US (United States) Code. Title 45. Chapter 17: Railroad Revitalization and Regulatory Reform

Codificación normativa de EEUU (Estados Unidos). Legislación federal estadounidense # Railroads

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-CITE-

45 USC CHAPTER 17 - RAILROAD REVITALIZATION AND

REGULATORY REFORM 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

-HEAD-

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

-MISC1-

SUBCHAPTER I - GENERAL PROVISIONS

Sec.

801. Declaration of policy.

(a) Purpose.

(b) Policy.

802. Definitions.

803. Repealed.

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

821. Definitions.

822. Direct loans and loan guarantees.

(a) General authority.

(b) Eligible purposes.

(c) Priority projects.

(d) Extent of authority.

(e) rates of interest.

(f) Infrastructure partners.

(g) Prerequisites for assistance.

(h) Conditions of assistance.

823. Administration of direct loans and loan guarantees.

(a) Applications.

(b) Full faith and credit.

(b) Assignment of loan guarantees.

(c) Modifications.

(d) Compliance.

(e) Commercial validity.

(f) Default.

(g) Rights of the Secretary.

(h) Action against obligor.

(i) Breach of conditions.

(j) Attachment.

(k) Investigation charge.

824 to 835. Repealed or Transferred.

836. Employee protection.

(a) General.

(b) Terms.

(c) Subcontracting.

837, 838. Repealed.

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

851 to 856. Repealed.

-End-

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45 USC SUBCHAPTER I - GENERAL PROVISIONS 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER I - GENERAL PROVISIONS

-HEAD-

SUBCHAPTER I - GENERAL PROVISIONS

-End-

-CITE-

45 USC Sec. 801 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER I - GENERAL PROVISIONS

-HEAD-

Sec. 801. Declaration of policy

-STATUTE-

(a) Purpose

It is the purpose of the Congress in this Act to provide the

means to rehabilitate and maintain the physical facilities, improve

the operations and structure, and restore the financial stability

of the railway system of the United States, and to promote the

revitalization of such railway system, so that this mode of

transportation will remain viable in the private sector of the

economy and will be able to provide energy-efficient, ecologically

compatible transportation services with greater efficiency,

effectiveness, and economy, through -

(1) ratemaking and regulatory reform;

(2) the encouragement of efforts to restructure the system on a

more economically justified basis, including planning authority

in the Secretary of Transportation, an expedited procedure for

determining whether merger and consolidation applications are in

the public interest, and continuing reorganization authority;

(3) financing mechanisms that will assure adequate

rehabilitation and improvement of facilities and equipment,

implementation of the final system plan, and implementation of

the Northeast Corridor project;

(4) transitional continuation of service on light-density rail

lines that are necessary to continued employment and community

well-being throughout the United States;

(5) auditing, accounting, reporting, and other requirements to

protect Federal funds and to assure repayment of loans and

financial responsibility; and

(6) necessary studies.

(b) Policy

It is declared to be the policy of the Congress in this Act to -

(1) balance the needs of carriers, shippers, and the public;

(2) foster competition among all carriers by railroad and other

modes of transportation, to promote more adequate and efficient

transportation services, and to increase the attractiveness of

investing in railroads and rail-service-related enterprises;

(3) permit railroads greater freedom to raise or lower rates

for rail services in competitive markets;

(4) promote the establishment of railroad rate structures which

are more sensitive to changes in the level of seasonal, regional,

and shipper demand;

(5) promote separate pricing of distinct rail and rail-related

services;

(6) formulate standards and guidelines for determining adequate

revenue levels for railroads; and

(7) modernize and clarify the functions of railroad rate

bureaus.

-SOURCE-

(Pub. L. 94-210, title I, Sec. 101, Feb. 5, 1976, 90 Stat. 33.)

-REFTEXT-

REFERENCES IN TEXT

This Act, referred to in text, means Pub. L. 94-210, Feb. 5,

1976, 90 Stat. 31, as amended, known as the Railroad Revitalization

and Regulatory Reform Act of 1976. For complete classification of

this Act to the Code, see Short Title note set out below and

Tables.

-MISC1-

SHORT TITLE

Section 1 of Pub. L. 94-210 provided in part that this Act

[enacting this chapter and sections 726 and 745 to 747 of this

title, and sections 1a, 5c, 26b, 26c, 1613, 1653a, 1654, and 1657a

of former Title 49, Transportation, amending sections 543, 545,

546, 562 to 564, 702, 711 to 713, 715, 716, 718 to 721, 724, 725,

741, 743, 744, 762, 763, 771, 772, 774, 775, 778, 779, and 791 of

this title, sections 77c, 77s, 78m, and 80a-3 of Title 15, Commerce

and Trade, sections 11 and 856 of former Title 31, Money and

Finance, and sections 1, 1a, 5, 5b, 6, 12, 13, 15, 15a, 17, 20, 27,

314, 1653, 1658, and 1659 of former Title 49, repealing sections

761 to 762 of this title, enacting provisions set out as notes

under sections 745, 761, 791, and 793 of this title, sections 77c

and 80a-3 of Title 15, and sections 1, 1a, 5b, 5c, 17, and 1654 of

former Title 49, and amending notes set out under section 1651 of

former Title 49] may be cited as the "Railroad Revitalization and

Regulatory Reform Act of 1976".

-SECREF-

ACT REFERRED TO IN OTHER SECTIONS

The Railroad Revitalization and Regulatory Reform Act of 1976 is

referred to in section 726 of this title; title 16 section 1247;

title 49 section 24904.

