1984-22 Supporting United States Senate Bill 254 Amending The Merchant Marine Act.!ATTEST:
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A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY SUPPORTING UNITED
STATES SENATE BILL 254 AMENDING THE MERCHANT MARINE ACT.
WHEREAS, legislation to extend capital construction fund (CCF)
;benefits to shoreside processors would bring a needed boost to Alaska's
:fishing industry, and
I
WHEREAS, Senate Bill 254 which amends the Merchant Marine Act, now
pending on the Senate calendar and floor action is expected early this year,
and
WHEREAS, a staggering potential for expansion exists in Alaska's
!fishing industry, but is currently limited by lack of shoreside processing
facilities, and
WHEREAS, the CCF currently allows U. S. fishing vessel owners to
defer payment of federal income taxes to use those funds for capital invest-
ment and fishing vessels, and
WHEREAS, extending the CCF to shoreside processors would provide a
'new source of capital for the processors and distributors to encourage
rebuilding and expansion.
NOW, THEREFORE, BE IT RESOLVED by the Kodiak Island Borough Assembly
that Senate Bill 254 which would amend the Merchant Marine Act of 1936 by
,extending to onshore processors the use of fishery capital construction funds
'and would help provide a stable source of investment capital to Alaska's
Jshoreside fishing processing industry, be and
BE IT FURTHER RESOLVED that copies
The President, Ronald Reagan
The Honorable Bill Sheffield, Governor of Alaska
The Honorable Ted Stevens, U. S. Senate
The Honorable Frank H. Murkowski, U. S. Senate
The Honorable Donald Young, U. S. House of Representatives.
PASSED AND APPROVED this Ist day of March
> 1984.
KODIAK ISLAND BOROUGH
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KODIAK ISLAND BOROUGH
RESOLUTION NO. 84_22_R
By
Bor.� Mayor
is hereby endorsed.
of this
resolution be forwarded to;