PROHIBITION ON PARTICIPATION OF LONG TERM CHARTERS IN TANKER SECURITY FLEET.

SEC. 3515. PROHIBITION ON PARTICIPATION OF LONG TERM CHARTERS IN TANKER SECURITY FLEET. (a) Definition of Long Term Charter.—Section 53401 of title 46, United States Code, is amended by adding at the end the following new paragraph: “(8) Long term charter.—The term ‘long term charter’ means any time charter of a product tank vessel to the United States Government that, together with options, occurs for a continuous period of more than 180 days.” . (b) Participation of Long Term Charters in Tanker Security Fleet.—Section 53404(b) of such title is amended— (1) by striking “The program participant of a” and inserting “Any”; (2) by inserting “long term” before “charter”; (3) by inserting “not” before “eligible”; and (4) by striking “receive payments pursuant to any operating agreement that covers such vessel” and inserting “participate in the Fleet”.