-End-

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45 USC Sec. 802 01/06/03

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TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER I - GENERAL PROVISIONS

-HEAD-

Sec. 802. Definitions

-STATUTE-

As used in this Act, unless the context otherwise indicates, the

term -

(1) "Association" means the United States Railway Association;

(2) "Commission" means the Interstate Commerce Commission;

(3) "Corporation" means the Consolidated Rail Corporation;

(4) "final system plan" means the final system plan and any

additions thereto adopted by the Association pursuant to the

Regional Rail Reorganization Act of 1973 (45 U.S.C. 701 et seq.);

(5) "includes" and variants thereof should be read as if the

phrase "but is not limited to" were also set forth;

(6) "Office" means the Rail Services Planning Office of the

Commission;

(7) "railroad" means a rail carrier subject to part A of

subtitle IV of title 49, and includes the National Railroad

Passenger Corporation; and

(8) "Secretary" means the Secretary of Transportation or his

designated representative.

-SOURCE-

(Pub. L. 94-210, title I, Sec. 102, Feb. 5, 1976, 90 Stat. 33; Pub.

L. 97-468, title VI, Sec. 615(b)(2), Jan. 14, 1983, 96 Stat. 2578;

Pub. L. 104-88, title III, Sec. 330(1), Dec. 29, 1995, 109 Stat.

953.)

-REFTEXT-

REFERENCES IN TEXT

This Act, referred to in text, means Pub. L. 94-210, Feb. 5,

1976, 90 Stat. 31, as amended, known as the Railroad Revitalization

and Regulatory Reform Act of 1976. For complete classification of

this Act to the Code, see Short Title note set out under section

801 of this title and Tables.

The Regional Rail Reorganization Act of 1973, referred to in par.

(4), is Pub. L. 93-236, Jan. 2, 1974, 87 Stat. 985, as amended,

which is classified principally to chapter 16 (Sec. 701 et seq.) of

this title. For complete classification of this Act to the Code,

see Short Title note set out under section 701 of this title and

Tables.

-MISC1-

AMENDMENTS

1995 - Par. (7). Pub. L. 104-88 substituted "rail carrier subject

to part A of subtitle IV of title 49" for "common carrier by

railroad or express, as defined in section 1(3) of the Interstate

Commerce Act (49 U.S.C. 1(3))".

1983 - Par. (7). Pub. L. 97-468 struck out "and the Alaska

Railroad" before the semicolon at end.

EFFECTIVE DATE OF 1995 AMENDMENT

Amendment by Pub. L. 104-88 effective Jan. 1, 1996, see section 2

of Pub. L. 104-88, set out as an Effective Date note under section

701 of Title 49, Transportation.

EFFECTIVE DATE OF 1983 AMENDMENT

Amendment by Pub. L. 97-468 effective on date of transfer of

Alaska Railroad to the State [Jan. 5, 1985], pursuant to section

1203 of this title, see section 615(b) of Pub. L. 97-468.

-TRANS-

ABOLITION OF INTERSTATE COMMERCE COMMISSION AND TRANSFER OF

FUNCTIONS

Interstate Commerce Commission abolished and functions of

Commission transferred, except as otherwise provided in Pub. L.

104-88, to Surface Transportation Board effective Jan. 1, 1996, by

section 702 of Title 49, Transportation, and section 101 of Pub. L.

104-88, set out as a note under section 701 of Title 49. References

to Interstate Commerce Commission deemed to refer to Surface

Transportation Board, a member or employee of the Board, or

Secretary of Transportation, as appropriate, see section 205 of

Pub. L. 104-88, set out as a note under section 701 of Title 49.

ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF

FUNCTIONS AND SECURITIES

See section 1341 of this title.

-End-

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45 USC Sec. 803 01/06/03

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TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER I - GENERAL PROVISIONS

-HEAD-

Sec. 803. Repealed. Pub. L. 97-449, Sec. 7(b), Jan. 12, 1983, 96

Stat. 2443

-MISC1-

Section, Pub. L. 94-210, title IX, Sec. 905, Feb. 5, 1976, 90

Stat. 148, directed that no person in the United States be

discriminated against on the basis of race, color, national origin,

or sex with regard to any activity funded in whole or in part under

this Act and provided for cut-off of funds to and civil action

against any person who persisted in failure to comply. See section

306 of Title 49, Transportation.

-End-

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45 USC SUBCHAPTER II - RAILROAD REHABILITATION AND

IMPROVEMENT FINANCING 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-SECREF-

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in section 1003 of this title;

title 49 section 306.

-End-

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45 USC Sec. 821 01/06/03

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TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 821. Definitions

-STATUTE-

For purposes of this subchapter:

(1)(A) The term "cost" means the estimated long-term cost to

the Government of a direct loan or loan guarantee or modification

thereof, calculated on a net present value basis, excluding

administrative costs and any incidental effects on governmental

receipts or outlays.

(B) The cost of a direct loan shall be the net present value,

at the time when the direct loan is disbursed, of the following

estimated cash flows:

(i) Loan disbursements.

(ii) Repayments of principal.

(iii) Payments of interest and other payments by or to the

Government over the life of the loan after adjusting for

estimated defaults, prepayments, fees, penalties, and other

recoveries.

Calculation of the cost of a direct loan shall include the

effects of changes in loan terms resulting from the exercise by

the borrower of an option included in the loan contract.

(C) The cost of a loan guarantee shall be the net present

value, at the time when the guaranteed loan is disbursed, of the

following estimated cash flows:

(i) Payments by the Government to cover defaults and

delinquencies, interest subsidies, or other payments.

(ii) Payments to the Government, including origination and

other fees, penalties, and recoveries.

Calculation of the cost of a loan guarantee shall include the

effects of changes in loan terms resulting from the exercise by

the guaranteed lender of an option included in the loan guarantee

contract, or by the borrower of an option included in the

guaranteed loan contract.

