(a) Authority to guarantee obligations for eligible export vessels
The Administrator may guarantee obligations for eligible export vessels—
(1)in accordance with the terms and conditions of this subchapter applicable to loan guarantees in the case of vessels documented under the laws of the United States; or
(2)in accordance with such other terms as the Administrator determines to be more favorable than the terms otherwise provided in this subchapter and to be compatible with export credit terms offered by foreign governments for the sale of vessels built in foreign shipyards.
(b) Interagency council
(1) Establishment; composition
There is hereby established an interagency council for the purposes of this section. The council shall be composed of the Administrator, who shall be chairman of the Council, the Secretary of the Treasury, the Secretary of State, the Assistant to the President for Economic Policy, the United States Trade Representative, and the President and Chairman of the United States Export-Import Bank, or their designees.
(2) Purpose of the council
The council shall—
(A)obtain information on shipbuilding loan guarantees, on direct and indirect subsidies, and on other favorable treatment of shipyards provided by foreign governments to shipyards in competition with United States shipyards; and
(B)provide guidance to the Administrator in establishing terms for loan guarantees for eligible export vessels under subsection (a)(2) of this section.
(3) Consultation with U.S. shipbuilders
The council shall consult regularly with United States shipbuilders to obtain the essential information concerning international shipbuilding competition on which to set terms and conditions for loan guarantees under subsection (a)(2) of this section.
(4) Annual report
Not later than January 31 of each year (beginning in 1995), the Administrator shall submit to Congress a report on the activities of the Administrator under this section during the preceding year. Each report shall include documentation of sources of information on assistance provided by the governments of other nations to shipyards in those nations and a summary of recommendations made to the Administrator during the preceding year regarding applications submitted to the Administrator during that year for loan guarantees under this subchapter for construction of eligible export vessels.
 So in original. Probably should not be capitalized.
Another section 1111 of act June 29, 1936, was renumbered section
1113 and is classified to section
1279f of this Appendix.
2006—Subsec. (a). Pub. L. 109–163, § 3507(a)(2)(I), substituted “Administrator” for “Secretary” in introductory provisions and par. (2).
Subsec. (b)(1). Pub. L. 109–163, § 3507(b)(8), substituted “Administrator” for “Secretary of Transportation”.
Subsec. (b)(2)(B). Pub. L. 109–163, § 3507(a)(2)(I), substituted “Administrator” for “Secretary”.
Subsec. (b)(4). Pub. L. 109–163, § 3507(a)(2)(J), (b)(8), substituted “Administrator shall submit” for “Secretary of Transportation shall submit”, “activities of the Administrator” for “activities of the Secretary”, “recommendations made to the Administrator” for “recommendations made to the Secretary”, and “submitted to the Administrator” for “submitted to the Secretary”.
“(1) Initial designation of council members.—Each member of the council established under section 1111(b) of the Merchant Marine Act, 1936 [46 App. U.S.C. 1279d(b)], as added by subsection (a), shall name a designee for service on the council not later than 30 days after the date of the enactment of this Act [Nov. 30, 1993]. Each such member shall promptly notify the Secretary of Transportation of that designation.
“(2) Designation of senior marad official.—Not later than 30 days after the date of the enactment of this Act, the Secretary of Transportation shall designate a senior official within the Maritime Administration to have the responsibility and authority to carry out the terms and conditions set forth under section 1111 of title XI the Merchant Marine Act, 1936, as added by subsection (a). The Secretary shall make the designation of that official known through a public announcement in a national periodical.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, April 16, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.