(g) NO EROSION OF OTHER AUTHORITY.―Nothing in this section precludes any agency, instrumentality, or department of the United States from exercising, or limits its authority to exercise, any other statutory or regulatory authority to initiate security standards.
SEC. 6. PORT SECURITY INFRASTRUCTURE IMPROVEMENT.
(a) IN GENERAL.―Title XI of the Merchant Marine Act, 1936 (46 U.S.C. App. 1101 et seq.) is amended by adding at the end thereof the following:
"SEC. 1113. LOAN GUARANTEES FOR PORT SECURITY INFRASTRUCTURE IMPROVEMENTS.
"(a) IN GENERAL.―The Secretary, under section 1103(a) and subject to the terms the Secretary shall prescribe and after consultation with the United States Coast Guard, the United States Customs Service, and the Port Security Task Force established under section 3 of the Port and Maritime Security Act of 2000, may guarantee or make a commitment to guarantee the payment of the principal of, and the interest on, an obligation for seaport security infrastructure improvements for an eligible project at any United States seaport involved in international trade.
"(b) LIMITATIONS.―Guarantees or commitments to guarantee under this section are subject to the extent applicable to all the laws, requirements, regulations, and procedures that apply to guarantees or commitments to guarantee made under this title.
"(c) TRANSFER OF FUNDS.―The Secretary may accept the transfer of funds from any other department, agency, or instrumentality of the United States Government and may use those funds to cover the cost (as defined in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 61a)) of making guarantees or commitments to guarantee loans entered into under this section.
"(d) ELIGIBLE PROJECTS.―A project is eligible for a loan guarantee or commitment under subsection (a) if is for the construction or acquisition of―
"(1) equipment or facilities to be used for seaport security monitoring and recording;
"(2) security gates and fencing;
"(3) security-related lighting systems;
"(4) remote surveillance systems;
"(5) concealed video systems; or