### Question
Can you define what new vessel means?


### Answer
**New vessel** is defined as the following in *26 CFR § 2.1*:

> any vessel (1) documented or agreed with the Commission to be documented under the laws of the United States; (2) constructed in the United States after December 31, 1939, or the construction of which has been financed under titles V or VII of this Act, as amended, or the construction of which has been aided by a mortgage insured under title XI of this Act as amended; 

#### Citation:
  - *26 CFR § 2.1*
  - Heading: **Title 26—Internal Revenue > PART 2—MARITIME CONSTRUCTION RESERVE FUND > CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED)**

