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S. 799

A bill to amend section 1103 of the Merchant Marine Act, 1936, to require that notice be given to the Congress of any guarantee proposed to be made under such section in excess of $25 million.

Amends the Merchant Marine Act, 1936, to prohibit the Secretary of Commerce from guaranteeing ship mortgages under such Act in excess of $25,000,000 unless the Secretary has notified specified committees of Congress of such proposed action and neither House has passed a resolution disapproving such guarantee.

Referred to Senate Committee on Commerce, Science, and Transportation.

Sen. Proxmire, William [D-WI](D-WI)Sponsor
1committees