The Secretary of Transportation may make an agreement (effective for not more than 4 years) with the following academies to provide annual payments to those academies for their maintenance and support:

(1) One State maritime academy in each State that satisfies section 51506(a) of this title.

(2) Each regional maritime academy that satisfies section 51506(a) of this title.

Subject to paragraph (2), an annual payment to an academy under subsection (a) shall be at least equal to the amount given to the academy for its maintenance and support by the State in which it is located, or, for a regional maritime academy, by all States cooperating to sponsor the academy.

(1) In general.— Subject to paragraph (2), an annual payment to an academy under subsection (a) shall be at least equal to the amount given to the academy for its maintenance and support by the State in which it is located, or, for a regional maritime academy, by all States cooperating to sponsor the academy.

(2) Maximum.— The amount under paragraph (1) may not be more than $25,000, unless the academy satisfies section 51506(b) of this title.

(Pub. L. 109–304, § 8(b), Oct. 6, 2006, 120 Stat. 1578; Pub. L. 109–163, div. C, title XXXV, § 3502(a), Jan. 6, 2006, 119 Stat. 3547; Pub. L. 110–181, div. C, title XXXV, § 3523(a)(3), (b), Jan. 28, 2008, 122 Stat. 599, 600; Pub. L. 115–232, div. C, title XXXV, § 3515(d), Aug. 13, 2018, 132 Stat. 2313.)