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DOT/MARAD RIN: 2133-AB98 Publication ID: Fall 2023 
Title: Amendment to the Federal Ship Financing Program Regulations; Financial Requirements(Section 610 Review) 

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.

Agency: Department of Transportation(DOT)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
RFA Section 610 Review: Section 610 Review 
CFR Citation: 46 CFR 298   
Legal Authority: National Defense Authorization Act for Fiscal Year 2020, Pub. L. 116-92    46 U.S.C. ch. 537    49 CFR 1.93(a)   
Legal Deadline:  None
Action Date FR Cite
NPRM  04/25/2023  88 FR 24962   
NPRM Comment Period End  06/26/2023 
Final Rule  12/00/2023 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Agency Contact:
Mitch Hudson
Department of Transportation
Maritime Administration
1200 New Jersey Avenue SE,
Washington, DC 20590
Phone:202 366-9373