46 U.S.C. § 53304

Vessel ownership

In this chapter, a vessel is deemed to be constructed or acquired by a taxpayer if constructed or acquired by a corporation when the taxpayer owns at least 95 percent of each class of stock of the corporation.

( Pub. L. 109–304, § 8(c) , Oct. 6, 2006 , 120 Stat. 1588 .)