Qualified withdrawals

Section 53509 of the title 46, United States Code, is amended— (1) by striking subsection (a) and inserting the following: (a) In general Subject to subsections (b) and (c), a withdrawal from a capital construction fund is a qualified withdrawal if it is made under the terms of the agreement and is for— (1) the acquisition, construction, or reconstruction of— (A) a qualified vessel or a barge or container that is part of the complement of a qualified vessel; or (B) cargo handling equipment; or (2) the payment of the principal on indebtedness incurred in the acquisition, construction, or reconstruction of— (A) a qualified vessel or a barge or container that is part of the complement of a qualified vessel; or (B) cargo handling equipment.; (2) by redesignating subsection (c) as subsection (e); and (3) by inserting after subsection (b) the following: (c) Fully automated cargo handling equipment No withdrawals may be made from a capital construction fund to purchase fully automated cargo handling equipment that is remotely operated or remotely monitored with or without the exercise of human intervention or control, if the Secretary determines such equipment would result in a net loss of jobs within a marine terminal. (d) Prohibition on PRC cranes No withdrawals may be made from a capital construction fund to purchase cranes manufactured in the People's Republic of China..