Applicable Requirements. Deposits in and withdrawals from the fund are subject to the requirements included in the agreement or prescribed by the Secretary by regulation. How- ever, the Secretary may not require a person to deposit in the fund for a taxable year more than 50 percent of that portion of the person’s taxable income for that year (as determined under sec- tion 53505(a)(1) of this title) that is attributable to the operation of an agreement vessel. (Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1593.)
Appears in 4 contracts
Sources: Capital Construction Fund Agreement, Capital Construction Fund Agreement, Amendment to Capital Construction Fund Agreement