46 U.S.C. § 53303

Persons eligible to establish funds

A construction reserve fund may be established by a citizen of the United States that—

(1)

is operating a vessel in the foreign or domestic commerce of the United States or in the fisheries;

(2)

owns, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries;

(3)

was operating a vessel in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the United States Government;

(4)

owned, in whole or in part, a vessel being operated in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government; or

(5)

had acquired or was having constructed a vessel to operate in the foreign or domestic commerce of the United States or in the fisheries when it was bought or requisitioned by the Government.

( Pub. L. 109–304, § 8(c) , Oct. 6, 2006 , 120 Stat. 1587 .)