§ 716. Final system plan

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Regional Rail Reorganization Act of 1973

   Pub. L. 93–236 title II § 206 · 87 Stat. 985

   Enacted · 45 U.S.C. § 716

   Pub. L. 93–236, title II, § 206, Jan. 2, 1974, 87 Stat. 994

   Source evidence

   Code source credit
   Pub. L. 93–236, title II, § 206, Jan. 2, 1974, 87 Stat. 994

   Enacted provision · exact public law section
   Sec. 206. final system plan (a) Goals.— The final system plan shall be formulated in such a way as to effectuate the following goals: (1) the creation, through a process of reorganization, of a financially self-sustaining rail service system in the region; (2) the estalishment and maintenance, of a rail service system adequate to meet the rail transportation needs and service requirements of the region; (3) the establishment of improved high-speed rail passenger service, consonant with the recommendations of the Secretary in his report of September 1971, entitled “Recommendations for Northeast Corridor Transportation”; (4) the preservation, to the extent consistent with other goals, of existing patterns of service by railroads (including short-line and terminal railroads), and of existing railroad trackage in areas in which fossil fuel natural resources are located, and the utilization of those modes of transportation in the region which require the smallest amount of scarce energy resources and which can most efficiently transport energy resources; (5) the retention and promotion of com pet i t ion in the provision of rail and other transportation services in the region; (6) the attainment and maintenance of any environmental standards, particularly the applicable national ambient air quality standards and plans established under the Clean Air Act Amendments of 1970, taking into consideration the environmental impact 84 Stat. 1676. 42 USC 1857b note. of alternative choices of action; (7) the movement of passengers and freight in rail transportation in the region in the most efficient manner consistent with safe operation, including the requirements of commutter and intercity rail passenger service; the extent to which there should be coordination with the National Railroad Passenger Corporation and similar entities; and the identification of all short-to-medium distance corridors in densely populated areas in which the major upgrading of rail lines for high-speed passenger operation would return substantial public benefits; and (8) the minimization of job losses and associated increases in unemployment and community benefit costs in areas in the region presently served by rail service. (b) Factors.— The final system plan shall be based upon due consideration of all factors relevant to the realization of the goals set forth in subsection (a) of this section. Such factors include the need for and the cost of rehabilitation and modernization of track, equipment, and other facilities; methods of achieving economies in the cost, of rail operations in the region; means of achieving rationalization of rail services and the rail service system in the region; marketing studies; the impact on railroad employees; consumer needs; traffic analyses; financial studies; and any other factors identified by the Association under section 202(b) of this title or in the report of the Secretary required under section 204(a) of this title. (c) Designations.— The final system plan shall designate— (1) which rail properties of railroads in reorganization in the region or of railroads leased, operated, or controlled by any railroad in reorganization in the region— (A) shall be transferred to the Corporation; (B) shall be offered for sale to a profitable railroad operating in the region and, if such offer is accepted, operated by such railroad; the plan shall designate what additions shall be made to the designation under subparagraph (A) of this paragraph in the event such profitable railroad fails to accept such offer; (C) shall be purchased, leased, or otherwise acquired from the Corporation by the National Railroad Passenger Corporation in accordance with the exercise of its option under section 601(d) of this Act for improvement to achieve the goal Post, p. 1021. set forth in subsection (a)(3) of this section; (D) may be purchased or leased from the Corporation by a State or a local or regional transportation authority to meet the needs of commuter and intercity rail passenger service; and (E) if not otherwise required to be operated by the Corporation, a government entity, or a responsible person, are suitable for use for other public purposes, including highways, other forms of transportation, conservation, energy transmission, education or health care facilities, or recreation. In carrying out this subparagraph, the Association shall solicit the views and recommendations of the Secretary, the Secretary of the Interior, the Administrator of the Environmental Protection Agency, and other agencies of the Federal Government and of the States and political subdivisions thereof within the region, and the general public; mid (2) which rail properties of profitable railroads operating in the region may be offered for sale to the Corporation or to other profitable railroads operating in the region subject to paragraphs (3) and (4) of subsection (d) of this section. (d) Transfers.