### Question
Can you define what base period means?


### Answer
**Base period** is defined as the following in *APPENDIX U.S.C. § 1173*:

> 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 24A-MERCHANT MARINE ACT, 1928 > SUBCHAPTER VI-VESSEL OPERATING ASSISTANCE PROGRAMS > Part A-Operating-Differential Subsidy Program**

