118 STAT. 1039 PUBLIC LAW 108–293—AUG. 9, 2004 Repayment of any such loan shall be made on the basis of each complete year of service performed by the borrower. ‘‘(2) The Secretary may repay loans described in paragraph (1) in the case of any person for service performed on active duty as an enlisted member of the Coast Guard in a specialty specified by the Secretary. ‘‘(b) The portion or amount of a loan that may be repaid under subsection (a) is 331 3 percent or $1,500, whichever is greater, for each year of service. ‘‘(c) If a portion of a loan is repaid under this section for any year, interest on the remainder of such loan shall accrue and be paid in the same manner as is otherwise required. ‘‘(d) Nothing in this section shall be construed to authorize refunding any repayment of a loan. ‘‘(e) The Secretary shall, by regulation, prescribe a schedule for the allocation of funds made available to carry out this section during any year for which funds are not sufficient to pay the sum of the amounts eligible for repayment under subsection (a).’’. (b) CLERICAL AMENDMENT.—The table of sections at the begin ning of chapter 13 of title 14, United States Code, is amended by inserting after the item relating to section 471 the following: ‘‘472. Education loan repayment program.’’. SEC. 219. CONTINGENT EXPENSES. Section 476 of title 14, United States Code, is amended— (1) by striking ‘‘$7,500’’ and inserting ‘‘$50,000’’; and (2) by striking the second sentence. SEC. 220. RESERVE ADMIRALS. (a) PRECEDENCE.—Section 725 of title 14, United States Code, is amended by adding at the end the following: ‘‘(d) Notwithstanding any other law, a Reserve officer shall not lose precedence by reason of promotion to the grade of rear admiral or rear admiral (lower half), if the promotion is determined in accordance with a running mate system. ‘‘(e) The Secretary shall adjust the date of rank of a Reserve officer so that no changes of precedence occur.’’. (b) PROMOTION.—Section 736(b) of title 14, United States Code, is amend to read as follows: ‘‘(b) Notwithstanding any other provision of law and subject to subsection (c), if promotion of an inactive duty promotion list officer to the grade of rear admiral or rear admiral (lower half) is determined in accordance with a running mate system, a reserve officer, if acceptable to the President and the Senate, shall be promoted to the next higher grade no later than the date the officer’s running mate is promoted.’’. (c) DATE OF APPOINTMENT.—Section 736(c) of title 14, United States Code, is amend by striking ‘‘of subsection (a)’’. (d) MAXIMUM SERVICE.—Section 743 of title 14, United States Code, is amended to read as follows: ‘‘§743. Rear admiral and rear admiral (lower half); maximum service in grade ‘‘(a) Unless retained in or removed from an active status under any other law, a reserve rear admiral or rear admiral (lower half) shall be retired on July 1 of the promotion year immediately fol lowing the promotion year in which that officer completes 4 years Regulations.
�
