To amend title 46, United States Code, to include the replacement or purchase of additional cargo handling equipment as an eligible purpose for Capital Construction Funds, and for other purposes.
About This Bill
Committee
Latest Action · June 10, 2025
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
H.R. 3842 expands the types of investments allowed through Capital Construction Funds—tax-advantaged savings accounts used by maritime businesses—to now include cargo handling equipment at U.S. ports, in addition to the existing provisions for ship construction and reconstruction. The bill defines cargo handling equipment as vehicles and land-based equipment used to move cargo at marine terminals, with a preference for U.S.-manufactured equipment but allowing foreign-made alternatives if comparable U.S. products are unavailable. The legislation affects marine terminal operators and shipping companies by allowing them to set aside pre-tax earnings in Capital Construction Funds specifically for replacing, purchasing, or reconstructing cargo handling equipment at U.S. ports. The bill includes two key restrictions on withdrawals: funds cannot be used for fully automated cranes that would cause net job losses at terminals, and funds cannot be used to purchase cranes made in China. The Secretary of Transportation is required to annually publish information about the availability of U.S.-manufactured cargo handling equipment to help fund holders make informed purchasing decisions, though no specific funding appropriations are outlined in the bill.
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