§57110 Salvage Recoveries for Subrogated Ownership of Vessels and Cargoes

Summary

The Secretary of Transportation can make contracts to recover, sell, or dispose of sunken or damaged ships, cargo, or other property that are owned by or insured for the Maritime Administration, the United States Shipping Board, the U.S. Shipping Bureau, the United States Maritime Commission, or the War Shipping Administration. Before doing anything that will disturb sunken military craft, the Secretary must talk with the Secretary of the relevant military department; "sunken military craft" is the term defined in section 1408(3) of the Ronald W. Reagan National Defense Authorization Act for Fiscal Year 2005 (Public Law 108–375; 10 U.S.C. 113 note). Money left over from these salvage contracts can be used until it is all spent. Half of the net proceeds (50%) go to the Administrator of the Maritime Administration to pay or repay expenses for State maritime academies and the United States Merchant Marine Academy for upkeep, repairs, modernization of facilities and training ships, and to buy simulators and fuel. The rest goes to the Department of the Interior for maritime heritage preservation grants under section 308703 of title 54.