DISCRETION IN PRESCRIBING SUBMARINE DUTY INCENTIVE PAY RATES.

SEC. 617. SECRETARIAL DISCRETION IN PRESCRIBING SUBMARINE DUTY INCENTIVE PAY RATES. (a) Authority of Secretary of the Navy; Maximum Rate.—Subsection (b) of section 301c of title 37, United States Code, is amended to read as follows: “(b) Monthly Rates.—The Secretary of the Navy shall prescribe the monthly rates of submarine duty incentive pay, except that the maximum monthly rate may not exceed $1,000.”. (b) Conforming and Clerical Amendments.—Such section is further amended— (1) in subsection (a)— (A) by inserting “Eligibility Requirements.—” after “(a)”; and (B) by striking “set forth in” each place it appears and inserting “prescribed pursuant to”; (2) in subsection (c), by inserting “Exceptions.—” after “(c)”; and (3) in subsection (d)— (A) by inserting “Applicability to Certain Naval Reserve Duty.—” after “(d)”; and (B) by striking “authorized by” and inserting “prescribed pursuant to”. (c) Transition.—The tables set forth in subsection (b) of section 301c of title 37, United States Code, as in effect on the day before the date of the enactment of this Act, shall continue to apply until the later of the following: (1) January 1, 2002. (2) The date on which the Secretary of the Navy prescribes new submarine duty incentive pay rates as authorized by the amendment made by subsection (a).