Puerto Rico Transportation Equalization Act of 1981

[AI summary unavailable — showing source text] Puerto Rico Transportation Equalization Act of 1981 - Authorizes the Secretary of Commerce to reimburse eligible exporters and importers for the difference between ocean freight rates charged for shipping any eligible commodity on U.S. vessels between the United States and Puerto Rico and the rates charged by foreign-flag carriers for shipping such commodities on similar routes using similar vessels. Defines "eligible commodity" to include petroleum, petrochemical products, natural gas, coal, and certain products used in agricultural production. Requires the Secretary, before reimbursing such exporter or importer, to: (1) determine that the benefits of reimbursement will be realized by consumers or local producers of such commodity, depending upon whether the commodity is imported or exported; and (2) enter into a contract with such importer or exporter. Provides for renewal of such contract.…