— All transfers or conveyances pursuant to the final system plan shall be made in accordance with, and subject to, the following principles: (1) All rail properties to be transferred to the Corporation by a profitable railroad, by trustees of a railroad in reorganization, or by any railroad leased, operated, or controlled by a railroad in reorganization in the region, shall be transferred in exchange for stock and other securities of the Corporation (including obligations of the Association) and the other benefits accruing to such railroad by reason of such transfer. (2) All rail properties to be conveyed to a profitable railroad operating in the region by trustees of a railroad in reorganization, or by any railroad leased, operated, or controlled by a railroad in reorganization in the region, shall he conveyed in exchange for compensation from the profitable railroad. (3) Notwithstanding any other provision of this Act, no acquisition under this Act shall be made by any profitable railroad operating in the region without a determination with respect to each such transaction and all such transactions cumulatively (A) by the Association, upon adoption and release of the preliminary system plan, that such acquisition or acquisitions will not materially impair the profitability of any other profitable railroad operating in the region or of the Corporation, and (B) by the Commission, which shall be made within 90 days after adoption and release by the Association of the preliminary system plan, that such acquisition or acquisitions will be, in full accord and comply with the provisions and standards of section 5 of part I 24 Stat. 380; 79 Stat. 284. of the Interstate Commerce Act (49 U.S.C. 5). The determination by the Association shall not be reviewable in any court. The determination by the Commission shall not be reviewable in any court. (4) Where the final system plan designates specified rail properties of a railroad in reorganization in the region, or of a railroad leased, operated, or controlled by a railroad in reorganization in the region, to be offered for sale to and operated by a profitable railroad operating in the region, such designation shall terminate 30 days after the effective date of the final system plan unless, prior to such date, such profitable railroad has notified the Association in writing of its acceptance of such offer. Where the. final system plan designates specified rail properties of a profitable railroad operating in the region as authorized to be offered for sale or lease to the Corporation or to other profitable railroads operating in the region, such designation and authorization shall terminate 60 days after the effective date of the final system plan unless, prior to such date, a binding agreement with respect to such properties has been entered into and concluded. (5) All properties sold by the Corporation pursuant to sections 206(c)(1)(C) and 601(d) of this Act shall be transferred at a Post, p. 1021. value related to the value received for the transfer to the Corporation of such properties. (e) Corporation Features.— The final system plan shall set forth— (1) pro forma earnings for the Corporation, as reasonably projected and considering the additions or changes in the designation of rail properties to be operated by the Corporation which may be made under subsection (d)(4) of this section; (2) the capital structure of the Corporation, based on the pro forma earning’s of the Corporation as set forth, including such debt capitalization as shall be reasonably deemed to conform to the requirements of the public interest with respect to railroad debt securities, including the adequacy of coverage of fixed charges; and (3) the manner in which employee stock ownership plans may, to the extent practicable, be utilized for meeting the capitalization requirements of the Corporation, taking into account (A) the relative cost savings compared to conventional methods of corporate finance; (B) the labor cost savings; (C) the potential for minimizing strikes and producing more harmonious relations between labor organizations and railway management; (D) the projected employee dividend incomes; (E) the impact on quality of service, and prices to railway users; and (F) the promotion of the objectives of this Act of creating a financially self-sustaining railway system in the region which also meets the service needs of the region and the Nation. (f) Value.— The final system plan shall designate the value of all rail properties to be transferred under the final system plan and the value of the securities and other benefits to be received for transferring those rail properties to the Corporation in accordance with the final system plan. (g) Other Provisions.— The final system plan may recommend arrangements among various railroads for joint use or operation of rail properties on a shared ownership, cooperative, pooled, or condominium-type basis, subject to such terms and conditions as may be specified in the final system plan. The final system plan shall also make, such designations as are determined to be necessary in accordance with the provisions of section 402 or 403 of this Act. (h) Obligational Authority.— The final system plan shall recommend the amount of obligations of the Association which are necessary to enable it to implement the final system plan. (i) Terms and Conditions for Securities.— The final system plan may include terms and conditions for any securities to be issued by the Corporation in exchange for the conveyance of rail properties under the final system plan which in the judgement of the Association will minimize any actual or potential debt burden on the Corporation. Any Congressional approval. such terms and conditions for securities of the Corporation which purport to directly obligate the Association shall not become effective without affirmative approval, with or without modification by a joint resolution of the Congress.

