H.R.4136 - Military Auxiliary Vessel Revolving Fund Act99th Congress (1985-1986)
|Sponsor:||Rep. Biaggi, Mario [D-NY-19] (Introduced 02/06/1986)|
|Committees:||House - Armed Services; Merchant Marine and Fisheries|
|Committee Reports:||H.Rept 99-795 Part 1|
|Latest Action:||House - 08/15/1986 Reported to House (Amended) by House Committee on Merchant Marine and Fisheries. Report No: 99-795 (Part I). (All Actions)|
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Summary: H.R.4136 — 99th Congress (1985-1986)All Information (Except Text)
(Reported to House from the Committee on Merchant Marine and Fisheries with amendment, H. Rept. 99-795 (Part I))
Reported to House amended, Part I (08/15/1986)
Military Auxiliary Vessel Revolving Fund Act - Directs the Secretary of the Navy to carry out a program for the construction and charter of militarily-useful merchant vessels which meet certain specified requirements pertaining to the military readiness and usefulness of such vessels. Outlines the authorized uses of such constructed vessels, including: (1) use in direct support of U.S. military forces; (2) the chartering of such vessels to U.S. citizens eligible to document a vessel for operation as a U.S.-flag ship, under specified conditions; and (3) use in the National Defense Reserve Fleet. Authorizes the Secretary to dispose of such vessels under certain conditions, including a congressional notice-and-wait period.
Authorizes the Secretary, in consultation with the Secretary of Transportation, and from amounts in the Revolving Fund established below, to acquire for purposes of the National Defense Reserve Fleet militarily-useful tanker vessels that have operating-differential subsidy (ODS) contracts with the United States.
Establishes in the Treasury, from certain sources, the Military Auxiliary Vessel Revolving Fund (the Fund) for use in the construction, acquisition, maintenance, and disposal of vessels under this Act. Terminates the Fund and transfers all vessels constructed under this Act to the National Defense Reserve Fleet if there exists in the Fund an amount insufficient to maintain vessels constructed under this Act. Requires the investment of all assets in the Fund not required for use by the Secretary.
Outlines certain conditions on the operation of vessels constructed under this Act, including: (1) that no such vessel may be chartered unless the operator agrees that each officer of the vessel be a member of the Naval Reserve; and (2) that no funds may be obligated for the construction or acquisition of a vessel under this Act until certain congressional notice-and-wait requirements have been met.
Directs the Secretary, in consultation with the Secretary of Transportation, to report biannually to the Congress concerning any further needs for military sealift capability.
Prohibits the Secretary from entering into a contract for the construction or acquisition of a vessel under this Act after September 30, 1991.
Provides for the initial capitalization of the Fund.