FLOATING DRY DOCKS.

SEC. 3502. FLOATING DRY DOCKS. (a) In General.—Chapter 551 of title 46, United States Code, is amended by adding at the end the following new section: “SEC. 55122. [46 U.S.C. 55122] Floating dry docks “(a) In General.—Section 55102 of this title does not apply to the movement of a floating dry dock if— “(1) the floating dry dock— “(A) is being used to launch or raise a vessel in connection with the construction, maintenance, or repair of that vessel; “(B) is owned and operated by— “(i) a shipyard located in the United States that is an eligible owner specified under section 12103(b) of this title; or “(ii) an affiliate of such a shipyard; and “(C) was owned or contracted for purchase by such shipyard or affiliate prior to the date of the enactment of the Carl Levin and Howard P. ‘Buck’ McKeon National Defense Authorization Act for Fiscal Year 2015; and “(2) the movement occurs within 5 nautical miles of the shipyard or affiliate that owns and operates such floating dry dock. “(b) Definition.—In this section, the term ‘floating dry dock’ means equipment with wing walls and a fully submersible deck.” . (b) Clerical Amendment.—The analysis for chapter 551 of title 46, United States Code, is amended by adding at the end the following new item:“55122. Floating dry docks.”.