2. 1975

   Regional Rail Reorganization Act Amendments of 1975

   Pub. L. 94–5 § 2(b) · 89 Stat. 7

   Inserted · 45 U.S.C. § 716(a)(1)

   Pub. L. 94–5 inserted “and express” after “rail”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 94–5 inserted “and express” after “rail”.

   Enacted provision · exact public law section
   (b) Section 206(a)(1) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(a)(1)) is amended by inserting “and express” immediately after “rail”.

3. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(g) · 90 Stat. 31

   Inserted · 45 U.S.C. § 716(c)(1)(A)

   Pub. L. 94–210, § 607(g), inserted proviso relating to notice by the Corporation to the Association

   Source evidence

   Code amendment note
   Subsec. (c)(1)(A). Pub. L. 94–210, § 607(g), inserted proviso relating to notice by the Corporation to the Association.

   Enacted provision · exact public law section
   (g) Section 206(c) (1) (A) of such Act (45 U.S.C. 716(c) (1) (A)) is amended by striking out the semicolon and inserting in lieu thereof the following: “: Provided, That the Corporation shall, within 95 days after the effective date of the final system plan, give notice to the Association of which such rail properties, if any, are to be transferred to a subsidiary of the Corporation in the event that the Board of Directors of the Association finds that such transfer would be consistent with the final system plan;”.

4. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(f) · 90 Stat. 31

   Inserted · 45 U.S.C. § 716(c)(1)(B)

   Pub. L. 94–210, § 607(f), inserted provision relating to alternative designations to be made under this paragraph

   Source evidence

   Code amendment note
   Subsec. (c)(1)(B). Pub. L. 94–210, § 607(f), inserted provision relating to alternative designations to be made under this paragraph.

   Enacted provision · exact public law section
   (f) Section 206(c) (1) (B) of such Act (45 U.S.C. 716(c) (1) (B)) is amended by inserting immediately after “paragraph” the following: “and what alternative designations shall be made under this paragraph”.

5. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(j) · 90 Stat. 31

   1. Amended · 45 U.S.C. § 716(c)(1)(D)

      Pub. L. 94–210, § 607(j), designated existing provision as cl. (i)

   2. Added · 45 U.S.C. § 716(c)(1)(D)

      Pub. L. 94–210, § 607(j), added cl. (ii)

   Source evidence

   Code amendment note
   Subsec. (c)(1)(D). Pub. L. 94–210, § 607(j), designated existing provision as cl. (i) and added cl. (ii).

   Enacted provision · exact public law section
   (j) Section 206(c) (1) (D) of such Act (45 U.S.C. 716(c) (1) (D)) is amended by— (1) inserting immediately after “by” the following “(i)”; and (2) striking out “; and” at the end thereof and adding the following: “, or (ii) the National Railroad Passenger Corporation to meet the needs of improved rail passenger service over intercity routes, other than properties designated pursuant to subparagraph (C) of this paragraph; and”.

6. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(h) · 90 Stat. 31

   Inserted · 45 U.S.C. § 716(c)(2)

   Pub. L. 94–210, § 607(h), inserted provision relating to sale of designated properties to a subsidiary of the Corporation

   Source evidence

   Code amendment note
   Subsec. (c)(2). Pub. L. 94–210, § 607(h), inserted provision relating to sale of designated properties to a subsidiary of the Corporation.

