309, Accumulation of deposits, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/488248
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Full text
For any taxable year, amounts on deposit in a construction reserve fund on the last day of the taxable year, for which the requirements of section 53310 of this title have been satisfied (to the extent they apply on the last day of the taxable year), are deemed to have been retained for the reasonable needs of the business within the meaning of section 537(a) of the Internal Revenue Code of 1986 (26 U.S.C. 537(a)).
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- To complete the codification of title 46, United States Code, "Shipping", as positive law.House: no recorded tallySenate: no recorded tally