Maritime Subsidy Board Law and Legal Definition

Maritime Subsidy Board is a branch within the United States Maritime Administration which deals with Operating Differential Subsidy and Construction Differential Subsidy. Subsequent to the abolition of the U.S. Maritime Commission in 1950, its functions were assigned to the U.S. Federal Maritime Board and the United States Maritime Administration (MARAD). The MARAD was responsible for administering subsidy programs, maintaining the national defense reserve merchant fleet, and operating the U.S. Merchant Marine Academy. In 1961, the subsidy functions were assigned to the Maritime Subsidy Board of the Maritime Administration.