DECISION PERIOD.

SEC. 3525. DECISION PERIOD. Section 1104A of the Merchant Marine Act, 1936 (46 U.S.C. App. 1274), as amended by section 3523, is amended by adding at the end the following:“(n) Decision Period.—“(1) In general.—The Secretary of Transportation shall approve or deny an application for a loan guarantee under this title within 270 days after the date on which the signed application is received by the Secretary.“(2) Extension.—Upon request by an applicant, the Secretary may extend the 270-day period in paragraph (1) to a date not later than 2 years after the date on which the signed application for the loan guarantee was received by the Secretary.”.