   Enacted provision · exact public law section
   (h) Section 206(c)(2) of such Act (45 U.S.C. 716(c)(2)) is amended by adding at the end thereof the following new sentence: “Any rail properties designated to be offered for sale to the Corporation may lie sold instead to a subsidiary of the Corporation.”.

7. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(i) · 90 Stat. 31

   Inserted · 45 U.S.C. § 716(d)(1)

   Pub. L. 94–210, § 607(i), inserted “or any subsidiary thereof” after “Corporation” wherever appearing

   Source evidence

   Code amendment note
   Subsec. (d)(1). Pub. L. 94–210, § 607(i), inserted “or any subsidiary thereof” after “Corporation” wherever appearing.

   Enacted provision · exact public law section
   (i) Sections 206(d)(1). 209 (c) and (d), 215(d). 304(e), and 501 (1) and (2) of such Act (45 U.S.C. 716(d)(1), 719(c) and (d), 744 (e), and 771 (1) and (2)) are amended by inserting after “Corporation” 45 USC 716, 719, 725, 744, 771. each time it appeal’s the following: “or any subsidiary thereof”.

8. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607(e) · 90 Stat. 31

   Inserted · 45 U.S.C. § 716(d)(3)

   Pub. L. 94–210, § 607(e), inserted provisions relating to correction to the preliminary system plan published in 40 Fed. Reg. 16377, determinations made with respect to such correction by the Commission, and determinations made with respect to acquisitions referred to in any supplement to the preliminary system plan

   Source evidence

   Code amendment note
   Subsec. (d)(3). Pub. L. 94–210, § 607(e), inserted provisions relating to correction to the preliminary system plan published in 40 Fed. Reg. 16377, determinations made with respect to such correction by the Commission, and determinations made with respect to acquisitions referred to in any supplement to the preliminary system plan.

   Enacted provision · exact public law section
   (e) Section 206(d)(3) of such Act (45 U.S.C. 716(d)(3)) is amended by inserting after the first sentence thereof the following three new sentences: “All determinations made by the Association in the correction to the preliminary system plan published on April 11, 1975 (40 Fed. Reg. 16377), shall be treated for all purposes as if they had been made upon adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to such correction shall be treated for all purposes as if they had been made within 90 days after adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to acquisitions by profitable railroads referred to in any supplement to the preliminary system plan pub-lished under section 207 (b) (2) of this title shall be deemed to be timely 45 USC 717. if made prior to the adoption of the final system plan under section 207(c) of this title.”.

9. 1976

   Railroad Revitalization and Regulatory Reform Act of 1976

   Pub. L. 94–210 § 607 · 90 Stat. 31

   1. Inserted · 45 U.S.C. § 716(d)(4)

      Pub. L. 94–210, § 607(o), inserted provision relating to modification of offer until the date of acceptance

   2. Substituted · 45 U.S.C. § 716(d)(4)

      Pub. L. 94–210, § 607(o), substituted “95” for “60”

   3. Substituted · 45 U.S.C. § 716(d)(4)

      Pub. L. 94–210, § 607(o), substituted “7 days after February 5, 1976,” for “30 days after the effective date of the final system plan”

   Source evidence

   Code amendment note
   Subsec. (d)(4). Pub. L. 94–210, § 607(o), inserted provision relating to modification of offer until the date of acceptance, and substituted “95” for “60” and “7 days after February 5, 1976,” for “30 days after the effective date of the final system plan”.

