Maritime Appropriation Authorization Act for Fiscal Years 1990 and 1991

Maritime Appropriation Authorization Act for Fiscal Years 1990 and 1991 - Authorizes appropriations until expended, as the appropriation Act may provide, for the use of the Department of Transportation, for FY 1990 and 1991 for: (1) payment of operating-differential subsidy obligations; (2) operations and training activities; and (3) necessary expenses to acquire and maintain a surge shipping capability in the National Defense Reserve Fleet in an advanced state of readiness.

Changes from $100,000 to $400,000 the cap on payments for the maintenance and support of State maritime academies meeting certain requirements. Requires the academies, as a condition to receiving payments or the use of vessels, to require each U.S. citizen entering the academy in a merchant marine officer preparation program, as a condition for graduation, to: (1) pass the Coast Guard merchant marine officer license examination; and (2) agree to serve in a reserve unit of a U.S. armed force for at least six years. Terminates on March 30, 1990, the authority of the Secretary of Transportation to enter into State maritime academy student incentive payment agreements.

Extends from June 30, 1990, to June 30, 1995, the termination of the authority of the Secretary of Transportation to provide war risk insurance and reinsurance.

Provides that certain petitions filed before 1993 relating to bankruptcy and applications relating to protection of securities investors, when brought by the Secretary of Transportation or the Secretary of Commerce under the Ship Mortgage Act, 1920 do not, in certain circumstances, act as a stay of specified proceedings. (Current law refers to petitions and applications brought but not to petitions and applications to be brought.) Declares that the rights of either Secretary shall not be affected or enjoined by any court.

Amends the Merchant Ship Sales Act of 1946 to specify that any vessel assigned to the Ready Reserve Force component of the National Defense Reserve Fleet is included in specified provisions relating to prohibited and allowed uses of the Reserve Fleet.

Confirms the availability of a vessel in the Ready Reserve Force under specified provisions of the Memorandum of Agreement between the Department of Defense and the Department of Transportation, effective October 31, 1988.