Summary: S.1193 — 108th Congress (2003-2004)All Information (Except Text)

There is one summary for S.1193. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/05/2003)

Capital Construction Fund Qualified Withdrawal Act of 2003 - Amends the Merchant Marine Act and the Internal Revenue Code to permit as qualified withdrawals from fishing capital construction funds money used by retiring fishermen for the following purposes: (1) retiring an owner's commercial fishing vessels and related commercial fishing permits; (2) making a rollover contribution into an owner's individual retirement plan; (3) making a payment of an industry fee authorized by the fishing capacity reduction program; (4) the acquisition of a vessel monitoring system as a safety improvement for a fishing vessel; and (5) the acquisition or construction of fishing gear designed to minimize or avoid bycatch.