Building Ships in America Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Building Ships in America Act of 2025 aims to support the U.S. shipbuilding industry, maritime workforce, and national defense by providing tax incentives. It establishes a United States Vessel Investment Credit, creates a Maritime Security Payment exclusion, eliminates a 30-day limitation on domestic shipyard operations, and introduces provisions related to maritime fuel tax parity and designating maritime prosperity zones as opportunity zones. The bill also includes provisions for student incentive payment agreements and shipyard facility construction.
Key provisions
- Establishes a United States Vessel Investment Credit with various percentages based on vessel type and U.S.-based insurance and classification.
- Excludes certain maritime security payments from gross income.
- Eliminates a 30-day limitation on domestic operations for vessels.
- Creates a Maritime Prosperity Zone designation and treats these zones as opportunity zones.
- Provides a shipyard investment tax credit for qualified shipyard facilities.
- Exempts student incentive payment agreements from gross income.
- Establishes maritime fuel tax parity.
- Modifies the definition of a qualifying vessel to include certain cargo vessels and vessels meeting specific criteria.
Who is affected
- Shipbuilders and shipyard workers
- Shipping companies
- Taxpayers
- The U.S. Government
- Maritime industry
Bill text
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Sponsors
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5 on record
Primary sponsor
Cosponsors
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