Maritime Security Act of 1996

[AI summary unavailable — showing source text] Maritime Security Act of 1995 - Amends the Merchant Marine Act, 1936 to modify the authority of the Secretary of Transportation regarding operating-differential subsidies (ODSs) for vessels over 25 years old. Allows the Secretary to authorize replacement vessels for certain liner vessels receiving ODSs, making them ineligible for ODSs and limiting them to payments under this Act until the existing contract terminates by its terms. Allows the Secretary to authorize replacement vessels for certain bulk cargo vessels receiving ODSs, requiring that they continue to receive ODSs until the existing contract terminates by its terms. Prohibits new ODS contracts after enactment of this Act. Prohibits renewing or extending existing contracts. Allows operation of an ODS vessel in the U.S. foreign trade without restriction, notwithstanding any other provision of the Merchant Marine Act, 1936. Allows certain liner vessels to be transferred and registered under the flag of an effective U.S.-controlled foreign flag, provided the vessel is available for requisition by the Secretary. Mandates the establishment of a fleet of active, militarily useful vessels to meet national defense and other securi…