1. Short title This Act may be cited as the Federal Ship Financing Improvement Act . 2. Loans for retrofitting to qualify as a vessel of the United States Section 53706(a) of title 46, United States Code, is amended by adding at the end the following: (8) Financing (including reimbursement of an obligor for expenditures previously made for) the reconstruction, reconditioning, retrofitting, repair, or similar work in a shipyard located in the United States— (A) required for the vessel to be a vessel of the United States; (B) required for the vessel to be issued a coastwise endorsement under chapter 121; (C) to convert a civilian vessel of the United States to a more useful military configuration; (D) for any vessel under contract to the Federal Government; or (E) for any vessel participating in— (i) the Maritime Security Program or the Emergency Preparedness Program under chapter 531; (ii) the Cable Security Fleet under chapter 532; (iii) the Tanker Security Fleet under chapter 534; or (iv) the National Defense Reserve Fleet under section 57100. . 3. Buy America requirements for shipyard modernization and improvement program Section 53733 of title 46, United States Code, is amended by adding at the end the following: (f) Buy America Section 54101(d)(2) shall apply to any funds obligated by the Administrator under this section. . 4. Technical corrections (a) Chapter 537 The analysis for chapter 537 of title 46, United States Code, is amended by striking the item relating to section 53703 and inserting the following: 53703. Application and administration. . (b) Chapter 541 The analysis for chapter 541 of title 46, United States Code, is amended to read as follows: Chapter 541—Miscellaneous Sec. 54101. Assistance for small shipyards. .