((a)) ** .—** does not apply to the movement of a floating dry dock if—

((1)) the floating dry dock—

((A)) is being used to launch or raise a vessel in connection with the construction, maintenance, or repair of that vessel;

((B)) is owned and operated by—

((i)) a shipyard located in the United States that is an eligible owner specified under ; or

((ii)) an affiliate of such a shipyard; and

((C))

((i)) was owned or contracted for purchase by such shipyard or affiliate prior to the date of the enactment of the Carl Levin and Howard P. “Buck” McKeon National Defense Authorization Act for Fiscal Year 2015; or

((ii)) had a letter of intent for purchase by such shipyard or affiliate signed prior to such date of enactment; and

((2)) the movement occurs within 5 nautical miles of the shipyard or affiliate that owns and operates such floating dry dock or, in the case of a dry dock described in paragraph (1)(C)(ii), occurs between Honolulu, Hawaii, and Pearl Harbor, Hawaii.

((b))

((1)) ** .—** In applying subsection (a) to a floating dry dock used for the construction of naval vessels in a shipyard located in the United States, the ownership and operation requirement in paragraph (1)(B) of that subsection shall be treated as satisfied and “” shall be substituted for the date referred to in paragraph (1)(C) of that subsection if the Secretary of the Navy determines that—

((A)) such dry dock is necessary for the timely completion of such construction; and

((B)) such dry dock—

((i)) is owned and operated by—

((I)) a shipyard located in the United States that is an eligible owner specified under section 12103(b); or

((II)) an affiliate of such a shipyard; or

((ii)) is—

((I)) owned by the State in which the shipyard is located or a political subdivision of that State; and

((II)) operated by a shipyard located in the United States that is an eligible owner specified under section 12103(b).

((2)) ** .—** Not later than 30 days after making a determination under paragraph (1), the Secretary of the Navy shall notify the Committee on Armed Services and the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Armed Services and the Committee on Commerce, Science, and Transportation of the Senate of such determination.

((c)) ** .—** In this section, the term “floating dry dock” means equipment with wing walls and a fully submersible deck.