   Enacted provision · exact public law section
   Sec. 607. miscellaneous amendments to title ii (a) Section 201(j) of such Act (45 U.S.C. 711(j)), as redesignated by section 603(a) of this Act, is amended by adding at the end thereof the following new paragraph: “(4) Any reference in this Act to the Secretary of the Treasury is to the Secretary of the Treasury or the person at the time performing the duties of the Office of the Secretary of the Treasury in accordance with law or the duly authorized representative of either of them. Any reference in this Act to the Chairman of the Commission is to the Chairman of the Commission or the person at the time performing the duties of the Chairman of the Commission in accordance with law, or the duly authorized representative of either of them.”. (b) Section 202(e) of such Act (45 U.S.C. 712(e)) is amended by inserting after “obligations issued” and before “and loans” in clause (4) thereof the following: “, certificates of value issued, securities purchased.”. (c) Section 202(f) of such Act (45 U.S.C. 712(f)) is amended by inserting after “section” and before “)” in the first sentence thereof the following: “and receipts and disbursements under section 216 of this Ante, p. 89; Post, p. 104. title and section 306 of this Act.”. (d) Section 203(a) of such Act (45 U.S.C. 713(a)) is amended by striking out the last sentence thereof. (e) Section 206(d)(3) of such Act (45 U.S.C. 716(d)(3)) is amended by inserting after the first sentence thereof the following three new sentences: “All determinations made by the Association in the correction to the preliminary system plan published on April 11, 1975 (40 Fed. Reg. 16377), shall be treated for all purposes as if they had been made upon adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to such correction shall be treated for all purposes as if they had been made within 90 days after adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to acquisitions by profitable railroads referred to in any supplement to the preliminary system plan pub-lished under section 207 (b) (2) of this title shall be deemed to be timely 45 USC 717. if made prior to the adoption of the final system plan under section 207(c) of this title.”. (f) Section 206(c) (1) (B) of such Act (45 U.S.C. 716(c) (1) (B)) is amended by inserting immediately after “paragraph” the following: “and what alternative designations shall be made under this paragraph”. (g) Section 206(c) (1) (A) of such Act (45 U.S.C. 716(c) (1) (A)) is amended by striking out the semicolon and inserting in lieu thereof the following: “: Provided, That the Corporation shall, within 95 days after the effective date of the final system plan, give notice to the Association of which such rail properties, if any, are to be transferred to a subsidiary of the Corporation in the event that the Board of Directors of the Association finds that such transfer would be consistent with the final system plan;”. (h) Section 206(c)(2) of such Act (45 U.S.C. 716(c)(2)) is amended by adding at the end thereof the following new sentence: “Any rail properties designated to be offered for sale to the Corporation may lie sold instead to a subsidiary of the Corporation.”. (i) Sections 206(d)(1). 209 (c) and (d), 215(d). 304(e), and 501 (1) and (2) of such Act (45 U.S.C. 716(d)(1), 719(c) and (d), 744 (e), and 771 (1) and (2)) are amended by inserting after “Corporation” 45 USC 716, 719, 725, 744, 771. each time it appeal’s the following: “or any subsidiary thereof”. (j) Section 206(c) (1) (D) of such Act (45 U.S.C. 716(c) (1) (D)) is amended by— (1) inserting immediately after “by” the following “(i)”; and (2) striking out “; and” at the end thereof and adding the following: “, or (ii) the National Railroad Passenger Corporation to meet the needs of improved rail passenger service over intercity routes, other than properties designated pursuant to subparagraph (C) of this paragraph; and”. (k) Section 210(c) of such Act (45 U.S.C. 720(c)) is amended by Guarantees. adding at the end thereof the following new sentence: “All guarantees entered into by the Secretary under this section shall constitute general obligations of the United States for the payment of which its full faith and credit are pledged.”. (l) Section 209(c) of such Act (45 U.S.C. 719(c)) is amended by striking out “obligations of the Association” each time it appears and inserting in lieu thereof “certificates of value of the Association”. (m) (1) Subsection (b) of section 214 of such Act (45 U.S.C. Appropriation authorization. 