Historical and Revision Notes |
|---|
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|
53703(a) | 46 App.:1274(n). | June 29, 1936, ch. 858, title XI, § 1104A(l), (n), as added Pub. L. 108–136, title XXXV, §§ 3523(b), 3525, Nov. 24, 2003, 117 Stat. 1800, 1801. |
53703(b) | 46 App.:1274(l). | |
Amendments
2019—[Pub. L. 116–92, § 3506(c)(1)], substituted “and administration” for “procedures” in section catchline.
Subsecs. (c), (d). [Pub. L. 116–92, § 3506(c)(2)], added subsecs. (c) and (d).
2008—[Pub. L. 110–181, § 3522(b)], repealed [Pub. L. 109–163, § 3507(a)(1)(D)], (2)(G), (b)(7). See 2006 Amendment note below.
[Pub. L. 110–181, § 3522(a)(10)(B)], incorporated the substance of the amendment by [Pub. L. 109–163, § 3507(a)(1)(D)], (2)(G), (b)(7), into this section by inserting “or Administrator” after “Secretary” wherever appearing. See 2006 Amendment note below and [section 18(a) of Pub. L. 109–304], set out as a Legislative Purpose and Construction note preceding section 101 of this title.
2006—[Pub. L. 109–163, § 3507(a)(1)(D)], (2)(G), (b)(7), which directed the amendment of section 1274(l), (n) of the former Appendix to this title from which this section was derived, was repealed by [Pub. L. 110–181, § 3522(b)]. See 2008 Amendment notes and Historical and Revision notes above.
Statutory Notes and Related Subsidiaries
Expedited Consideration of Low-Risk Applications
[Pub. L. 116–92, div. C, title XXXV, § 3506(j)], Dec. 20, 2019, [133 Stat. 1974], provided that:“(1)
In general.—
In accordance with the requirements of this subsection, the Administrator shall establish an administrative process and issue guidance for the expedited consideration of low-risk applications submitted under chapter 537 of title 46, United States Code.
“(2)
Stakeholder comment.—
Not later than 180 days after the date of enactment of this section [Dec. 20, 2019], the Administrator of the Maritime Administration shall publish in the Federal Register a notice of a 45-day public comment period to request stakeholder input and recommendations to establish the administrative process required under this subsection, including proposals to assist applicants—
“(A)
in the development and submission of initial applications;
“(B)
in meeting requests for supplemental information made by the Administrator; and
“(C)
to comply with other requirements made by the Administrator to ensure the expedited consideration of applications.
“(3)
Industry best practices.—
The administrative process established under this subsection shall utilize, to the extent practicable, relevant Federal and industry best practices found in the maritime and shipbuilding industries.
“(4)
Final guidance.—
Not later than 90 days after the conclusion of the public comment period required under paragraph (2), the Administrator shall publish in the Federal Register final guidance to assist applicants in the preparation and filing of applications under this subsection.”
Review of Applications for Loans and Guarantees
[Pub. L. 110–181, div. C, title XXXV, § 3517], Jan. 28, 2008, [122 Stat. 595], provided that:“(a)
Findings.—
The Congress makes the following findings:
“(1)
The maritime loan guarantee program was established by the Congress through the Merchant Marine Act, 1936 [see Short Title of 1936 Amendment note set out under
section 101 of this title] to encourage domestic shipbuilding by making available federally backed loan guarantees for new construction to ship owners and operators.
“(2)
The maritime loan guarantee program has a long and successful history of ship construction with a low historical default rate.
“(3)
The current process for review of applications for maritime loans in the Department of Transportation has effectively discontinued the program as envisioned by the Congress.
“(4)
The President has requested no funding for the loan guarantee program despite the stated national policy to foster the development and encourage the maintenance of a merchant marine in
section 50101 of title 46, United States Code.
“(5)
United States commercial shipyards were placed at a competitive disadvantage in the world shipbuilding market by government subsidized foreign commercial shipyards.
“(6)
The maritime loan guarantee program has the potential to modernize shipyards and the ships of the United States coastwise trade and restore a competitive position in the world shipbuilding market for United States shipyards.
“(7)
The maritime loan guarantee program is a useful tool to encourage domestic shipbuilding, preserving a vital industrial capacity critical to the security of the United States.
“(b)
Requirements.—
“(1)
In general.—
Within 180 days after the date of enactment of this Act [Jan. 28, 2008], the Administrator of the Maritime Administration shall develop and implement a comprehensive plan for the review of applications for loan guarantees under chapter 537 of title 46, United States Code.
“(2)
Deadline for action on application.—
“(A)
Traditional applications.—
In the comprehensive plan the Administrator will ensure that within the 90-day period following receipt of all pertinent documentation required for review of a traditional loan application, the application shall be either accepted or rejected.
“(B)
Nontraditional applications.—
In the comprehensive plan the Administrator will ensure that within the 180-day period following receipt of all pertinent documentation required for review of a nontraditional loan application, the application shall be either accepted or rejected.
“(c)
Submission to Congress.—
The Administrator shall submit a copy of the comprehensive plan to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Armed Services of the House of Representatives within 180 days after the date of enactment of this Act [Jan. 28, 2008].
“(d)
Definitions.—
In this section:
“(1)
Traditional application.—
The term ‘traditional application’ means an application for a loan, guarantee, or commitment to guarantee submitted pursuant to chapter 537 of title 46, United States Code, that involves a market, technology, and financial structure of a type that has proven successful in previous applications and does not present an unreasonable risk to the United States, as determined by the Administrator of the Maritime Administration.
“(2)
Nontraditional application.—
The term ‘nontraditional application’ means an application for a loan, guarantee, or commitment to guarantee submitted pursuant to chapter 537 of title 46, United States Code, that is not a traditional application, as determined by the Administrator of the Maritime Administration.”