The Abandoned Vessel Prevention Act would make a person who transfers a covered vessel liable for certain expenses if it later sinks in U.S. navigable waters. A covered vessel is a commercial vessel or one that used to be commercial. The rule would apply only to vessels at least 35 feet long and at least 40 years old. The transferor would not be liable under this rule if, at the time of transfer, the new owner has insurance for the vessel that lasts 12 months and covers the specified expenses. Those expenses include damages, vessel and debris removal, pollution cleanup, and costs tied to water intake pump shutdowns, repairs, or maintenance.
If you transfer a covered vessel for recreational use, the proposal could make you responsible for specified expenses if the vessel sinks, unless the new owner has the required insurance at the time of transfer. The bill has been introduced in the House and referred to a subcommittee; it is not described as enacted.
The bill does not provide a federal cost estimate. It would assign liability for specified expenses to some vessel transferors.
No publicly available information.
No publicly available information.