To amend title 46, United States Code, to allow the Administrator of the Maritime Administration to finance vessel retrofit, repair, or similar work required for the vessel to be a vessel of the United States, and for other purposes.

This bill allows the Maritime Administration to guarantee financing (including reimbursement of an obligor for expenditures previously made) for reconstruction, reconditioning, retrofitting, repair, or similar work in a shipyard located in the United States for, among other things, making changes required for a vessel to be a vessel of the United States.