MARITIME LOAN GUARANTEE PROGRAM.

SEC. 3504. MARITIME LOAN GUARANTEE PROGRAM. The Congress finds that—(1) it is in the national security interest of the United States to foster commercial shipbuilding in the United States;(2) the maritime loan guarantee program authorized by chapter 537 or title 46, United States Code, has a long and successful history of facilitating construction of commercial vessels in domestic shipyards;123 STAT. 2720(3) the Maritime Loan Guarantee Program strengthens our Nation’s industrial base by allowing domestic shipyards and their allied service and supply industries to more effectively produce commercial vessels that enhance the commercial sealift capability of the Department of Defense; and(4) a revitalized and effective Maritime Loan Guarantee Program would result in construction of a more modern and larger fleet of commercial vessels manned by United States citizens, thereby providing a pool of trained United States citizen mariners available to assist the Department of Defense in times of war or national emergency.