Sec. 3507. USE OF NATIONAL DEFENSE RESERVE FLEET SCRAPPING PROCEEDS

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## SEC. 3507 USE OF NATIONAL DEFENSE RESERVE FLEET SCRAPPING PROCEEDS ###

(a)Funding Allocation Section 308704 of title 54, United States Code, is amended— ####

(1)in subsection (a)(1), by amending subparagraph

(C)to read as follows: > > ##### “(C) > > The remainder shall be available to the Secretary to carry out the Program, as provided in subsection (b).” > ; and ####

(2)in subsection (b), by amending paragraph

(1)to read as follows: > > #### “(1) Allocation > > > ##### “(A) In general > > Except as provided in subparagraph

(B)and paragraph (2), of the amounts available each fiscal year for the Program under subsection (a)(1)(C)— > > > ###### “(i) > > 50 percent shall be used for grants under section 308703(b); and > > > ###### “(ii) > > 50 percent shall be used for grants under section 308703(c). > > > ##### “(B) Set aside > > > ###### “(i) In general > > Not less than 25 percent of the amounts available each fiscal year for the Program under subsection (a)(1)(C) shall be used for the preservation and presentation to the public of the maritime heritage property of the Maritime Administration. > > > ###### “(ii) Direct transfers > > The Secretary may provide amounts used for the preservation and presentation to the public of the maritime heritage property of the Maritime Administration through direct transfers to the Maritime Administration. > > > ###### “(iii) Waiver > > The Maritime Administrator may waive the application of clause

(i)for any fiscal year.” > . ###

(b)Conforming Amendment Section 308703(c)(1) of title 54, United States Code, is amended by striking “under section 308704(b)(1)(B)” and inserting “under section 308704(b)(1)(A)”. ###

(c)Reporting Requirement Section 308703(j) of title 54, United States Code, is amended— ####

(1)in the matter preceding paragraph (1), by striking “Congress” and inserting “the Committee on Commerce, Science, and Transportation of the Senate, the Committee on Energy and Natural Resources of the Senate, the Committee on Natural Resources of the House of Representatives, the Committee on Armed Services of the House of Representatives, and the Committee on Transportation and Infrastructure of the House of Representatives”; ####

(2)by redesignating paragraphs (1), (2), and

(3)as paragraphs (2), (3), and (4), respectively; ####

(3)by inserting before paragraph (2), as redesignated, the following: > > #### “(1) > > the total number of grant applications submitted and approved under the Program in the period covered by the report;” > ; and ####

(4)in paragraph (2), as redesignated, by inserting “detailed” before “description”. ###

(d)Annual Report by the Maritime Administration ####

(1)In general Not later than January 1 of each year, the Maritime Administrator shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Armed Services and the Committee on Transportation and Infrastructure of the House of Representatives a report on the management of the Ship Disposal program of the Maritime Administration. ####

(2)Contents Each report under paragraph

(1)shall include— #####

(A)the total amount of funds, attributable to the Ship Disposal program of the Maritime Administration, credited in the most recently completed fiscal year to— ######

(i)the Vessel Operations Revolving Fund established by section 50301(a) of title 46, United States Code; and ######

(ii)any other account; #####

(B)the balance of funds available at the end of that fiscal year in— ######

(i)the Vessel Operations Revolving Fund; and ######

(ii)any other account for which a credited amount was included under subparagraph (A)(ii); #####

(C)a detailed description of the funds credited to and distributions from the Vessel Operations Revolving Fund in that fiscal year; and #####

(D)a summary of each maritime heritage project selected by the Maritime Administrator, for preservation and presentation to the public of the Maritime Administration’s maritime heritage property, for which funds from the Vessel Operations Revolving Fund were expended in that fiscal year. ###

(e)Assessments by the Maritime Administration ####

(1)In general Not later than 1 year after the date of the enactment of this Act, and biennially thereafter, the Maritime Administrator shall complete an assessment of the Ship Disposal program of the Maritime Administration. ####

(2)Contents Each assessment under paragraph

(1)shall include— #####

(A)an inventory of each vessel, subject to a disposal agreement or a memorandum of agreement with another Federal agency relating to the disposal of the vessel, for which the Maritime Administration is acting as the disposal agency, including— ######

(i)the age of the vessel; and ######

(ii)the name of the Federal agency that has or had custody over the vessel prior to any disposal agreement or memorandum of agreement with the Maritime Administration; #####

(B)an inventory of each vessel of a Federal agency that may meet the criteria for the Maritime Administration to act as the disposal agency, including— ######

(i)the age of the vessel; ######

(ii)the name of the applicable Federal agency; and ######

(iii)whether the vessel is expected to be declared obsolete and dismantled in the next 5 years; #####

(C)a plan to serve as the disposal agency, as appropriate, for the vessels described in subparagraph (B); #####

(D)a plan for the timely distribution of the proceeds that the Maritime Administration currently has in ship disposal accounts; #####

(E)a projection of future distributions of such proceeds; and #####

(F)any other assessment related to the Ship Disposal program that the Maritime Administrator determines appropriate. ####

(3)Inclusion in the annual report A detailed description of the results of each assessment under paragraph

(1)shall be included in the annual report under subsection

(d)for the year in which the assessment was completed. ###

(f)Cessation of Effectiveness Subsections

(d)and

(e)of this section shall cease to be effective on the date that is 5 years and 1 day after the date of the enactment of this Act.