724(b)) is amended by striking out “$5,000,000” and inserting in lieu thereof “$7,000,000”. (2) Section 214(c) of such Act is amended by striking out the period and inserting in lieu thereof “, and not to exceed $14,000,000 for the fiscal period which includes the period ending September 30, 1977.”. (n) Section 214(a) of such Act (45 U.S.C. 724(a)) is amended by Appropriation authorization. adding at the end thereof the following: “There are authorized to be appropriated to the Secretary such sums as may be necessary to discharge the obligations of the United States arising under section 303 (c) (5) of this Act.” Post, p. 109. (o) Paragraph (4) of section 206(d) of such Act (45 U.S.C. 716 (d)(4)) is amended— (1) in the first sentence thereof, by striking out “30 days after the effective date of the final system plan” and inserting in lieu thereof “7 days after the date of the enactment of the Railroad Revitalization and Regulatory Reform Act of 1976”; and in the Ante, p. 31. second sentence thereof, by striking out “60” and inserting in lieu thereof “95”; and (2) by inserting immediately after the first sentence thereof the following new sentence: “Any such offer may be modified until the date of acceptance thereof, unless such modification results in an offer for the sale of rail properties at less than the net liquidation value thereof.”. (p) Section 206(d) of such Act (45 U.S.C. 716(d)) is amended by adding at the end thereof the following new paragraph: “(6) Notwithstanding any statement to the contrary in the final system plan, a State (or a local or regional transportation authority) shall not be required to deliver to the Corporation a firm commitment to acquire rail properties designated to such State or authority prior to 7 days after the date of enactment of this paragraph.”. (q) Section 206 of such Act (45 U.S.C. 717(c)) is amended by adding at the end thereof the following new subsection: “(j) Any rail properties over which rail service was being provided as of the date of enactment of this Act, and which were recommended in the preliminary system plan for transfer to the Corporation, shall be deemed to be designated in the final system plan for transfer to the Corporation under subsection (c)(1)(A) of this section. Any designation in the final system plan, pursuant to subsection (c)(1) (B) of this section, of overhead trackage rights to be acquired by a profitable railroad operating in the region over specified rail properties to be acquired by the Corporation, where such designation noes not (1) authorize such profitable, railroad to interchange traffic with at least one railroad, or (2) provide for the connection of portions of such profitable railroad’s rail properties, and where the transfer of ownership of such rail properties (including trackage rights) to such profitable railroad was recommended in the preliminary system plan, and the Commission has made a determination with respect thereto, in accordance with subsection (d)(3) of this section, shall be deemed to authorize such profitable railroad to interchange traffic with the Corporation and any other profitable railroad connecting with such specified rail properties.”. (r) Section 209(c) of such Act (45 U.S.C. 719(c)) is amended by adding at the end thereof, without paragraph indentation, the following new sentences: “Notwithstanding any other provisions of this subsection and subsection (d) of this section, the time for the delivery of a certified copy of the final system plan shall be March 12, 1976, and may be extended to a date not more than 30 days thereafter, prescribed in a notice filed by the Association not later than February 10, 1976, with the special court, the Congress, and each court referred to in such subsection (d). Such notice shall contain the certification of the Association that an orderly conveyance of rail properties cannot reasonably be effected before the date for conveyance determined with respect to 45 USC 743. such notice. The time prescribed in section 303(a) of this Act snail be determined with respect to the date prescribed in such notice.”. (s) Section 209(c) (1) and (2) of such Act (45 U.S.C. 719(c) (1) and (2)) is amended by striking out “railroad leased” each time it appears therein and inserting in lieu thereof “person leased”. (t) Section 102(12) of such Act (45 U.S.C. 702(12)), as Ante, p. 86. redesignated by this Act, is amended (1) by inserting immediately before “which are used or usefid” the following: “(or a person owned, leased, or otherwise controlled by a railroad)”; and (2) by striking out “phase” and inserting in lieu thereof “phrase”.

