Capital Construction Fund


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Capital Construction Fund

An investment vehicle fishermen may use to defer taxation on income invested in it, provided it is used later to build, purchase or repair fishing vessels. The CCF is co-managed by the IRS and the National Marine Fisheries Service.
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The net $140 million withdrawn from the capital construction fund and the net $78 million decrease in debt also reflect the ship delivery, financing and the retirement of commercial paper.
This will drive a substantial increase in capital spending, but Matson has indicated that it will rely upon funds drawn from its tax-advantaged Capital Construction Fund to pay for the new ships.
To finance the purchase, Matson will tap its existing Capital Construction Fund of $170 million, supplemented with external borrowings of approximately $50 million.
They supported the proposal Card made for liberalizing the Capital Construction Fund but said they were troubled by possible limitations on the purchase of foreign-built ships.

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