REVIEWS, BRIEFINGS, REPORTS, AND TECHNICAL CORRECTIONS.

SEC. 212. REVIEWS, BRIEFINGS, REPORTS, AND TECHNICAL CORRECTIONS. (a) Major Conversion Determinations.— (1) Review of policies and procedures.—The Commandant shall conduct a review of policies and procedures for making and documenting major conversion determinations, including an examination of the deference given to precedent. (2) Briefing.—Not later than 1 year after the date of the enactment of this Act, the Commandant shall provide to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives a briefing on the findings of the review required by paragraph (1). (b) Ventilators, Openings and Stability Standards.— (1) Review.—Not later than 1 year after the date of the enactment of this Act, the Commandant shall complete a review of the effectiveness of United States regulations, international conventions, recognized organizations’ class rules, and Coast Guard technical policy regarding— (A) ventilators and other hull openings; (B) fire dampers and other closures protecting openings normally open during operations; (C) intact and damage stability standards under subchapter S of chapter I of title 46, Code of Federal Regulations; and (D) lifesaving equipment for mariners, including survival suits and life jackets. (2) Briefing.—Not later than 18 months after the date of the enactment of this Act, the Commandant shall provide to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives a briefing on the effectiveness of the regulations, international conventions, recognized organizations’ class rules, and Coast Guard technical policy reviewed under paragraph (1). (c) Self-Locating Datum Marker Buoys.—Not later than 6 months after the date of the enactment of this Act, the Commandant shall provide to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives a briefing on the reliability of self-locating datum marker buoys and other similar technology used during Coast Guard search-and-rescue operations. The briefing shall include a description of reasonable steps the Commandant could take to increase the reliability of such buoys, including the potential to leverage technology used by the Navy, and how protocols could be developed to conduct testing of such buoys before using them for operations. (d) [45 U.S.C. 822 note] Correction.— (1) In general.—Notwithstanding any other provision of law, the Secretary of Transportation, for purposes of section 22402 of title 49, United States Code (as in effect on the day before the amendments made by section 11607 of Public Law 114-94 (129 Stat. 1698) took effect)— (A) not later than 30 days after the date of enactment of this Act, and in consultation with the Director of the Office of Management and Budget, shall define the term “cohorts of loans”; (B) before the deadline described in paragraph (2), shall return to the original source, on a pro rata basis, the credit risk premiums paid for the loans in the cohort of loans, with interest accrued thereon, that were not used to mitigate losses; and (C) shall not treat the repayment of a loan after the date of enactment of Public Law 114-94 as precluding, limiting, or negatively affecting the satisfaction of the obligation of its cohort prior to the enactment of Public Law 114-94. (2) Deadline described.—The deadline described in this paragraph is— (A) if all obligations attached to a cohort of loans have been satisfied, not later than 60 days after the date of enactment of this Act; and (B) if all obligations attached to a cohort of loans have not been satisfied, not later than 60 days after the date on which all obligations attached to the cohort of loans are satisfied. (e) Oversight Program; Effectiveness.— (1) In general.—Not later than 2 years after the date of the enactment of this Act, the Commandant shall commission an assessment of the effectiveness of the Coast Guard’s oversight of recognized organizations and its impact on compliance by and safety of vessels inspected by such organizations. (2) Experience.—The assessment commissioned under paragraph (1) shall be conducted by a research organization with significant experience in maritime operations and marine safety. (3) Submission to congress.—Not later than 180 days after the date that the assessment required under paragraph (1) is completed, the Commandant shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives the results of such assessment.