10. 1976

    Railroad Revitalization and Regulatory Reform Act of 1976

    Pub. L. 94–210 § 807 · 90 Stat. 31

    Substituted · 45 U.S.C. § 716(d)(5)

    Pub. L. 94–210, § 807, restructured provisions and substituted provisions relating to valuation of transferred properties transferred by the Corporation and adjustment of such valuation, for provisions relating to valuation of transferred properties sold by the Corporation

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 94–210, § 807, restructured provisions and substituted provisions relating to valuation of transferred properties transferred by the Corporation and adjustment of such valuation, for provisions relating to valuation of transferred properties sold by the Corporation.

    Enacted provision · exact public law section
    Sec. 807. rail passenger service Section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended to read as follows: “(5) All properties— “(A) transferred by the Corporation pursuant to sections 206(c)(1)(C) and 601(d) of this Act; 45 USC 716, 791. “(B) transferred by the Corporation to any State (or local or regional transportation authority), pursuant to subsection (c) (1) (D) of this section, or “(C) transferred by the Corporation to any State, local or regional transportation authority, or the National Railroad Passenger Corporation, within 900 days after the date of conveyance, pursuant to section 303(b) (1) of this Act, to meet 45 USC 743. the needs of commuter or intercity rail passenger service, shall be transferred at a value related to the value received from the Corporation pursuant to the final system plan for the transfer to such Corporation of such properties. The value of any such properties, which are transferred pursuant to subparagraph (B) or (C) of this paragraph, shall be adjusted to reflect the value attributable to any applicable maintenance and improvement provided by the Corporation (to the extent the Corporation has not been released from the obligation to pay for such improvements) and the cost to the Corporation of transfer ring such properties.”.

11. 1976

    Railroad Revitalization and Regulatory Reform Act of 1976

    Pub. L. 94–210 § 607(p) · 90 Stat. 31

    Added · 45 U.S.C. § 716(d)(6)

    Pub. L. 94–210, § 607(p), added par. (6)

    Source evidence

    Code amendment note
    Subsec. (d)(6). Pub. L. 94–210, § 607(p), added par. (6).

    Enacted provision · exact public law section
    (p) Section 206(d) of such Act (45 U.S.C. 716(d)) is amended by adding at the end thereof the following new paragraph: “(6) Notwithstanding any statement to the contrary in the final system plan, a State (or a local or regional transportation authority) shall not be required to deliver to the Corporation a firm commitment to acquire rail properties designated to such State or authority prior to 7 days after the date of enactment of this paragraph.”.

12. 1976

    Railroad Revitalization and Regulatory Reform Act of 1976

    Pub. L. 94–210 § 607(q) · 90 Stat. 31

    Added · 45 U.S.C. § 716(j)

    Pub. L. 94–210, § 607(q), added subsec. (j)

    Source evidence

    Code amendment note
    Subsec. (j). Pub. L. 94–210, § 607(q), added subsec. (j).

    Enacted provision · exact public law section
    (q) Section 206 of such Act (45 U.S.C. 717(c)) is amended by adding at the end thereof the following new subsection: “(j) Any rail properties over which rail service was being provided as of the date of enactment of this Act, and which were recommended in the preliminary system plan for transfer to the Corporation, shall be deemed to be designated in the final system plan for transfer to the Corporation under subsection (c)(1)(A) of this section. Any designation in the final system plan, pursuant to subsection (c)(1) (B) of this section, of overhead trackage rights to be acquired by a profitable railroad operating in the region over specified rail properties to be acquired by the Corporation, where such designation noes not (1) authorize such profitable, railroad to interchange traffic with at least one railroad, or (2) provide for the connection of portions of such profitable railroad’s rail properties, and where the transfer of ownership of such rail properties (including trackage rights) to such profitable railroad was recommended in the preliminary system plan, and the Commission has made a determination with respect thereto, in accordance with subsection (d)(3) of this section, shall be deemed to authorize such profitable railroad to interchange traffic with the Corporation and any other profitable railroad connecting with such specified rail properties.”.

