1. Short title
This Act may be cited as the “Coast Guard Regulation Relief Act of 2014”.
Coast Guard Regulation Relief Act of 2014
A BILL
To amend title 46, United States Code, with respect to notices of claim of maritime lien, and for other purposes.
2. Notices of claim of maritime lien
Section 31343 of title 46, United States Code, is amended by striking subsection (e) and inserting the following:
“(e)
“(1) A notice of claim of lien recorded under subsection (b) shall expire 3 years after the date on which such notice is recorded.
“(2) A person may re-record a notice that has expired under paragraph (1) or (3) if the person submits to the Secretary a declaration stating that the information in the notice remains true and correct to the best of the knowledge, information, and belief of the person.
“(3) A notice re-recorded under paragraph (2) shall expire 3 years after the date on which such notice was last re-recorded.
“(4) Expiration of a notice under this subsection may not be construed to have any effect on the validity of a claim of lien.”