(D) The cost of a modification is the difference between the

current estimate of the net present value of the remaining cash

flows under the terms of a direct loan or loan guarantee

contract, and the current estimate of the net present value of

the remaining cash flows under the terms of the contract, as

modified.

(E) In estimating net present values, the discount rate shall

be the average interest rate on marketable Treasury securities of

similar maturity to the cash flows of the direct loan or loan

guarantee for which the estimate is being made.

(F) When funds are obligated for a direct loan or loan

guarantee, the estimated cost shall be based on the current

assumptions, adjusted to incorporate the terms of the loan

contract, for the fiscal year in which the funds are obligated.

(2) The term "current" has the same meaning as in section

900(c)(9) of title 2.

(3) The term "direct loan" means a disbursement of funds by the

Government to a non-Federal borrower under a contract that

requires the repayment of such funds. The term includes the

purchase of, or participation in, a loan made by another lender

and financing arrangements that defer payment for more than 90

days, including the sale of a Government asset on credit terms.

The term does not include the acquisition of a federally

guaranteed loan in satisfaction of default claims.

(4) The term "direct loan obligation" means a binding agreement

by the Secretary to make a direct loan when specified conditions

are fulfilled by the borrower.

(5) The term "intermodal" means of or relating to the

connection between rail service and other modes of

transportation, including all parts of facilities at which such

connection is made.

(6) The term "loan guarantee" means any guarantee, insurance,

or other pledge with respect to the payment of all or a part of

the principal or interest on any debt obligation of a non-Federal

borrower to a non-Federal lender, but does not include the

insurance of deposits, shares, or other withdrawable accounts in

financial institutions.

(7) The term "loan guarantee commitment" means a binding

agreement by the Secretary to make a loan guarantee when

specified conditions are fulfilled by the borrower, the lender,

or any other party to the guarantee agreement.

(8) The term "modification" means any Government action that

alters the estimated cost of an outstanding direct loan (or

direct loan obligation) or an outstanding loan guarantee (or loan

guarantee commitment) from the current estimate of cash flows.

This includes the sale of loan assets, with or without recourse,

and the purchase of guaranteed loans. This also includes any

action resulting from new legislation, or from the exercise of

administrative discretion under existing law, that directly or

indirectly alters the estimated cost of outstanding direct loans

(or direct loan obligations) or loan guarantees (or loan

guarantee commitments) such as a change in collection procedures.

-SOURCE-

(Pub. L. 94-210, title V, Sec. 501, as added Pub. L. 105-178, title

VII, Sec. 7203(a)(1), June 9, 1998, 112 Stat. 471.)

-MISC1-

PRIOR PROVISIONS

A prior section 821, Pub. L. 94-210, title V, Sec. 501, Feb. 5,

1976, 90 Stat. 66; Pub. L. 95-620, title VIII, Sec. 803(c)(1), Nov.

9, 1978, 92 Stat. 3347; Pub. L. 96-101, Sec. 24(b), Nov. 4, 1979,

93 Stat. 747; Pub. L. 96-448, title IV, Sec. 405(d), Oct. 14, 1980,

94 Stat. 1947; Pub. L. 97-35, title XI, Sec. 1162(b), Aug. 13,

1981, 95 Stat. 684; Pub. L. 99-509, title IV, Sec. 4033(c)(2), Oct.

21, 1986, 100 Stat. 1908, defined terms for purposes of this

subchapter, prior to repeal by Pub. L. 105-178, title VII, Sec.

7203(a)(1), June 9, 1998, 112 Stat. 471.

SAVINGS PROVISION

Pub. L. 105-178, title VII, Sec. 7203(b)(2), June 9, 1998, 112

Stat. 477, provided that: "A transaction entered into under the

authority of title V of the Railroad Revitalization and Regulatory

Reform Act of 1976 (45 U.S.C. 821 et seq.) before the date of

enactment of this Act [June 9, 1998] shall be administered until

completion under its terms as if this Act [see Tables for

classification] were not enacted."

-End-

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45 USC Sec. 822 01/06/03

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TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 822. Direct loans and loan guarantees

-STATUTE-

(a) General authority

The Secretary may provide direct loans and loan guarantees to

State and local governments, government sponsored authorities and

corporations, railroads, and joint ventures that include at least 1

railroad.

(b) Eligible purposes

(1) In general

Direct loans and loan guarantees under this section shall be

used to -

(A) acquire, improve, or rehabilitate intermodal or rail

equipment or facilities, including track, components of track,

bridges, yards, buildings, and shops;

(B) refinance outstanding debt incurred for the purposes

described in subparagraph (A); or

(C) develop or establish new intermodal or railroad

facilities.

(2) Operating expenses not eligible

Direct loans and loan guarantees under this section shall not

be used for railroad operating expenses.

(c) Priority projects

In granting applications for direct loans or guaranteed loans

under this section, the Secretary shall give priority to projects

that -

(1) enhance public safety;

(2) enhance the environment;

(3) promote economic development;

(4) enable United States companies to be more competitive in

international markets;

(5) are endorsed by the plans prepared under section 135 of

title 23 by the State or States in which they are located; or

(6) preserve or enhance rail or intermodal service to small

communities or rural areas.

(d) Extent of authority

The aggregate unpaid principal amounts of obligations under

direct loans and loan guarantees made under this section shall not

exceed $3,500,000,000 at any one time. Of this amount, not less

than $1,000,000,000 shall be available solely for projects

primarily benefiting freight railroads other than Class I carriers.

(e) Rates of interest

(1) Direct loans

The Secretary shall require interest to be paid on a direct

loan made under this section at a rate not less than that

necessary to recover the cost of making the loan.

