Liner Development Act of 1986

[AI summary unavailable — showing source text] Liner Development Act of 1986 - Amends the Merchant Marine Act, 1936 to direct the Secretary of Transportation to enter into operating-differential subsidy (ODS) contracts with certain U.S. citizens for the operation of qualified vessels in the international trade. Authorizes and directs the Secretary to amend existing ODS contracts to reflect changes brought about by this Act. Outlines administrative provisions regarding such ODS contracts. Outlines: (1) eligibility requirements for ODS contracts with the Secretary; and (2) procedures for entering into such contracts, requiring any operator to apply within 120 days after enactment of this Act. Directs the Secretary to award and enter into an ODS contract with a qualified applicant within 270 days after enactment of this Act. Outlines procedures for amending existing ODS contracts to reflect the changes brought about by this Act. Requires any operator wishing to amend its contract to notify the Secretary of such intention within one year after enactment of this Act. Prohibits any such amendments from taking effect prior to 270 days after enactment of this Act. Sets forth the terms and restrictions for new ODS contracts and amendmen…