A bill to establish a Ready Reserve-Sealift Enhancement Revolving Fund.

[AI summary unavailable — showing source text] Establishes within the Treasury the Ready Reserve-Sealift Enhancement Revolving Fund. Authorizes appropriations of such funds as may be necessary to capitalize such Fund. Provides that the Secretary of the Navy shall administer such Fund. Requires that amounts in such Fund shall be used only for the construction in private shipyards in the United States of merchant vessels capable of serving as naval and military auxiliaries in time of war or national emergency. Authorizes the Secretary to award contracts to private shipyards for the construction of merchant vessels capable of serving as naval and military auxiliaries. Authorizes the Secretary to charter or sell any merchant ship constructed under this Act to citizens of the United States for operation in foreign commerce.…