2133-AB98 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 2133 Maritime Administration MARAD 2100 Department of Transportation DOT Amendment to the Federal Ship Financing Program Regulations; Financial Requirements

The proposed rule is intended to update the lending parameters in the current regulations, which no longer best achieve the intended purpose of minimizing the risk of Title XI Program defaults, and to better align the lending practices to reflect federal credit and maritime lending best practices.  MARAD expects that the proposed regulations will reduce the economic burden on applicants in complying with Title XI Program requirements that are inconsistent with other lending instruments.  MARAD also  expects that the updated lending parameters could encourage the construction of vessels in United States shipyards which otherwise would not meet the current constrained Title XI Program financial requirements.

]]> Other Significant First Time Published in The Unified Agenda Proposed Rule Stage Undetermined No Section 610 Review 46 CFR 298 National Defense Authorization Act for Fiscal Year 2020, Pub. L. 116-92 46 U.S.C. ch. 537 49 CFR 1.93(a) No NPRM 04/25/2023 88 FR 24962 NPRM Comment Period End 06/26/2023 Final Rule 09/00/2023 No No None No No Yes No Mitch Hudson Attorney 2133 Maritime Administration MARAD 202 366-9373 mitch.hudson@dot.gov 1200 New Jersey Avenue SE, Washington DC 20590