AUTHORIZATION OF APPROPRIATIONS FOR FISCAL YEAR 2008.

SEC. 3501. AUTHORIZATION OF APPROPRIATIONS FOR FISCAL YEAR 2008. Funds are hereby authorized to be appropriated for fiscal year 2008, to be available without fiscal year limitation if so provided in appropriations Acts, for the use of the Department of Transportation for the Maritime Administration as follows:(1) For expenses necessary for operations and training activities, $124,303,000, of which—(A) $63,958,000 shall remain available until expended for expenses and capital improvements at the United States Merchant Marine Academy; and(B) $11,500,000 which shall remain available until expended for maintenance and repair of school ships at the State Maritime Academies.(2) For expenses to maintain and preserve a United States-flag merchant fleet to serve the national security needs of the United States under chapter 531 of title 46, United States Code, $156,000,000.(3) For paying reimbursement under section 3517 of the Maritime Security Act of 2003 (46 U.S.C. 53101 note), $19,500,000.122 STAT. 592(4) For assistance to small shipyards and maritime communities under section 54101 of title 46, United States Code, $25,000,000.(5) For expenses to dispose of obsolete vessels in the National Defense Reserve Fleet, including provision of assistance under section 7 of Public Law 92–402, $20,000,000.(6) For the cost (as defined in section 502(5) of the Federal Credit Reform Act of 1990 (2 U.S.C 661a(5)) of loan guarantees under the program authorized by chapter 537 of title 46, United States Code, $30,000,000.(7) For administrative expenses related to the implementation of the loan guarantee program under chapter 537 of title 46, United States Code, administrative expenses related to implementation of the reimbursement program under section 3517 of the Maritime Security Act of 2003 (46 U.S.C. 53101 note), and administrative expenses related to the implementation of the small shipyards and maritime communities assistance program under section 54101 of title 46, United States Code, $6,000,000.