((a)) ** .—** Requirements for a Level 1 or Level 2 acquisition project or program under sections 1131 through 1134 shall not apply to an acquisition by the Coast Guard that is a service life extension program.

((b)) ** .—** In this section, the term “service life extension program” means a capital investment that is solely intended to extend the service life and address obsolescence of components or systems of a particular capability or asset.