Page:United States Statutes at Large Volume 107 Part 2.djvu/863

 1274. PUBLIC LAW 103-160—NOV. 30, 1993 107 STAT. 1813 tions for vessels documented under the laws of the United States operatingin the domestic or forei^ commerce of the United States. "(2) The Secretary may not issue commitments to guarantee obligations for eligible export vessels under this section after the later of— "(A) the 5th anniversary of the date on which the Secretary Sublishes final regulations setting forth the application proceures for the issuance of commitments to guarantee obligations for eligible export vessels, "(B) the last day of any 5-year period in which funding and guarantee authority for obligations for eligible export vessels have been continuously available, or "(C) the last date on which those commitments may be issued under any treaty or convention entered into after the date of the enactment of the National Shipbuilding and Shipyard Conversion Act of 1993 that prohibits guarantee of those obligations.". (3) AUTHORITY TO GUARANTEE OBLIGATIONS FOR ELIGIBLE EXPORT VESSELS.—Section 1104A is amended— 46_usc app. (A) by amending so much of subsection (a)(1) as precedes the proviso to read as follows: "(1) financing, including reimbursement of an obligor for expenditures previously made for, construction, reconstruction, or reconditioning of a vessel (including an eligible export vessel), which is designed principally for research, or for commercial use (A) in the coastwise or intercoastal trade; (B) on the Great Lakes, or on bays, sounds, rivers, harbors, or inland lakes of the United States; (C) in foreign trade as defined in section 905 of tihis Act for piuposes of title V of this Act; or (D) as an ocean thermal energy conversion facility or plantship; (E) with respect to floating drydocks in the construction, reconstruction, reconditioning, or repair of vessels; or (F) with respect to an eligible export vessel, in world-wide trade;"; (B) by amending subsection (b)(2)— u) by striking "subject to the provisions of paragraph (1) of subsection (c) of this section," and inserting subject to the provisions of subsection (c)(1) and subsection (i),", and (ii) by inserting before the semicolon at the end the following: ": Provided further, That in the case of an eligible export vessel, such obligations may be in an aggregate principal amount which does not exceed 87 Va of the actual cost or depreciated actual cost of the eligible export vessel"; (C) by amending subsection (b)(6) by inserting after "United States Coast Guard" the following: "or, in the case of an eligible export vessel, of the appropriate national flag authorities under a treaty, convention, or other international agreement to which the United States is a party"; (D) in subsection (d), by adding at the end the following new paragraph: "(3) No commitment to guarantee, or guarantee of an obligation may be made by the Secretary under this title for the construction, reconstruction, or reconditioning of an eligible export vessel unless— "(A) the Secretary finds that the construction, reconstruction, or reconditioning of that vessel will aid

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