Page:United States Statutes at Large Volume 110 Part 4.djvu/231

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009 -68 machine, manufacture, or composition of matter or the provision of pharmacy or clinical laboratory services (other than clinical laboratory services provided in a physician's office), where such activities are: (A) directly related to the commercial development, manufacture, sale, importation, or distribution of a machine, manufacture, or composition of matter or the provision of pharmacy or clinical laboratory services (other than clinical laboratory services provided in a physician's office), and (B) regulated under the Federal Food, Drug, and Cosmetic Act, the Public Health Service Act, or the Clinical Laboratories Improvement Act. (4) This subsection shall not apply to any patent issued before the date of enactment of this subsection. SEC. 617, Effective with the enactment of this Act and in any fiscal year hereafter, section 8 of Public Law 96-132 is hereby repealed. SEC. 618. (a) IN GENERAL. —The Secretary may issue a guaran- 46 USC app. tee or a commitment to guarantee obligations under title XI of 1273 note, the Merchant Marine Act, 1936 (46 App. U.S.C. 1271 et seq.), upon such terms as the Secretary may prescribe, to assist in the reactivation and modernization of any shipyard in the United States that is closed on the date of the enactment of this Act, if the Secretary finds that— (1) the closed shipyard historically built military vessels and responsible entities now seek to reopen it as an internationaly competitive commercial shipyard; (2)(A) the closed shipyard has been designated by the President as a public-private partnership project; or (B) has a reuse plan approved by the Navy in which commercial shipbuilding and repair are primary activities and has a revolving economic conversion fund approved by the Department of Defense; and (3) the State in which the shipyard is located, and each other involved State, or a State-chartered agency, is making a significant financial investment in the overall cost of reactivation and modernization as its contribution to the reactivation and modernization project, in addition to the funds required by subsection (d)(2) of this section. (b) WAIVERS. — Notwithstanding any other provision of title XI of the Merchant Marine Act, 1936 (46 App. U.S.C. 1271 et seq.), the Secretary shall not apply the requirements of section 1104A(d) of that Act when issuing a guarantee or a commitment to guarantee an obligation under this section. (c) CONDITIONS.—The Secretary shall impose such conditions on the issuance of a guarantee or a commitment to guarantee under this section as are necessary to protect the interests of the United States from the risk of a default. The Secretary shall consider the interdependency of such shipyard modernization and reactivation projects and related vessel loan guarantee requests pending under title XI of the Merchant Marine Act, 1936 (46 App. U.S.C. 1271 et seq.) before issuing a guarantee or a commitment to guarantee under this section. (d) FUNDING PROVISIONS.— (1) The Secretary may not guarantee or commit to guarantee obligations under this section that exceed $50,000,000 in the aggregate.

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