Liner Development Act of 1986

[AI summary unavailable — showing source text] Liner Development Act of 1986 - Amends the Merchant Marine Act, 1936 to authorize persons who qualify to enter into operating-differential subsidy contracts with the Secretary of Transportation. Authorizes any person currently under contract with the Secretary to have such contract amended to provide for the payment of such an operating-differential subsidy (ODS). Makes an owner or operator of a qualified vessel (certain liners) eligible to receive ODS payment if such vessel is operating in international trade on the date of enactment of this Act. Authorizes certain other vessel owners or operators to file for an amended contract under this Act. Requires the Secretary, when entering into a contract or an amended contract under this Act, to provide that: (1) the contract vessel shall be manned exclusively by U.S. citizens; (2) such vessel shall be offered for enrollment in a sealift readiness program approved by the Secretary of Defense; and (3) the construction plan of vessels constructed after the enactment of this Act is reviewed by the Secretary of the Navy for possible equipment modification for purposes of national defense. Terminates each ODS contract and contract amendments …