H.R. 3940 — Open America's Waters Act

This section revises the eligibility criteria for coastwise endorsements under 46 U.S.C. §12112(a) to permit issuance for any vessel that qualifies under U.S. laws to engage in coastwise trade (i.e., domestic waterborne commerce between U.S. points under the Jones Act). It directs the Coast Guard Commandant to issue implementing regulations within 90 days of enactment requiring all such vessels to meet applicable safety and security standards and makes conforming amendments, including (1) repealing restrictions on coastwise endorsements for certain tank vessels, liquefied gas tankers, small passenger vessels, and oil spill response vessels; (2) repealing §12132 on loss of coastwise trade privileges; and (3) eliminating related cross-references.