A bill to authorize appropriations for the fiscal year 1975 for certain maritime programs of the Department of Commerce.

(LATEST SUMMARY)

Authorizes appropriations for fiscal year 1975 for the following programs of the Department of Commerce: (1) $275,000,000 for shipbuilding or acquisition; (2) $242,800,000 for payment of obligations incurred for ship operating-differential subsidy; (3) $27,900,000 for expenses necessary for research and development activities; (4) $3,742,000 for reserve fleet expenses; (5) $10,518,000 for maritime training at the Merchant Marine Academy; and (6) $2,973,000 for financial assistance to State Marine Schools.

Authorizes additional appropriations for the above programs for fiscal year 1975 as may be necessary for increases in salary, pay, retirement, or other employee benefits authorized by law.

Requires the establishment, within the Maritime Administration, of such regional offices as may be necessary, including one such office for each of the Atlantic, Gulf, Great Lakes and Pacific port ranges.

Establishes a special loan program to provide for the payment of compensation to United States shipowners and operators whose vessels or gear are damaged by the actions of foreign vessels on the United States Continental Shelf. Provides that the fisheries loan fund established under the Fisheries and Wildlife Act of 1956 will be the source of the funds for such program. States that this provision shall apply with respect to uncompensated damage to or destruction of any vessel or the gear of such vessel occurring: (1) during the period from January 1, 1972, through the date of enactment of this subsection, if an application for a claim for such damage or destruction has been filed with the Federal Government during such period; and (2) during the period from the day after the date of enactment of this subsection through March 15, 1976.