INCREASE IN LIMITATIONS ON ADMINISTRATIVE AUTHORITY OF THE NAVY TO SETTLE ADMIRALTY CLAIMS.

SEC. 1014. INCREASE IN LIMITATIONS ON ADMINISTRATIVE AUTHORITY OF THE NAVY TO SETTLE ADMIRALTY CLAIMS. (a) Admiralty Claims Against the United States.—Section 7622 of title 10, United States Code, is amended— (1) in subsections (a) and (b), by striking “$1,000,000” and inserting “$15,000,000”; and (2) in subsection (c), by striking “$100,000” and inserting “$1,000,000”. (b) Admiralty Claims by the United States.—Section 7623 of such title is amended— (1) in subsection (a)(2), by striking “$1,000,000” and inserting “$15,000,000”; and (2) in subsection (c), by striking “$100,000” and inserting “$1,000,000”. (c) Effective Date.—The amendments made by this section shall apply with respect to any claim accruing on or after February 1, 2001.