For the purpose of facilitating implementation of section 55305 of title 46, funds made available for the purposes of part I of subchapter I of this chapter or for purposes of part IV of subchapter II of this chapter may be used to make grants to recipients to pay all or any portion of such differential as is determined by the Secretary of Commerce to exist between United States and foreign-flag vessel charter or freight rates. Grants made under this section shall be paid with United States-owned foreign currencies wherever feasible.
(Pub. L. 87–195, pt. III, § 640C, as added Pub. L. 93–189, § 21, Dec. 17, 1973, 87 Stat. 726; amended Pub. L. 96–533, title VII, § 708, Dec. 16, 1980, 94 Stat. 3159.)
Editorial Notes
Codification
In text, “section 55305 of title 46” substituted for “section 901(b) of the Merchant Marine Act, 1936 (46 U.S.C. 1241(b))” on authority of Pub. L. 109–304, § 18(c), Oct. 6, 2006, 120 Stat. 1709, which Act enacted section 55305 of Title 46, Shipping.
Amendments1980—Pub. L. 96–533 substituted “part IV of subchapter II of this chapter” for “subchapter IV of this chapter”.
Statutory Notes and Related Subsidiaries
References to Part I Deemed To Include Section 2293References to part I of subchapter I of this chapter are deemed to include a reference to section 2293 of this title. See section 2293(d)(1) of this title.
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