President Signs Combined Appropriations Legislation

The White House issued a News Release stating that President Bush signed into law the Transportation, Treasury, and Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act, 2006 (H.R. 3058). The combined appropriations legislation provides funding for numerous programs, most of which are of little concern to the maritime industry. A few programs that are of concern will be noted here. The MARAD Maritime Security Program (MSP) was funded at $156 million. A total of $21 million was allotted for disposal of excess U.S. government ships. The Title XI loan guarantee program was provided $4.126 million for administrative expenses. No funding was provided for the National Defense Tank Vessel Construction Program. The official text of this legislation has not yet been posted on the Internet. Source: HK Law