CVN–77 NUCLEAR AIRCRAFT CARRIER PROGRAM.

SEC. 122. CVN–77 NUCLEAR AIRCRAFT CARRIER PROGRAM. (a) Authorization of Ship.—The Secretary of the Navy is authorized to procure the aircraft carrier to be designated CVN–77, subject to the availability of appropriations for that purpose. (b) Amount Authorized From SCN Account.—Of the amount authorized to be appropriated by section 102(a)(3) for fiscal year 1998, $50,000,000 is available for the advance procurement and advance construction of components (including nuclear components) for the CVN–77 aircraft carrier program. The Secretary of the Navy may enter into a contract or contracts with the shipbuilder and other entities for the advance procurement and advance construction of those components. (c) Other Funds.—Of the funds authorized to be appropriated under this Act for programs, projects, and activities of the military departments and Defense Agencies, other than the CVN–77 aircraft carrier program, up to $295,000,000 may be made available, as the Secretary of Defense may direct, for the CVN–77 aircraft carrier program. Authority to make transfers under this subsection is in addition to the transfer authority provided in section 1001. (d) Management of Funds.—The Secretary of the Navy shall obligate and expend the funds available for advance procurement and advance construction of components for the CVN–77 aircraft carrier program for fiscal year 1998 in a manner that is designed 111 STAT. 1650to result in such cost savings as may be required in order to meet the cost limitation specified in subsection (f). (e) Adjustments to Future-Years Defense Program.—The Secretary of Defense shall make such plans for the CVN–77 aircraft carrier program as are necessary to attain for the program the cost savings that are contemplated for the procurement of the CVN–77 aircraft carrier in the March 1997 procurement plan. (f) Limitation on Total Cost of Procurement.—(1) The Secretary of the Navy shall structure the program for the procurement of the CVN–77 aircraft carrier, and shall manage that program, so that the total cost of the procurement of the CVN–77 aircraft carrier does not exceed $4,600,000,000 (such amount being the estimated cost for the procurement of the CVN–77 aircraft carrier in the March 1997 procurement plan). (2) The Secretary of the Navy may adjust the amount set forth in paragraph (1) for the CVN–77 aircraft carrier program by the following: (A) The amounts of outfitting costs and post-delivery costs incurred for the program. (B) The amounts of increases or decreases in costs attributable to economic inflation after September 30, 1997. (C) The amounts of increases or decreases in costs attributable to compliance with changes in Federal, State, or local laws enacted after September 30, 1997. (D) The amounts of increases or decreases in costs of the program that are attributable to new technology built into the CVN–77 aircraft carrier, as compared to the technology built into the baseline design of the CVN–76 aircraft carrier. (E) The amounts of increases or decreases in costs resulting from changes the Secretary proposes in the funding plan (as contemplated in the March 1997 procurement plan) on which the projected savings are based. (3) The Secretary of the Navy shall annually submit to Congress, at the same time as the budget is submitted under section 1105(a) of title 31, United States Code, written notice of any change in the amount set forth in paragraph (1) during the preceding fiscal year that the Secretary has determined to be associated with a cost referred to in paragraph (2). (g) March 1997 Procurement Plan Defined.—In this section, the term “March 1997 procurement plan” means the procurement plan for the CVN–77 aircraft carrier that was submitted to the Navy and Congress by the shipbuilder in March 1997.