the United States Shipping Board, the U.S. Shipping Board Bureau, the United States Maritime Commission, or the War Shipping Administration. (f) Recoveries Notwithstanding other provisions of law, the net proceeds from salvage agreements entered into as authorized in subsection (e) shall remain available until expended and be distributed as follows for marine insurance-related salvages: (1) Fifty percent of the net funds recovered shall be deposited in the war risk revolving fund and shall be available for the purposes of the war risk revolving fund. (2) Fifty percent of the net funds recovered shall be deposited in the Vessel Operations Revolving Fund as established by section 50301(a) of this title and shall be available until expended as follows: (A) Fifty percent shall be available to the Administrator of the Maritime Administration for such acquisition, maintenance, repair, reconditioning, or improvement of vessels in the National Defense Reserve Fleet as is authorized under other Federal law. (B) Twenty-five percent shall be available to the Administrator of the Maritime Administration for the payment or reimbursement of expenses incurred by or on behalf of State maritime academies or the United States Merchant Marine Academy for facility and training ship maintenance, repair, and modernization, and for the purchase of simulators and fuel. (C) The remainder shall be distributed for maritime heritage preservation to the Department of the Interior for grants as authorized by section 308703 of title 54. . 111. Port operations, research, and technology (a) Short title This section may be cited as the Ports Improvement Act . (b) Port and intermodal improvement program Section 50302 of title 46, United States Code, is amended by striking subsection (c) and inserting the following: (c) Port and intermodal improvement program (1) General authority Subject to the availability of appropriations, the Secretary of Transportation shall make grants, on a competitive basis, to eligible applicants to assist in funding