More Info »"/>

The Triton

News

Bill to defer import duty refiled in U.S.

ADVERTISEMENT

U.S. Rep. Lois Frankel of Florida reintroduced a bill this week to encourage more yachts to be available for sale in the United States.

At a press conference at Palm Harbor Marina in West Palm Beach, Fla., the Democratic congresswoman said amending a 1930 law would allow U.S. citizens to pay import duty after the purchase of a foreign-flagged yacht while in U.S. waters. Currently, the law requires duty to be paid before a vessel can be offered for sale.

Republican Rep. Ted Yoho of Florida partnered on the reintroduction of the bill. If passed, the bill will incentivize owners to bring their boats to the U.S. for sale, which will contribute to the economies of coastal communities and create jobs, Rep. Frankel said.

Click for the full text of bill H.R. 2369 (previously H.R.4065) “To amend the Tariff Act of 1930 to provide for a deferral of the payment of a duty upon the sale of certain used yachts, and for other purposes.”

Click to view today’s press conference.

Click to read previous coverage in The Triton.

 

Related Posts...
May 25, 2017 Capt. Kent Kohlberger and the crew on Read more...
Superyacht Insurance Group is the exclusive insurance broker for Global Read more...
By Dorie Cox Many yachts are making their initial trip Read more...

Share This Post

About Dorie Cox

Dorie Cox is editor of The Triton.

View all posts by Dorie Cox →

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

Editor’s Picks

Latest news from Bermuda

Latest news from Bermuda

May 25, 2017 Capt. Kent Kohlberger and the crew on M/Y Safira are docked at the America"s Cup Village in the Naval Dockyard in Bermuda …

From the Bridge: Below Deck annoys, damages but doesn’t destroy industry

From the Bridge: Below Deck annoys, damages but doesn’t destroy industry

From the Bridge: by Dorie Cox A reality show of yacht captains, crew and their guests on charter has been a big hit with TV viewers …

Savannah Yacht Center welcomes first yacht to graving dock

Savannah Yacht Center welcomes first yacht to graving dock

By Dorie Cox M/Y Aviva, a 223-foot Abeking & Rasmussen, is the first yacht in for service at Savannah Yacht Center's recently …

‘New’ Bermuda awaits yachts for charter, America’s Cup

‘New’ Bermuda awaits yachts for charter, America’s Cup

By Dorie Cox Many yachts are making their initial trip to Bermuda for the country's first hosting of the America’s Cup this month. And …