Protecting American Investment in Shipbuilding Act of 2024

HR 9326, the Protecting American Investment in Shipbuilding Act of 2024, requires U.S. shipyards that received federal financial assistance to repay all such funds immediately if they become majority-owned by foreign entities. This applies to shipyards that received grants, loans, or tax credits under programs like the Defense Production Act or CARES Act. The bill also prohibits any shipyard not wholly-owned by U.S. persons from using federal funds for capital improvements. It directly affects shipyards that have accepted federal support and later change ownership to foreign control, ensuring taxpayer funds remain tied to U.S. ownership.