Financial assistance to State to prepare transferred ship

16 U.S.C. § 1220c–1
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) Assistance authorizedThe Secretary, subject to the availability of appropriations, may provide, to any State to which an obsolete ship is transferred under this chapter, financial assistance to prepare the ship for use as an artificial reef, including for—(1) environmental remediation; (2) towing; and (3) sinking. (b) Amount of assistanceThe Secretary shall determine the amount of assistance under this section with respect to an obsolete ship based on—(1) the total amount available for providing assistance under this section; (2) the benefit achieved by providing assistance for that ship; and (3) the cost effectiveness of disposing of the ship by transfer under this chapter and provision of assistance under this section, compared to other disposal options for that ship. (c) Terms and conditionsThe Secretary—(1) shall require a State seeking assistance under this section to provide cost data and other information determined by the Secretary to be necessary to justify and document the assistance; and (2) may require a State receiving such assistance to comply with terms and conditions necessary to protect the environment and the interests of the United States. (d) LimitationThe Secretary may not provide assistance under this section to a foreign country to which an obsolete ship is transferred under this chapter.

Starting a business? Corpus forms LLCs in all 50 states and DC.