Rail Amendments

Summary

Rail Amendments - Title I: Amendments to the Regional Rail Reorganization Act of 1973 - Amends the Regional Rail Reorganization Act of 1973 the make the performance of the functions of the Office of Rail Public Counsel the responsibility of the Rail Services Planning Office until a Director of the Office of Rail Public Counsel has taken office. Transfers the funds appropriated to the Rail Public Counsel, pursuant to the Railroad Revitalization and Regulatory Reform Act of 1976, to the Director of the Rail Services Planning Office for such purpose. Grants immunity from liability for damages to the Consolidated Rail Corporation or its directors with respect to claims based solely on property transfers made by the Corporation to the National Railroad Passenger Corporation, or any State, local, or regional transportation authority to meet the needs of commuter or innercity rail passenger service. States that options conveyed to the Corporation by a railroad in reorganization with respect to the acquisition of rail properties pursuant to the final system plan by the Corporation, on behalf of a State, local, or regional transportation authority shall be deemed to remain in effect for seven days after the enactment of this Act. Increases the aggregate principal on loan agreements for payments of obligations which the United States Railway Association may enter into with the Consolidated Rail Corporation, the National Railroad Passenger Corporation, and profitable railroads from $230,000,000 to $450,000,000. Allows such obligations to include payments for claims deriving from membership in employee voluntary relief plans and employee medical and life insurance plans. Requires the Corporation to promptly make application to the Association for loan funds if the "cash and other current assets of the estates" of railroads in reorganization are insufficient to pay specified obligations. Specifies priorities for the disbursement of funds held in escrowed accounts by a railroad in reorganization which are determined to be "cash and other current assets of the estate" of such railroad. Increases the aggregate principal amount of obligations issued by the Association which may be outstanding at any one time from $275,000,000 to $495,000,000. Authorizes the Secretary of Transportation to make payments to the trustees of a railroad in reorganization for purposes of discharging obligations of such railroad to nonemployee claimants for personal injuries suffered during the reorganization period. Revises the basis for determining compensation for the use of rail properties or the value of such properties of railroads in reorganization. Allows States, responsible persons, or profitable railroads to acquire rail properties which were designates in the final system plan to be offered for sale to a profitable railroad but which were subsequently transferred to the Corporation after termination of such designation. Sets forth review procedures for such acquisition proposals. Entitles the Consolidated Rail Corporation, the National Railroad Passenger Corporation, an acquiring railroad or the United States Railway Association to a direct claim from the estate of a railroad in reorganization for amounts paid by such entities for specified employee claims against the railroad in reorganization. Revises the method for determining the monthly displacement allowance for protected employees adversely affected by railroad reorganzation. Makes the resolution procedures established by the Consolidated Rail Corporation the exclusive means available for resolving disputes between the Corporation and noncontract employees and stipulates that any arbitration decision shall be final with respect to such parties. Title II: Amendments to the Railroad Revitalization and Regulatory Reform Act of 1976 - Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to revise the time period during which railroads may apply to the Secretary of Transportation for financial assistance for facilities rehabilitation and improvement financing. States that the Secretary shall not consider the availability of obligations guaranteed under such Act in determining whether the assistance requested is available from other sources. Authorizes the Secretary to make redeemable preference shares purchased by him for rehabilitation and improvement financing subordinate to common stock under certain conditions. Sets forth prerequisites and conditions for obligations to be Federally guaranteed under such Act. Directs the Secretary to conduct a comprehensive study to freight transportation in the Midwest. Title III: Amendments to the Rail Passenger Service Act - Amends the Rail Passenger Service Act to exempt from provisions of the Public Health Service Act, relating to quarantines and inspections, waste disposals from railroad conveyances operated in intercity rail freight service, or maintenance service. Directs the Secretary of Health, Education, and Welfare to submit a report to Congress with repsect to the environmental effects of such exemption and the financial effects on the railroad industry of a repeal or modification of such exemption. Title IV: Amendments to the Interstate Commerce Act - Amends the Interstate Commerce Act to allow common carriers by railroad to enter into or operate under a contract with freight forwarders governing the transportation of property moving on the bills of lading of such freight forwarder and the compensation to be paid for such transportation. Requires that any such contract be filed with the Interstate Commerce Commission and that such agreement not unduly prefer or prejudice any of its participants or other freight forwarder. Removes the authority of the Commission with respect to the discontinuance or abandonment of any spur, industrial, team, switching, or side tracks which are located entirely in one State or any street, suburban, or interurban electric railway which is not operated as part of a general system of rail transportation.

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2 official files

• Passed House amended

  summary · EN · 27 September 1976

  Open at official source

• Introduced in House

  summary · EN · 28 July 1976

  Open at official source

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