### Question
How does VESSEL OPERATING ASSISTANCE PROGRAMS define base period?


### Answer
Under *APPENDIX U.S.C. § 1173*, **base period** is defined as:

> any annual period beginning July 1, and ending June 30 with respect to which a base period cost is established

#### Citation:
  - *APPENDIX U.S.C. § 1173*
  - Heading: **CHAPTER 27-MERCHANT MARINE ACT, 1936 > SUBCHAPTER VI-VESSEL OPERATING ASSISTANCE PROGRAMS > Part A-Operating-Differential Subsidy Program**

