Lets businesses get tax credits for building or upgrading U.S. shipyards.
Today, there is no specific tax credit for building or upgrading shipyard facilities. This bill would create a new tax credit for businesses that invest in U.S. shipyards, including those that build or repair ships, or make critical parts for them. It would also allow these businesses to get the credit as a direct payment or transfer it to another company.
Today, there is no specific tax credit for building or upgrading shipyard facilities in the U.S. Businesses also cannot typically get direct payments or transfer investment tax credits. If this bill becomes law, businesses would get a tax credit of 25 percent (or 35 percent in specific areas) for investments in qualified shipyard facilities. They would also be able to get this credit as a direct payment or transfer it to another entity.
HR 9921 · 119th Congress · AI Summary by gemini-2.5-flash · 9/10
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