(2) Loan guarantees

The Secretary shall not make a loan guarantee under this

section if the interest rate for the loan exceeds that which the

Secretary determines to be reasonable, taking into consideration

the prevailing interest rates and customary fees incurred under

similar obligations in the private capital market.

(f) Infrastructure partners

(1) Authority of Secretary

In lieu of or in combination with appropriations of budget

authority to cover the costs of direct loans and loan guarantees

as required under section 661c(b)(1) of title 2, the Secretary

may accept on behalf of an applicant for assistance under this

section a commitment from a non-Federal source to fund in whole

or in part credit risk premiums with respect to the loan that is

the subject of the application. In no event shall the aggregate

of appropriations of budget authority and credit risk premiums

described in this paragraph with respect to a direct loan or loan

guarantee be less than the cost of that direct loan or loan

guarantee.

(2) Credit risk premium amount

The Secretary shall determine the amount required for credit

risk premiums under this subsection on the basis of -

(A) the circumstances of the applicant, including the amount

of collateral offered;

(B) the proposed schedule of loan disbursements;

(C) historical data on the repayment history of similar

borrowers;

(D) consultation with the Congressional Budget Office; and

(E) any other factors the Secretary considers relevant.

(3) Payment of premiums

Credit risk premiums under this subsection shall be paid to the

Secretary before the disbursement of loan amounts.

(4) Cohorts of loans

In order to maintain sufficient balances of credit risk

premiums to adequately protect the Federal Government from risk

of default, while minimizing the length of time the Government

retains possession of those balances, the Secretary shall

establish cohorts of loans. When all obligations attached to a

cohort of loans have been satisfied, credit risk premiums paid

for the cohort, and interest accrued thereon, which were not used

to mitigate losses shall be returned to the original source on a

pro rata basis.

(g) Prerequisites for assistance

The Secretary shall not make a direct loan or loan guarantee

under this section unless the Secretary has made a finding in

writing that -

(1) repayment of the obligation is required to be made within a

term of not more than 25 years from the date of its execution;

(2) the direct loan or loan guarantee is justified by the

present and probable future demand for rail services or

intermodal facilities;

(3) the applicant has given reasonable assurances that the

facilities or equipment to be acquired, rehabilitated, improved,

developed, or established with the proceeds of the obligation

will be economically and efficiently utilized;

(4) the obligation can reasonably be repaid, using an

appropriate combination of credit risk premiums and collateral

offered by the applicant to protect the Federal Government; and

(5) the purposes of the direct loan or loan guarantee are

consistent with subsection (b) of this section.

(h) Conditions of assistance

The Secretary shall, before granting assistance under this

section, require the applicant to agree to such terms and

conditions as are sufficient, in the judgment of the Secretary, to

ensure that, as long as any principal or interest is due and

payable on such obligation, the applicant, and any railroad or

railroad partner for whose benefit the assistance is intended -

(1) will not use any funds or assets from railroad or

intermodal operations for purposes not related to such

operations, if such use would impair the ability of the

applicant, railroad, or railroad partner to provide rail or

intermodal services in an efficient and economic manner, or would

adversely affect the ability of the applicant, railroad, or

railroad partner to perform any obligation entered into by the

applicant under this section;

(2) will, consistent with its capital resources, maintain its

capital program, equipment, facilities, and operations on a

continuing basis; and

(3) will not make any discretionary dividend payments that

unreasonably conflict with the purposes stated in subsection (b)

of this section.

-SOURCE-

(Pub. L. 94-210, title V, Sec. 502, as added Pub. L. 105-178, title

VII, Sec. 7203(a)(1), June 9, 1998, 112 Stat. 473.)

-MISC1-

PRIOR PROVISIONS

A prior section 822, Pub. L. 94-210, title V, Sec. 502, Feb. 5,

1976, 90 Stat. 67; Pub. L. 95-620, title VIII, Sec. 803(c)(2)-(4),

Nov. 9, 1978, 92 Stat. 3347, related to the Rail Fund, prior to

repeal by Pub. L. 105-178, title VII, Sec. 7203(a)(1), June 9,

1998, 112 Stat. 471.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 823 of this title.

-End-

-CITE-

45 USC Sec. 823 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 823. Administration of direct loans and loan guarantees

-STATUTE-

(a) Applications

The Secretary shall prescribe the form and contents required of

applications for assistance under section 822 of this title, to

enable the Secretary to determine the eligibility of the

applicant's proposal, and shall establish terms and conditions for

direct loans and loan guarantees made under that section.

(b) (!1) Full faith and credit

All guarantees entered into by the Secretary under section 822 of

this title shall constitute general obligations of the United

States of America backed by the full faith and credit of the United

States of America.

(b) (!1) Assignment of loan guarantees

The holder of a loan guarantee made under section 822 of this

title may assign the loan guarantee in whole or in part, subject to

such requirements as the Secretary may prescribe.

(c) Modifications

The Secretary may approve the modification of any term or

condition of a direct loan, loan guarantee, direct loan obligation,

or loan guarantee commitment, including the rate of interest, time

of payment of interest or principal, or security requirements, if

the Secretary finds in writing that -

(1) the modification is equitable and is in the overall best

interests of the United States; and

(2) consent has been obtained from the applicant and, in the

case of a loan guarantee or loan guarantee commitment, the holder

of the obligation.

(d) Compliance

The Secretary shall assure compliance, by an applicant, any other

party to the loan, and any railroad or railroad partner for whose

benefit assistance is intended, with the provisions of this

subchapter, regulations issued hereunder, and the terms and

conditions of the direct loan or loan guarantee, including through

regular periodic inspections.

(e) Commercial validity

For purposes of claims by any party other than the Secretary, a

loan guarantee or loan guarantee commitment shall be conclusive

evidence that the underlying obligation is in compliance with the

provisions of this subchapter, and that such obligation has been

approved and is legal as to principal, interest, and other terms.

