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S 343 109th Congress Senate

Capital Construction Fund Qualified Withdrawal Act of 2005

Official title: A bill to provide for qualified withdrawals from the Capital construction Fund for fishermen leaving the industry and for the rollover of Capital Construction … Show full official titleShow less

Official title: A bill to provide for qualified withdrawals from the Capital construction Fund for fishermen leaving the industry and for the rollover of Capital Construction Funds to individual retirement plans, and for other purposes.

Introduced: February 10, 2005 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
Taxation Administrative procedureCommerceDepartment of CommerceEquipment and supplies
More subjectsShow fewer subjects
FeesFisheriesFishery managementFishing boatsGovernment Operations and PoliticsIncome taxIndividual retirement accountsLabor and EmploymentLawLicensesMarine and coastal resources, fisheriesMarine safetyMerchant seamenOverfishingShipbuildingSubsidiesSustainable fisheriesTax deferralTax exclusionTransportation and Public Works
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 10, 2005
Read twice and referred to the Committee on Finance.
Feb 10, 2005
Sponsor introductory remarks on measure. (CR S1271-1272)
Feb 10, 2005
Introduced in Senate
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 Latest action February 10, 2005

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Capital Construction Fund Qualified Withdrawal Act of 2005 - Amends the Merchant Marine Act and the Internal Revenue Code to permit as qualified withdrawals from fishing capital construction funds any money used by retiring fishermen for the following purposes: (1) retiring an owner's commercial fishing vessels and related commercial fishing permits; (2) making a rollover contribution into an owner's individual retirement plan; (3) making a payment of an industry fee authorized by the fishing capacity reduction program; (4) acquiring a vessel monitoring system as a safety improvement for a fishing vessel; and (5) acquiring or constructing fishing gear designed to minimize or avoid bycatch.

 Related & companion bills 1
  • HR 2174 Identical bill Capital Construction Fund Qualified Withdrawal Act of 2005
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 343: Capital Construction Fund Qualified Withdrawal Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-S-343/
MLA
"S. 343: Capital Construction Fund Qualified Withdrawal Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-343/.
Bluebook (legal)
S. 343, 109th Cong. (2026), https://openamerica.io/bill/109-S-343/.
Markdown link
[S. 343: Capital Construction Fund Qualified Withdrawal Act of 2005](https://openamerica.io/bill/109-S-343/)
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