Abandoned Vessel Prevention Act

HR 2500, the Abandoned Vessel Prevention Act, holds the original seller liable for cleanup and damage costs if a decommissioned commercial vessel (or a recreational vessel previously used commercially) sinks after being transferred for recreational use. It directly affects individuals or companies selling such vessels, requiring them to cover specified expenses like pollution cleanup, debris removal, and water intake repairs if the vessel sinks. Exceptions apply for vessels under 35 feet, under 40 years old, or if the new owner has insurance covering these costs. The law shifts financial responsibility from taxpayers to the transferor for preventable sinkings of converted commercial vessels.