Foreign-Flagged Yachts Sales Bill Reintroduced in Congress

The effort to overturn longstanding restrictions on selling foreign-flagged yachts stateside continues. It encountered a challenge with the start of the new Congressional year. However, thanks to the original bill sponsor, “not for sale to U.S. residents while in U.S. waters” could end with the 115th Congress. In 2015, Rep. Lois Frankel of Florida introduced Continue reading

H.R. 2369, Deferred Importation for Foreign-Flagged Yachts for Sale

EDITOR’S NOTE: This is the text of H.R. 2369, a bill currently before the House of Representatives Ways and Means Committee. Written and submitted by Rep. Lois Frankel of Florida, it aims to change an 87-year-old law. That law requires import duty on foreign-flagged yachts for sale be paid up front, before Americans can set Continue reading