46a USC Rule - Loan guarantees for eligible export vessels

(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, ^[1] 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.

[1] So in original. Probably should not be capitalized.

Source

(June 29, 1936, ch. 858, title XI, § 1111, as added Pub. L. 103–160, div. A, title XIII, § 1355(a),Nov. 30, 1993, 107 Stat. 1811; amended Pub. L. 109–163, div. C, title XXXV, § 3507(a)(2)(I), (J), (b)(8),Jan. 6, 2006, 119 Stat. 3555, 3556.)

Prior Provisions

Another section 1111 of act June 29, 1936, was renumbered section 1113 and is classified to section 1279f of this Appendix.

Amendments

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”.

Interagency Council Designees

Section 1355(b) ofPub. L. 103–160provided that:

“(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.

How To Use

Multiple entries for a section are listed most recent first, within the section.

The Session Year indicates which session of Congress was responsible for the changes classified. The Congress number forms the first part of the Public Law number; each Congress has two sessions.

Abbreviations used in the Description of Change column:

An empty field implies a standard amendment.
"new" means a new section or new note, or all new text of an existing section or note.
"nt" means note.
"nt [tbl]" means note [table].
"prec" means preceding.
"fr" means a transfer from another section.
"to" means a transfer to another section.
"omitted" means the section is omitted.
"repealed" means the section is repealed.
"nt ed change" and "ed change" - See the Editorial Classification Change Table [pdf].

The Public Law field is linked to the development of the law in the Thomas system at the Library of Congress.

The Statutes at Large field is linked to the text of the law, in the context of its volume of the Statutes at Large, at the Government Printing Office. Please note that it takes a while for these pages to get posted, so for very recent legislation, you need to look at the "enrolled" version at the Thomas site.

The Statutes at Large references have been rendered in the format used as page numbers in the Public Law web pages to which we link, to facilitate copy-paste into browser "find on this (web) page" tools. We are still working on a more direct link facility.

For serious comparison work, we suggest copying all or a portion of the Public Law text into your favorite text editor, for convenient content traversal and window control.

Sections with change type "new" are a special case, still under development. All are now listed, at the title level only.

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General Reference

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Refer to the Thomas site for changes that have not yet made it into the classification tables.

46a USC	Description of Change	Session Year	Public Law	Statutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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46a USC Rule - Loan guarantees for eligible export vessels

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