For the purpose of facilitating implementation of section
55305 of title
46, funds made available for the purposes of part I of subchapter I of this chapter or for purposes of part IV of subchapter II of this chapter may be used to make grants to recipients to pay all or any portion of such differential as is determined by the Secretary of Commerce to exist between United States and foreign-flag vessel charter or freight rates. Grants made under this section shall be paid with United States-owned foreign currencies wherever feasible.
For the purpose of facilitating implementation of section
55305 of title
46, funds made available for the purposes of part I of subchapter I of this chapter or for purposes of part IV of subchapter II of this chapter may be used to make grants to recipients to pay all or any portion of such differential as is determined by the Secretary of Commerce to exist between United States and foreign-flag vessel charter or freight rates. Grants made under this section shall be paid with United States-owned foreign currencies wherever feasible.
References to Part I Deemed To Include Section 2293
References to part I of subchapter I of this chapter are deemed to include a reference to section
2293 of this title. See section
2293(d)(1) of this title.
Codification
In text, “section
55305 of title
46” substituted for “section 901(b) of the Merchant Marine Act, 1936 (46 U.S.C. 1241(b))” on authority of Pub. L. 109–304, § 18(c),Oct. 6, 2006, 120 Stat. 1709, which Act enacted section
55305 of Title
46, Shipping.
Amendments
1980—Pub. L. 96–533substituted “part IV of subchapter II of this chapter” for “subchapter IV of this chapter”.
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