Reinstates the transferee to good standing and eligibility to participate in the General Service Administration's Federal Donation Program in Alaska.
Establishes in the Maritime Administration a five-year pilot project under which the transferee, using such vessel as appropriate, shall remove and dismantle up to 20 vessels of the National Defense Reserve Fleet on the U.S. Pacific coast.
Authorizes appropriations for an advance direct lump-sum payment to the transferee.