This bill revises the requirements for passenger vessels that are exempt from fire-retardant materials standards. Vessels in operation before January 1, 1968, that operate within inland waterways are exempt from the new requirements until December 1, 2028. Exempt vessel operators must follow certain requirements including notifying prospective passengers in writing prior to the sale of any ticket for boarding and making annual structural alterations to at least 10% of areas of the vessel that are not constructed of fire-retardant materials. Additionally, the Department of Transportation (DOT) must conduct an annual inspection of any vessel that is exempted from fire-retardant materials standards. DOT may withdraw a certificate of inspection for any vessel that does not comply with requirements under this bill.