2020 US Code
Title 46 - Shipping
Subtitle V - Merchant Marine
Part C - Financial Assistance Programs
Chapter 534 - Tanker Security Fleet
Sec. 53412 - Acquisition of Fleet vessels
| 46 U.S.C. § 53412 (2020) |
| §53412. Acquisition of Fleet vessels |
|
(a) In General.—Upon replacement of a Fleet vessel under an operating agreement under this chapter, and subject to agreement by the program participant of the vessel, the Secretary of Transportation is authorized, subject to the concurrence of the Secretary of Defense, acquire the vessel being replaced for inclusion in the National Defense Reserve Fleet. (b) Requirements.—To be eligible for acquisition by the Secretary of Transportation under this section a vessel shall— (1) have been covered by an operating agreement under this chapter for not less than 3 years; and (2) meet recapitalization requirements for the Ready Reserve Force. (c) Fair Market Value.—A fair market value shall be established by the Maritime Administration for acquisition of an eligible vessel under this section. (d) Appropriations.—Vessel acquisitions under this section shall be subject to the availability of appropriations. Amounts made available to carry out this section shall be derived from amounts authorized to be appropriated for the National Defense Reserve Fleet. Amounts authorized to be appropriated to carry out the Maritime Security Program may not be use to carry out this section. |
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(Added Pub. L. 116–283, div. C, title XXXV, §3511(a), Jan. 1, 2021, 134 Stat. 4418.) |
| STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE
Section effective upon completion and submission to Congress of report on United States-flagged fuel tanker vessel capacity and upon publication of certification related to program for United States-flagged fuel tanker vessels, see section 3511(d) of Pub. L. 116–283, set out as a note under section 53401 of this title. |
| United States Code, 2018 Edition, Supplement 2, Title 46 - SHIPPING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 46 - SHIPPING Subtitle V - Merchant Marine Part C - Financial Assistance Programs CHAPTER 534 - TANKER SECURITY FLEET Sec. 53412 - Acquisition of Fleet vessels |
| section 53412 |
| 2020 |
| January 13, 2021 |
| Yes |
| standard |
| 134 Stat. 4418 |
| Public Law 116-283 |
