Page:United States Statutes at Large Volume 106 Part 3.djvu/696

 106 STAT. 2490 PUBLIC LAW 102-484—OCT. 23, 1992 fiscal year 1994 may be used to enter into a contract for the construction, repair, or purchase of any product or service with any company that has headquarters in any country that continues to provide a subsidy to a foreign shipyard for the construction or repair of vessels or that engages in ship dumping practices. (2) Paragraph (1) shall not apply if the President— (A) notifies Congress that he is unable to submit the plan by the time required under subsection (c); and (B) includes with the notice a brief explanation of the reasons for the delay and a statement that the plan will be submitted by April 15, 1994. (h) DEFINITIONS. —For purposes of subsection (c): (1) The term "foreign shipyard" includes a ship construction or repair facility located in a foreign country that is directly or indirectly owned, controlled, managed, or financed by a foreign shipyard that receives or benefits from a subsidy. (2) The term "subsidy" includes any of the following: (A) Officially supported export credits and development assistance. (B) Direct official operating support to the commercial shipbuilding and repair industry, or to a related entity that favors the operation of shipbuilding and repair, including— (i) grants; (ii) loans and loan guarantees other than those available on the commercial market; (iii) forgiveness of debt; (iv) equity infusions on terms inconsistent with commercially reasonable investment practices; (v) preferential provision of goods and services; and (vi) public sector ownership of commercial shipyards on terms inconsistent with commercially reasonable investment practices. (C) Direct official support for investment in the commercial shipbuilding and repair industry, or to a related entity that favors the operation of shipbuilding and repair, including the kinds of support listed in clauses (i) through (v) of subparagraph (B), and any restructuring support, except public support for social purposes directly and effectively linked to snipyard closures. (D) Assistance in the form of grants, preferential loans, preferential tax treatment, or otherwise, that benefits or is directly related to shipbuilding and repair for purposes of research and development that is not equally open to domestic and foreign enterprises. (E) Tax policies and practices that favor the shipbuilding and repair industry, directly or indirectly, such as tax credits, deductions, exemptions and preferences, including accelerated depreciation, if the benefits are not generally available to persons or firms not engaged in snipbuilding or repair. (F) Any official regulation or practice that authorizes or encourages persons or firms engaged in shipbuilding or repair to enter into anticompetitive arrangements. (G) Any indirect support directly related, in law or in fact, to shipbuilding ana repair at national yards, includ-

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