Sec. 509. Reports
455 words·~2 min read·
/bill/119/s/1541/is/section-509·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of enactment of this Act, and every 2 years thereafter, the Maritime Administrator, in consultation with the Commander of the United States Transportation Command and the Secretary of the Navy, and in accordance with paragraph (2), shall submit to the appropriate committees of Congress and the Maritime Security Board a report— outlining a plan for using the shipbuilding financial incentives program authorized under section 53801 of title 46, United States Code, as added by section 501, and the financial incentive programs under subpart C of subtitle V of title 46, United States Code, to supplement the size and readiness of the National Defense Reserve Fleet and to improve national shipbuilding and shipping infrastructure; and describing ways in which an expanded and creative view of the make-up of vessels with Voluntary Intermodal Sealift Agreements or Voluntary Tanker Agreements and the shipbuilding financial incentives program authorized under such section can be used to ensure government access to other vessels that are critical to national security, such as icebreakers, oil and natural gas tankers, floating dry docks, salvage vessels, dredges, ocean tugs, offshore construction vessels, multi-use workboats, and commercial shipping vessels using small nuclear reactors.
In preparing the report under paragraph (1), the Maritime Administrator shall also consult with the Secretary of Commerce and the Secretary of Energy with respect to shipping vessels or mobile maritime power plants using small nuclear reactors. Not later than 180 days after the date of enactment of this Act, and every 2 years thereafter, the Secretary of Defense and the Secretary of Homeland Security, in coordination with the Secretaries of Treasury and State, the Maritime Administrator, the United States Trade Representative, and the Director of the Office of Management and Budget, shall submit to the appropriate committees of Congress and the Maritime Security Board a report outlining a comprehensive strategy for de-risking the United States maritime domain from the People’s Republic of China and other asymmetric or emerging maritime threats.
Not later than 180 days after the date of enactment of this Act, the Secretary of Transportation, the Secretary of Defense, the Secretary of Commerce, the Secretary of State, and the Secretary of the Treasury shall submit to the appropriate committees of Congress and the Maritime Security Board a report on ways and means for restricting the flow of capital from the United States to Chinese Communist Party maritime industries, which shall include recommendations for promoting the flow of capital within and between the United States and treaty allies of the United States.
The report shall also include a survey of banks, pension funds, and large financial institutions, with recommendations for ways the United States can incentivize domestic financial investments in the maritime industry.