Such a guarantee or commitment shall be valid and incontestable in

the hands of a holder thereof, including the original lender or any

other holder, as of the date when the Secretary granted the

application therefor, except as to fraud or material

misrepresentation by such holder.

(f) Default

The Secretary shall prescribe regulations setting forth

procedures in the event of default on a loan made or guaranteed

under section 822 of this title. The Secretary shall ensure that

each loan guarantee made under that section contains terms and

conditions that provide that -

(1) if a payment of principal or interest under the loan is in

default for more than 30 days, the Secretary shall pay to the

holder of the obligation, or the holder's agent, the amount of

unpaid guaranteed interest;

(2) if the default has continued for more than 90 days, the

Secretary shall pay to the holder of the obligation, or the

holder's agent, 90 percent of the unpaid guaranteed principal;

(3) after final resolution of the default, through liquidation

or otherwise, the Secretary shall pay to the holder of the

obligation, or the holder's agent, any remaining amounts

guaranteed but which were not recovered through the default's

resolution;

(4) the Secretary shall not be required to make any payment

under paragraphs (1) through (3) if the Secretary finds, before

the expiration of the periods described in such paragraphs, that

the default has been remedied; and

(5) the holder of the obligation shall not receive payment or

be entitled to retain payment in a total amount which, together

with all other recoveries (including any recovery based upon a

security interest in equipment or facilities) exceeds the actual

loss of such holder.

(g) Rights of the Secretary

(1) Subrogation

If the Secretary makes payment to a holder, or a holder's

agent, under subsection (g) of this section in connection with a

loan guarantee made under section 822 of this title, the

Secretary shall be subrogated to all of the rights of the holder

with respect to the obligor under the loan.

(2) Disposition of property

The Secretary may complete, recondition, reconstruct, renovate,

repair, maintain, operate, charter, rent, sell, or otherwise

dispose of any property or other interests obtained pursuant to

this section. The Secretary shall not be subject to any Federal

or State regulatory requirements when carrying out this

paragraph.

(h) Action against obligor

The Secretary may bring a civil action in an appropriate Federal

court in the name of the United States in the event of a default on

a direct loan made under section 822 of this title, or in the name

of the United States or of the holder of the obligation in the

event of a default on a loan guaranteed under section 822 of this

title. The holder of a guarantee shall make available to the

Secretary all records and evidence necessary to prosecute the civil

action. The Secretary may accept property in full or partial

satisfaction of any sums owed as a result of a default. If the

Secretary receives, through the sale or other disposition of such

property, an amount greater than the aggregate of -

(1) the amount paid to the holder of a guarantee under

subsection (g) of this section; and

(2) any other cost to the United States of remedying the

default,

the Secretary shall pay such excess to the obligor.

(i) Breach of conditions

The Attorney General shall commence a civil action in an

appropriate Federal court to enjoin any activity which the

Secretary finds is in violation of this subchapter, regulations

issued hereunder, or any conditions which were duly agreed to, and

to secure any other appropriate relief.

(j) Attachment

No attachment or execution may be issued against the Secretary,

or any property in the control of the Secretary, prior to the entry

of final judgment to such effect in any State, Federal, or other

court.

(k) Investigation charge

The Secretary may charge and collect from each applicant a

reasonable charge for appraisal of the value of the equipment or

facilities for which the direct loan or loan guarantee is sought,

and for making necessary determinations and findings. Such charge

shall not aggregate more than one-half of 1 percent of the

principal amount of the obligation.

-SOURCE-

(Pub. L. 94-210, title V, Sec. 503, as added and amended Pub. L.

105-178, title VII, Sec. 7203(a)(1), (4), June 9, 1998, 112 Stat.

475, 477.)

-COD-

CODIFICATION

The text of section 831(c) of this title, which was transferred

to subsec. (b) of this section, relating to full faith and credit

backing of guarantees entered into by Secretary, by Pub. L.

105-178, title VII, Sec. 7203(a)(4), June 9, 1998, 112 Stat. 477,

was based on Pub. L. 94-210, title V, Sec. 511, Feb. 5, 1976, 90

Stat. 76; Pub. L. 94-555, title II, Sec. 215(a), Oct. 19, 1976, 90

Stat. 2625; Pub. L. 105-178, title VII, Sec. 7203(a)(2), (3), June

9, 1998, 112 Stat. 477.

-MISC1-

PRIOR PROVISIONS

A prior section 823, Pub. L. 94-210, title V, Sec. 503, Feb. 5,

1976, 90 Stat. 69; Pub. L. 94-555, title II, Sec. 216(b), Oct. 19,

1976, 90 Stat. 2627, related to classification and designation of

rail lines, prior to repeal by Pub. L. 105-178, title VII, Sec.

7203(a)(1), June 9, 1998, 112 Stat. 471.

AMENDMENTS

1998 - Subsec. (b). Pub. L. 105-178, Sec. 7203(a)(4),

redesignated subsec. (c) of section 831 of this title as subsec.

(b) of this section, relating to full faith and credit backing of

guarantees entered into by Secretary. See Codification note above.

-FOOTNOTE-

(!1) So in original. There are two subsections designated (b).

-End-

-CITE-

45 USC Secs. 824, 825 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Secs. 824, 825. Repealed. Pub. L. 105-178, title VII, Sec.

7203(a)(1), (2), June 9, 1998, 112 Stat. 471, 477

-MISC1-

Section 824, Pub. L. 94-210, title V, Sec. 504, Feb. 5, 1976, 90

Stat. 70; Pub. L. 94-555, title II, Secs. 216(c), 220(d), Oct. 19,

1976, 90 Stat. 2627, 2629, related to capital needs study to be

submitted to Secretary.

