A bill to authorize the establishment of a Military Auxiliary Revolving Fund within the Treasury of the United States, and for other purposes.
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.
Became Public Law No: 99-348.
Subcommittee on Merchant Marine. Hearings held.
Introduced in House
Referred to House Committee on Armed Services.
Referred to House Committee on Merchant Marine and Fisheries.
Executive Comment Requested from Treasury, Navy, DOD, DOT.
Referred to Subcommittee on Merchant Marine.
Executive Comment Requested from DOD.
Referred to Subcommittee on Seapower and Strategic and Critical Materials.
Subcommittee Hearings Held.
Subcommittee Hearings Held.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee (Amended).
Subcommittee Consideration and Mark-up Session Held.
Subcommittee Consideration and Mark-up Session Held.
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See H.R.4420.
Unfavorable Executive Comment Received From Navy.
Unfavorable Executive Comment Received From Navy.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended).
Reported to House (Amended) by House Committee on Merchant Marine and Fisheries. Report No: 99-795 (Part I).
Reported to House (Amended) by House Committee on Merchant Marine and Fisheries. Report No: 99-795 (Part I).