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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4383 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4383

 To authorize the Secretary of Transportation to convey the vessel S/S 
 AMERICAN VICTORY to the Battle of the Atlantic Historical Society for 
use as a Merchant Marine memorial, for historical preservation, and for 
                        educational activities.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 10, 1994

  Mr. Manton introduced the following bill; which was referred to the 
               Committee on Merchant Marine and Fisheries

_______________________________________________________________________

                                 A BILL

 
 To authorize the Secretary of Transportation to convey the vessel S/S 
 AMERICAN VICTORY to the Battle of the Atlantic Historical Society for 
use as a Merchant Marine memorial, for historical preservation, and for 
                        educational activities.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. AUTHORITY TO CONVEY VESSEL.

    (a) In General.--Notwithstanding any other law, the Secretary of 
Transportation may convey the right, title, and interest of the United 
States Government in and to the vessel S/S AMERICAN VICTORY (Victory 
Ship VC2-S-AP3; United States official number 248005) to the Battle of 
the Atlantic Historical Society (in this section referred to as ``the 
recipient''), if--
            (1) the recipient agrees to use the vessel for the purposes 
        of a Merchant Marine memorial, historical preservation, and 
        educational activities;
            (2) the vessel is not used for commercial transportation 
        purposes;
            (3) the recipient agrees to make the vessel available to 
        the Government if the Secretary requires use of the vessel by 
        the Government for war or a national emergency;
            (4) the recipient agrees that when the recipient no longer 
        requires the vessel for use for the purposes described in 
        paragraph (1)--
                    (A) the recipient will, at the discretion of the 
                Secretary, reconvey the vessel to the Government in 
                good condition except for ordinary wear and tear; or
                    (B) if the recipient has decided to dissolve 
                according to the laws of the State of New York, then--
                            (i) the recipient shall distribute the 
                        vessel, as an asset of the recipient, to a 
                        person that is described in section 501(c)(3) 
                        of the Internal Revenue Code of 1986 (26 U.S.C. 
                        501(c)(3)) and that is exempt from taxation 
                        under section 501(a) of that Code (26 U.S.C. 
                        501(a)), or to the Federal Government or a 
                        State or local government for a public purpose; 
                        and
                            (ii) the vessel shall be disposed of by a 
                        court of competent jurisdiction of the county 
                        in which the principal office of the recipient 
                        is located, for such purposes as the court 
                        shall determine, or to such organizations as 
                        the court shall determine are organized 
                        exclusively for public purposes;
            (5) the recipient agrees to hold the Government harmless 
        for any claims arising from exposure to asbestos after 
        conveyance of the vessel, except for claims arising from use by 
        the Government under paragraph (3) or (4);
            (6) the recipient has available, for use to restore the 
        vessel, in the form of cash, liquid assets, or a written loan 
        commitment, financial resources of at least $100,000; and
            (7) the recipient is described in section 501(c)(3) of the 
        Internal Revenue Code of 1986 (26 U.S.C. 501(c)(3)) and is 
        exempt from taxation under section 501(a) of that Code (26 
        U.S.C. 501(a)).
    (b) Delivery of Vessel.--If a conveyance is made under this 
section, the Secretary shall deliver the vessel at the place where the 
vessel is located on the date of enactment of this Act, in its present 
condition, without cost to the Government.
    (c) Other Unneeded Equipment.--The Secretary may convey to the 
recipient any unneeded equipment from other vessels in the National 
Defense Reserve Fleet for use to restore the S/S AMERICAN VICTORY to 
museum quality.
    (d) Retention of Vessel in NDRF.--The Secretary shall retain in the 
National Defense Reserve Fleet the vessel authorized to be conveyed 
under subsection (a), until the earlier of--
            (1) 2 years after the date of the enactment of this Act; or
            (2) the date of conveyance of the vessel under subsection 
        (a).
    (e) Reversionary Interest of the United States.--All right, title, 
and interest in and to a vessel that is conveyed under subsection (a) 
to and held by the recipient shall revert to the United States at any 
time that it is finally determined that the recipient is not exempt 
from taxation under section 501(a) of the Internal Revenue Code of 1986 
(26 U.S.C. 501(a)).

                                 <all>
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