Section 825, Pub. L. 94-210, title V, Sec. 505, Feb. 5, 1976, 90

Stat. 71; Pub. L. 94-555, title II, Secs. 212, 216(a), Oct. 19,

1976, 90 Stat. 2624, 2626; Pub. L. 95-565, Sec. 5, Nov. 1, 1978, 92

Stat. 2400; Pub. L. 95-607, title III, Secs. 301(a), 302, Nov. 8,

1978, 92 Stat. 3066; Pub. L. 95-620, title VIII, Sec. 803(c)(5),

(6), Nov. 9, 1978, 92 Stat. 3347, 3348; Pub. L. 96-73, title IV,

Sec. 401, Sept. 29, 1979, 93 Stat. 557; Pub. L. 96-101, Secs. 16,

24(a), Nov. 4, 1979, 93 Stat. 744, 747; Pub. L. 96-254, title I,

Sec. 112, May 30, 1980, 94 Stat. 404; Pub. L. 96-448, title IV,

Secs. 404, 405(a)(1), (c)(1), (2), (4), (5), 406, title VII, Sec.

701(d), Oct. 14, 1980, 94 Stat. 1945-1947, 1961; Pub. L. 97-35,

title XI, Sec. 1162(a), (c), (d), Aug. 13, 1981, 95 Stat. 683, 684;

Pub. L. 97-468, title IV, Secs. 401, 403(b), Jan. 14, 1983, 96

Stat. 2550, 2551; Pub. L. 99-509, title IV, Sec. 4033(c)(3), Oct.

21, 1986, 100 Stat. 1908; Pub. L. 104-88, title III, Sec. 330(2),

Dec. 29, 1995, 109 Stat. 953, related to rehabilitation and

improvement financing.

-End-

-CITE-

45 USC Sec. 825a 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 825a. Repealed. Pub. L. 99-509, title IV, Sec. 4033(c)(6),

Oct. 21, 1986, 100 Stat. 1909

-MISC1-

Section, Pub. L. 97-468, title IV, Sec. 402, Jan. 14, 1983, 96

Stat. 2550, provided for financial assistance to responsible

persons for purchase, lease, or rehabilitation of rail lines of

Consolidated Rail Corporation.

-End-

-CITE-

45 USC Secs. 826 to 830 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Secs. 826 to 830. Repealed. Pub. L. 105-178, title VII, Sec.

7203(a)(2), June 9, 1998, 112 Stat. 477

-MISC1-

Section 826, Pub. L. 94-210, title V, Sec. 506, Feb. 5, 1976, 90

Stat. 73; Pub. L. 94-555, title II, Secs. 213, 214, Oct. 19, 1976,

90 Stat. 2624, 2625; Pub. L. 96-448, title IV, Sec. 405(c)(3)(A),

(C), Oct. 14, 1980, 94 Stat. 1946, 1947, related to redeemable

preference shares.

Section 827, Pub. L. 94-210, title V, Sec. 507, Feb. 5, 1976, 90

Stat. 74; Pub. L. 95-607, title III, Sec. 301(b), Nov. 8, 1978, 92

Stat. 3066; Pub. L. 96-73, title IV, Sec. 401, Sept. 29, 1979, 93

Stat. 557; Pub. L. 96-448, title IV, Secs. 404, 405(a)(2),

(c)(3)(B), Oct. 14, 1980, 94 Stat. 1945, 1946; Pub. L. 97-468,

title IV, Sec. 401, Jan. 14, 1983, 96 Stat. 2550, related to fund

anticipation notes.

Section 828, Pub. L. 94-210, title V, Sec. 508, Feb. 5, 1976, 90

Stat. 74, related to fund bonds.

Section 829, Pub. L. 94-210, title V, Sec. 509, Feb. 5, 1976, 90

Stat. 76; Pub. L. 94-555, title II, Sec. 216(d), Oct. 19, 1976, 90

Stat. 2627; Pub. L. 95-607, title III, Sec. 301(c), Nov. 8, 1978,

92 Stat. 3066; Pub. L. 96-73, title IV, Sec. 401, Sept. 29, 1979,

93 Stat. 557; Pub. L. 96-448, title IV, Secs. 404, 405(a)(2),

(b)(1), Oct. 14, 1980, 94 Stat. 1945; Pub. L. 97-35, title XI, Sec.

1162(e), (f), Aug. 13, 1981, 95 Stat. 684, 685; Pub. L. 97-468,

title IV, Secs. 401, 403(a), Jan. 14, 1983, 96 Stat. 2550, 2551;

Pub. L. 99-509, title IV, Sec. 4033(c)(4), Oct. 21, 1986, 100 Stat.

1909; Pub. L. 104-88, title III, Sec. 330(3), Dec. 29, 1995, 109

Stat. 953, related to authorization of appropriations, purchases,

transfer of funds, and restrictions.

Section 830, Pub. L. 94-210, title V, Sec. 510, Feb. 5, 1976, 90

Stat. 76; Pub. L. 104-88, title III, Sec. 330(4), Dec. 29, 1995,

109 Stat. 953, related to exemption of redeemable preference shares

from certain Federal and State securities provisions.

-End-

-CITE-

45 USC Sec. 831 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 831. Transferred

-COD-

CODIFICATION

Section, Pub. L. 94-210, title V, Sec. 511, Feb. 5, 1976, 90

Stat. 76; Pub. L. 94-555, title II, Secs. 215, 220(e), (f), Oct.

19, 1976, 90 Stat. 2625, 2629, 2630; Pub. L. 96-448, title IV, Sec.

