46 U.S.C. § 53412 — Acquisition of Fleet vessels
submitted 5 years ago by Pub. L. 116-283 to r/title-46-SHIPPING · 187 words · no verdicts yet
When a Fleet vessel is replaced, the Secretary of Transportation may buy the old vessel for the National Defense Reserve Fleet, with agreement from the participant and the Secretary of Defense. The vessel must have served at least 3 years and meet Ready Reserve Force standards. Funding must come from Reserve Fleet money, not the Maritime Security Program.
(a) In General. When a Fleet vessel* under an operating agreement gets replaced, and if the participant agrees, the Secretary* of Transportation may acquire the replaced vessel for the National Defense Reserve Fleet. The Secretary of Defense must first agree.
(b) Requirements. To be acquired this way, a vessel must: (1) have been covered by an operating agreement for at least 3 years; and (2) meet the Ready Reserve Force's recapitalization requirements.
(c) Fair Market Value. The Maritime Administration sets a fair market value for buying an eligible vessel.
(d) Appropriations. Buying vessels under this section depends on Congress providing money. That money must come from funds authorized for the National Defense Reserve Fleet. Money authorized for the Maritime Security Program can't be used for this purpose.
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.
To be eligible for acquisition by the Secretary of Transportation under this section a vessel shall—
have been covered by an operating agreement under this chapter for not less than 3 years; and
meet recapitalization requirements for the Ready Reserve Force.
A fair market value shall be established by the Maritime Administration for acquisition of an eligible vessel under this section.
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.
Source credit: (Added Pub. L. 116–283, div. C, title XXXV, § 3511(a), Jan. 1, 2021, 134 Stat. 4418.)
- 2021Enacted · Pub. L. 116-283 · 134 Stat. 4418
A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-283 on 2021-01-01.
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