American Shipyard Investment Act of 2026

New tax credit for shipyards

This bill would create a Shipyard Investment Tax Credit equal to 25% of a taxpayer's qualified investment. The credit would rise to 35% for qualified shipyards located in an area described in section 1400Z-1. "Qualified investment" would be the basis of qualified property placed in service that is part of a qualified shipyard facility. A qualified shipyard facility would be in the United States (including territories) and would primarily build or repair commercial or military vessels, make components the Treasury Secretary (after consulting the Secretary of the Navy and the Maritime Administrator) deems critical, or make equipment used to produce or repair such vessels. The credit would apply to property placed in service after the bill's introduction and would not apply to property placed in service after December 31, 2033. The bill would add conforming tax-code changes and would allow certain taxpayers to elect direct payment or transfer of the credit; the Treasury Secretary could issue regulations or guidance to administer it.