A bill to amend section 502(a) of the Merchant Marine Act, 1936.

[AI summary unavailable — showing source text] Authorizes the Secretary of Commerce, at any time prior to June 30, 1976, to accept a price for construction of a ship which has been negotiated between a shipyard and proposed ship purchaser if the negotiated price will result in a construction-differential subsidy that is equal to or less than forty-one percent in fiscal 1973, thirty-nine percent in fiscal 1974, thirty-seven percent in fiscal 1975, and thirty-five percent in fiscal 1976. (Amends 46 U.S.C. 1152 (a))…