405(e), Oct. 14, 1980, 94 Stat. 1947; Pub. L. 99-509, title IV,

Sec. 4033(c)(5), Oct. 21, 1986, 100 Stat. 1909; Pub. L. 102-240,

title I, Sec. 1036(e), Dec. 18, 1991, 105 Stat. 1986, which related

to guarantee of obligations, was repealed, except for subsec. (c),

by Pub. L. 105-178, title VII, Sec. 7203(a)(2), June 9, 1998, 112

Stat. 477. Subsec. (c) of section 831 was amended, redesignated,

and transferred to section 823(b) of this title by Pub. L. 105-178,

title VII, Sec. 7203(a)(3), (4), June 9, 1998, 112 Stat. 477.

-End-

-CITE-

45 USC Secs. 832 to 834 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Secs. 832 to 834. Repealed. Pub. L. 105-178, title VII, Sec.

7203(a)(2), June 9, 1998, 112 Stat. 477

-MISC1-

Section 832, Pub. L. 94-210, title V, Sec. 512, Feb. 5, 1976, 90

Stat. 79, related to issuance of notes or obligations.

Section 833, Pub. L. 94-210, title V, Sec. 513, Feb. 5, 1976, 90

Stat. 80, related to default on guaranteed obligations.

Section 834, Pub. L. 94-210, title V, Sec. 514, Feb. 5, 1976, 90

Stat. 81, related to audit of transactions.

-End-

-CITE-

45 USC Sec. 835 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 835. Repealed. Pub. L. 97-375, title I, Sec. 111(d), Dec. 21,

1982, 96 Stat. 1821; Pub. L. 105-178, title VII, Sec. 7203(a)(2),

June 9, 1998, 112 Stat. 477

-MISC1-

Section, Pub. L. 94-210, title V, Sec. 515, Feb. 5, 1976, 90

Stat. 82, directed Secretary to report to Congress within 90 days

following end of each fiscal year on financial condition and

operations of Fund and of obligation guarantee fund during such

fiscal year, and on anticipated condition and operations of Fund

and of obligation guarantee fund during current fiscal year.

-End-

-CITE-

45 USC Sec. 836 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Sec. 836. Employee protection

-STATUTE-

(a) General

Fair and equitable arrangements shall be provided, in accordance

with this section, to protect the interests of any employees not

otherwise protected under title V of the Regional Rail

Reorganization Act of 1973 (45 U.S.C. 771 et seq.), who may be

affected by actions taken pursuant to authorizations or approval

obtained under this subchapter. Such arrangements shall be

determined by the execution of an agreement between the

representatives of the railroads and the representatives of their

employees, within 120 days after February 5, 1976. In the absence

of such an executed agreement, the Secretary of Labor shall

prescribe the applicable protective arrangements, within 150 days

after February 5, 1976.

(b) Terms

The arrangements required by subsection (a) of this section shall

apply to each employee who has an employment relationship with a

railroad on the date on which such railroad first applies for

applicable financial assistance under this subchapter. Such

arrangements shall include such provisions as may be necessary for

the negotiation and execution of agreements as to the manner in

which the protective arrangements shall be applied, including

notice requirements. Such agreements shall be executed prior to

implementation of work funded from financial assistance under this

subchapter. If such an agreement is not reached within 30 days

after the date on which an application for such assistance is

approved, either party to the dispute may submit the issue for

final and binding arbitration. The decision on any such arbitration

shall be rendered within 30 days after such submission. Such

arbitration decision shall in no way modify the protection afforded

in the protective arrangements established pursuant to this

section, shall be final and binding on the parties thereto, and

shall become a part of the agreement. Such arrangements shall also

include such provisions as may be necessary -

(1) for the preservation of compensation (including subsequent

general wage increases, vacation allowances, and monthly

compensation guarantees), rights, privileges, and benefits

(including fringe benefits such as pensions, hospitalization, and

vacations, under the same conditions and so long as such benefits

continue to be accorded to other employees of the employing

railroad in active service or on furlough, as the case may be) to

such employees under existing collective-bargaining agreements or

otherwise;

(2) to provide for final and binding arbitration of any dispute

which cannot be settled by the parties, with respect to the

interpretation, application, or enforcement of the provisions of

the protective arrangements;

(3) to provide that an employee who is unable to secure

employment by the exercise of his or her seniority rights, as a

result of actions taken with financial assistance obtained under

this subchapter, shall be offered reassignment and, where

necessary, retraining to fill a position comparable to the

position held at the time of such adverse effect and for which he

is, or by training and retraining can become, physically and

mentally qualified, so long as such offer is not in contravention

of collective bargaining agreements relating thereto; and

(4) to provide that the protection afforded pursuant to this

section shall not be applicable to employees benefited solely as

a result of the work which is financed by funds provided pursuant

to this subchapter.

(c) Subcontracting

The arrangements which are required to be negotiated by the

parties or prescribed by the Secretary of Labor, pursuant to

subsections (a) and (b) of this section, shall include provisions

regulating subcontracting by the railroads of work which is

financed by funds provided pursuant to this subchapter.

-SOURCE-

(Pub. L. 94-210, title V, Sec. 504, formerly Sec. 516, Feb. 5,

1976, 90 Stat. 82; renumbered Sec. 504, Pub. L. 105-178, title VII,

Sec. 7203(a)(5), June 9, 1998, 112 Stat. 477.)

-REFTEXT-

REFERENCES IN TEXT

The Regional Rail Reorganization Act of 1973, referred to in

subsec. (a), is Pub. L. 93-236, Jan. 2, 1974, 87 Stat. 985, as

amended. Title V of the Regional Rail Reorganization Act of 1973,

which was classified generally to subchapter V (Sec. 771 et seq.)

of chapter 16 of this title, was repealed by Pub. L. 97-35, title

XI, Sec. 1144(a)(1), Aug. 13, 1981, 95 Stat. 669. For complete

classification of this Act to the Code, see Short Title note set

out under section 701 of this title and Tables.