13. 1976

    Pub. L. 94–436 § 2 · 90 Stat. 1398

    Inserted · 45 U.S.C. § 716(d)(5)

    Pub. L. 94–436, § 2, inserted provision relieving the Corporation, its Board of Directors, and its individual directors from liability to any party by reason of the fact that the Corporation transferred property pursuant to section 743 of this title

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 94–436, § 2, inserted provision relieving the Corporation, its Board of Directors, and its individual directors from liability to any party by reason of the fact that the Corporation transferred property pursuant to section 743 of this title.

    Enacted provision · exact public law section
    Sec. 2. Section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended by adding at the end thereof the following new sentence: “The Corporation, its Board of Directors, and its individual directors shall not be liable to any party, for money damages or in any other manner, solely by reason of the fact that the Corporation transferred property pursuant to section 303 45 USC 743. of this Act to meet the needs of commuter or intercity rail passenger service, except as otherwise provided with respect to the Corporation pursuant to section 303(c)(2) of this Act.”.

14. 1976

    Pub. L. 94–436 § 4 · 90 Stat. 1398

    Added · 45 U.S.C. § 716(d)(7)

    Pub. L. 94–436, § 4, added par. (7)

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 94–436, § 4, added par. (7).

    Enacted provision · exact public law section
    Sec. 4. Section 206(d) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)) is amended by adding at the end thereof the following new paragraph: “(7) Notwithstanding any contrary provision in the options conveyed to the Corporation by railroads in reorganization, or railroads leased, operated, or controlled by a railroad in reorganization, with respect to the acquisition, on behalf of a State (or a local or regional transportation authority) of rail properties designated under section 206(c)(1)(D) of this title, such options shall not be deemed to have expired prior to 7 days after the date of enactment of this paragraph. The exercise by the Corporation of any such option shall be effective if it is made, prior to the expiration of such 7-day period, in the manner prescribed in such options.”.

15. 1976

    Rail Amendments of 1976

    Pub. L. 94–555 § 202(a) · 90 Stat. 2613

    Inserted · 45 U.S.C. § 716(d)(5)

    Pub. L. 94–555, § 202(a), inserted “or for purposes of providing rail marine freight floating service” after “intercity rail passenger service”

    Source evidence

    Code amendment note
    Subsec. (d)(5). Pub. L. 94–555, § 202(a), inserted “or for purposes of providing rail marine freight floating service” after “intercity rail passenger service”.

    Enacted provision · exact public law section
    (a) The last sentence of section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended by inserting immediately after “passenger service” the following: “or for purposes of providing rail marine freight floating service”.

16. 1976

    Rail Amendments of 1976

    Pub. L. 94–555 § 202(c) · 90 Stat. 2613

    Inserted · 45 U.S.C. § 716(d)(7)

    Pub. L. 94–555, § 202(c), inserted “by the Corporation pursuant to the final system plan” after “with respect to the acquisition”

    Source evidence

    Code amendment note
    Subsec. (d)(7). Pub. L. 94–555, § 202(c), inserted “by the Corporation pursuant to the final system plan” after “with respect to the acquisition”.

    Enacted provision · exact public law section
    (c) Section 206(d)(7) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(7)) is amended by inserting immediately after “acquisition” the following; “by the Corporation pursuant to the final system plan”.

17. 1978

    Pub. L. 95–611 § 4(a) · 92 Stat. 3089

    Substituted · 45 U.S.C. § 716(d)(5)(C)

    Pub. L. 95–611 substituted “3 years” for “900 days”

    Source evidence

    Code amendment note
    Subsec. (d)(5)(C). Pub. L. 95–611 substituted “3 years” for “900 days”.

    Enacted provision · exact public law section
    (a) Section 206(d) (5) (C) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d) (5) (C)) is amended by striking out “900 days” and inserting in lieu thereof “3 years”.

    Effective date note
    Pub. L. 95–611, § 4(b), Nov. 8, 1978, 92 Stat. 3090, provided that: “The amendment made by this Act [probably meaning this section 4, which amended section 716 of this title] shall be effective on January 2, 1974.”

20 of 20 references resolved to an enrolled provision