,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gcej  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #d1 #bjbf,mr4
 ,begi* 7= himself & ,mr4 ,l>s5 (       
,wa%+ton7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,arm$        
,s]vices  ,a ,,bill  ,to am5d title #df1
 ,unit$ ,/ates ,code1 to make *anges )  
respect to direct loans by ! ,dep>tm5t (
 ,transportation & ! ,m>itime           
,adm9i/ration = f9anc+ ( fi%+ vessels1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,fi%+ ,vessel      
,f9anc+ ,improvem5t ,act ( #bjbf4  #b4  
,f9anc+ ( fi%+ vessels  7a7 ,def9itions 
,section #ecgja ( title #df1 ,unit$     
,/ates ,code1 is am5d$-- 7#a7 by        
r$esignat+ p>agraphs 7#e7 ?r\gh 7#ae7 z 
p>agraphs 7#f7 ?r\gh 7#af71             
respectively2  7#b7 by ins]t+ aft]      
p>agraph 7#d7 ! foll[+3  7#e7 ,fi%+ ,!  
t]m fi%+ has ! mean+ giv5 su* t]m 9     
section #c ( ! ,magnuson-,/ev5s ,fi%]y  
,cons]vation & ,managem5t ,act 7#af     
,u4,s4,c4 #ahjb74  2 &  7#c7 9 p>agraph 

7#ad71 z s r$esignat$1 by ins]t+ us$    
be=e fi%+ vessels4  7b7 ,direct loans   
,section #ecgjb7;b7 ( title #df1 ,unit$ 
,/ates ,code1 is am5d$-- 7#a7 9 !       
subsection head+ by /rik+ ,direct loans 
= fi%]ies & ins]t+ ,direct loans2  7#b7 
9 p>agraph 7#a7 by ins]t+ us$ be=e fi%+ 
vessel2 &  7#c7 9 p>agraph 7#d7 by /rik+
 ! purpose ( & all t foll[s ?r\gh f9anc+
 ! pur*ase & ins]t+ ! purpose ( f9anc+ !
 pur*ase4  7c7 ,fund+ limits ,section   
#ecgjd7;a7 ( title #df1 ,unit$ ,/ates   
,code1 is am5d$ by /rik+ obligations    
relat$ to fi%+ vessels & fi%]y          
facilities & ins]t+ obligations by !    
,secret>y relat$ to fi%+ facilities1 &  
us$ fi%+ vessels4  7d7 ,eligible        
purposes ( obligations ,section         
#ecgjf7;a77#a77;,a7 ( title #df1 ,unit$ 
,/ates ,code1 is am5d$-- 7#a7 9 clause  
7iv7 by /rik+ ! second or2  7#b7 9      
clause 7v7 by /rik+ ! p]iod & ins]t+ 2  
or2 &  7#c7 by add+ at ! end ! foll[+3  
7vi7 9 ! fi%+ indu/ry or seafood relat$ 
trade4  4  7e7 ,f9d+s relat$ to obligors

 & op]ators ,section #ecgjg7;c7 ( title 
#df1 ,unit$ ,/ates ,code1 is am5d$ by   
ins]t+ or ,adm9i/rator aft] ,secret>y4  
7f7 ,f9d+s relat$ to economic s\ndness  
,section #ecgjh ( title #df1 ,unit$     
,/ates ,code1 is am5d$ by add+ at ! end 
! foll[+3  7f7 ,limitation ,!           
,adm9i/rator may n gu>antee or make a   
commitm5t to gu>antee an obligation "u  
?is *apt] if ! ,secret>y det]m9es su*   
gu>antee or commitm5t is inconsi/5t ) ! 
wise use ( ! fi%]ies res\rces & !       
developm5t1 advancem5t1 managem5t1      
cons]vation1 & protection ( ! fi%]ies   
res\rces consi/5t ) ! ,magnuson ,/ev5s  
,fi%]y ,cons]vation & ,managem5t ,act   
7#af ,u4,s4,c4 #ahja et seq474  4  7g7  
,am\nt ( obligations ,section #ecgji (  
title #df1 ,unit$ ,/ates ,code1 is      
am5d$-- 7#a7 9 subsection 7b77#c7-- 7,a7
 by /rik+ ,= a fi%+ vessel or fi%]y     
facility & ins]t+ ! foll[+3  7,a7 ,9    
g5]al ,= a us$ fi%+ vessel or fi%]y     
facility  2 &  7,b7 by add+ at ! end !  
foll[+3  7,b7 ,increas$ limitation ,= a 

fi%+ vessel = :i* ! ,adm9i/rator        
gu>antees an obligation1 ! pr9cipal     
am\nt may n exce$ #hg4e p]c5t ( ! actual
 co/ or depreciat$ co/4  2 &  7#b7 9    
subsection 7e7 by ins]t+ or ,adm9i/rator
 aft] ,secret>y4  7h7 ,replacem5t (     
vessels because ( *anges 9 op]at+ /&>ds 
,section #ecgcd ( title #df1 ,unit$     
,/ates ,code1 is am5d$-- 7#a7 9         
subsection 7a77#a7 by ins]t+ fi%+1 or   
o!r seafood relat$1 be=e coa/wise1      
int]coa/al1 or =eign trade2  7#b7 9     
subsection 7b77#b7 by /rik+ con/ruction 
or recon/ruction ( ! vessel & ins]t+    
con/ruction or ref9anc+ & recon/ruction 
( ! vessel2 &  7#c7 by add+ at ! end !  
foll[+3  7f7 ,applicability ,gu>antees  
made "u subsection 7a7 = ! con/ruction  
or ref9anc+ & recon/ruction ( a vessel  
design$ & to be us$ 9 fi%+ or seafood   
relat$ trade %all be made only ) funds1 
includ+ funds = ! co/ ( gu>ante$ loans1 
appropriat$ on or aft] ! date ( enactm5t
 ( ! ,national ,def5se ,au?orization    
,act = ,fiscal ,ye> #bjbf4  4  7i7      

,eligibility ,not)/&+ any requirem5ts t 
su* vessel be recon/ruct$1 recondition$1
 or repair$ to qualify = a gu>antee ( an
 obligation1 = a p]iod ( #b ye>s aft] ! 
date ( enactm5t ( ?is ,act1 a fi%+      
vessel great] ?an #gi feet ov]all 9 l5g?
 built & docum5t$ aft] ,janu>y #a1      
#bjba1 %all be eligible = a gu>antee (  
an obligation f ! ,adm9i/rator "u *apt] 
#ecg ( title #df1 ,unit$ ,/ates ,code4  
7j7 ,sav+s clause ,no?+ 9 ?is section1  
or ! am5dm5ts made by ?is section1 %all 
limit ! au?ority ( ! ,secret>y (        
,comm]ce to provide direct loan         
obligations au?oriz$ by section #baa7;e7
 ( ! ,am]ican ,fi%]ies ,act 7,public    
,law #aje-bgg74