-MISC1-

PRIOR PROVISIONS

A prior section 504 of Pub. L. 94-210 was classified to section

824 of this title prior to repeal by Pub. L. 105-178.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 914, 1003 of this title.

-End-

-CITE-

45 USC Secs. 837, 838 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER II - RAILROAD REHABILITATION AND IMPROVEMENT FINANCING

-HEAD-

Secs. 837, 838. Repealed. Pub. L. 105-178, title VII, Sec.

7203(a)(2), June 9, 1998, 112 Stat. 477

-MISC1-

Section 837, Pub. L. 94-210, title V, Sec. 517, Feb. 5, 1976, 90

Stat. 83, related to intercity rail passenger service.

Section 838, Pub. L. 94-210, title V, Sec. 518, as added Pub. L.

102-533, Sec. 12(a), Oct. 27, 1992, 106 Stat. 3521, related to

Columbus and Greenville Railway.

-End-

-CITE-

45 USC SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT

IMPLEMENTATION 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-HEAD-

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-End-

-CITE-

45 USC Sec. 851 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-HEAD-

Sec. 851. Repealed. Pub. L. 103-272, Sec. 7(b), July 5, 1994, 108

Stat. 1379

-MISC1-

Section, Pub. L. 94-210, title VII, Sec. 701, Feb. 5, 1976, 90

Stat. 119; Pub. L. 96-254, title II, Sec. 205, May 30, 1980, 94

Stat. 412, specified powers and duties of National Railroad

Passenger Corporation with respect to implementing the Northeast

Corridor improvement project. See sections 24102, 24305, 24315,

24902, and 24904 of Title 49, Transportation.

-End-

-CITE-

45 USC Sec. 852 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-HEAD-

Sec. 852. Repealed. Pub. L. 97-35, title XI, Sec. 1188(e), Aug. 13,

1981, 95 Stat. 699

-MISC1-

Section, Pub. L. 94-210, title VII, Sec. 702, Feb. 5, 1976, 90

Stat. 120, set forth provisions relating to the Operations Review

Panel.

EFFECTIVE DATE OF REPEAL

Repeal effective Oct. 1, 1981, see section 1189 of Pub. L. 97-35.

-End-

-CITE-

45 USC Secs. 853 to 855 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-HEAD-

Secs. 853 to 855. Repealed. Pub. L. 103-272, Sec. 7(b), July 5,

1994, 108 Stat. 1379

-MISC1-

Section 853, Pub. L. 94-210, title VII, Sec. 703, Feb. 5, 1976,

90 Stat. 121; Pub. L. 95-421, Secs. 5, 8, Oct. 5, 1978, 92 Stat.

926, 927; Pub. L. 96-254, title II, Secs. 202, 203, 209, May 30,

1980, 94 Stat. 410, 414; Pub. L. 97-468, title III, Sec. 301(1),

Jan. 14, 1983, 96 Stat. 2547; Pub. L. 99-272, title IV, Sec.

4007(d), Apr. 7, 1986, 100 Stat. 108, enumerated goals of Northeast

Corridor improvement project. See section 24902 of Title 49,

Transportation.

Section 854, Pub. L. 94-210, title VII, Sec. 704, Feb. 5, 1976,

90 Stat. 122; Pub. L. 94-555, title II, Sec. 217, Oct. 19, 1976, 90

Stat. 2627; Pub. L. 95-421, Sec. 9, Oct. 5, 1978, 92 Stat. 928;

Pub. L. 96-254, title II, Secs. 204(a), (b), 210, May 30, 1980, 94

Stat. 411, 414; Pub. L. 97-35, title XI, Sec. 1193, Aug. 13, 1981,

95 Stat. 701; Pub. L. 97-468, title III, Sec. 301(2)-(4), Jan. 14,

1983, 96 Stat. 2548, 2549; Pub. L. 100-342, Sec. 6, June 22, 1988,

102 Stat. 627, related to funding of Northeast Corridor improvement

project. See sections 24104, 24902, 24904, 24907, and 24909 of

Title 49.

Section 855, Pub. L. 94-210, title VII, Sec. 705, as added Pub.

L. 96-254, title II, Sec. 206(a), May 30, 1980, 94 Stat. 412;

amended Pub. L. 97-468, title III, Sec. 301(5), Jan. 14, 1983, 96

Stat. 2550, related to transfers of authority with respect to track

improvements and implementation of Northeast Corridor improvement

project goals. See sections 24902, 24904, and 24909 of Title 49.

-End-

-CITE-

45 USC Sec. 856 01/06/03

-EXPCITE-

TITLE 45 - RAILROADS

CHAPTER 17 - RAILROAD REVITALIZATION AND REGULATORY REFORM

SUBCHAPTER III - NORTHEAST CORRIDOR PROJECT IMPLEMENTATION

-HEAD-

Sec. 856. Repealed. Pub. L. 103-429, Sec. 7(a)(1), Oct. 31, 1994,

108 Stat. 4388

-MISC1-

Section, Pub. L. 94-210, title VII, Sec. 708, as added Pub. L.

102-533, Sec. 4(a), Oct. 27, 1992, 106 Stat. 3516, directed

Secretary to develop and report to Congress within one year after

Oct. 27, 1992, on a program master plan for improvements in

passenger service between Boston and New York. See section 24903 of

Title 49, Transportation.

EFFECTIVE DATE OF REPEAL

Section 7(a)(1) of Pub. L. 103-429 provided that the repeal by

that section is effective July 5, 1994.

-End-