AUTHORITY TO CONVEY NATIONAL DEFENSE RESERVE FLEET VESSELS.

SEC. 427. AUTHORITY TO CONVEY NATIONAL DEFENSE RESERVE FLEET VESSELS. (a) Authority To Convey.— Notwithstanding any other law, the Secretary of Transportation (referred to in this section as “the Secretary”) may convey all right, title, and interest of the Federal Government in and to either or both of the vessels S.S. AMERICAN VICTORY (United States official number 248005) and S.S. HATTIESBURG VICTORY (United States official number 248651) to The Victory Ship, Inc., located in Tampa, Florida (in this section 112 STAT. 3442referred to as the “recipient”), and the recipient may use each vessel conveyed only as a memorial to the Victory class of ships. (b) Terms of Conveyance.— (1) Delivery of vessel.— In carrying out subsection (a), the Secretary shall deliver a vessel— (A) at the place where the vessel is located on the date of conveyance; (B) in its condition on that date; and (C) at no cost to the Federal Government. (2) Required conditions.— The Secretary may not convey a vessel under this section unless— (A) the recipient agrees to hold the Government harmless for any claims arising from exposure to hazardous material, including asbestos and polychlorinated biphenyls, after conveyance of the vessel, except for claims arising before the date of the conveyance or from use of the vessel by the Government after that date; and (B) the recipient has available, for use to restore the vessel, in the form of cash, liquid assets, or a written loan commitment, financial resources of at least $100,000. (3) Additional terms.— The Secretary may require such additional terms in connection with the conveyance authorized by this section as the Secretary considers appropriate. (c) Other Unneeded Equipment.— The Secretary may convey to the recipient of any vessel conveyed under this section any unneeded equipment from other vessels in the National Defense Reserve Fleet, for use to restore the vessel conveyed under this section to museum quality.