Sec. 4004. Program eligibility for vessels
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Subtitle B of title I of the Energy Independence and Security Act of 2007 ( 42 U.S.C. 17011 et seq. ) is amended by adding at the end the following: In this section, the term vessel means a vessel (as defined in section 3 of title 1, United States Code), whether in existence or under construction, that has been issued a certificate of documentation as a United States flagged vessel under chapter 121 of title 46, United States Code and that meets the standards established under section 4005(a) of the Energy Policy Modernization Act of 2016 . Subject to the terms and conditions of subsections
(d)and
(f)of section 136, projects for the reequipping, expanding, or establishing of a manufacturing facility in the United States to produce vessels shall be considered eligible for direct loans under section 136(d). None of the projects made eligible under this section shall be eligible to receive any credit subsidy provided under section 136 before the date of enactment of this section. The authority under this section to incur indebtedness, or enter into contracts, obligating amounts to be expended by the Federal Government shall be effective for any fiscal year only— to such extent or in such amounts as are provided in advance by appropriation Acts; and if the borrower has agreed to pay a reasonable percentage of the cost of the obligation; or if the Secretary has received from the borrower a payment in full for the cost of the obligation and deposited the payment into the Treasury. .
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Sec. 4004
Program eligibility for vessels
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