To promote the construction of new, safe, and efficient vessels to carry the domestic and foreign waterborne commerce of the United States, the Secretary of Transportation may acquire an obsolete vessel in exchange for an allowance of credit toward the cost of construction or purchase of a new vessel as provided in this chapter.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1662.)
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