Regional Rail Reorganization Act Amendments

Summary

Regional Rail Reorganization Act Amendments - Increases from $85,000,000 to $185,000,000 under the Regional Rail Reorganization Act, the sum authorized to be appropriated to the United States Railway Association for loans to railroads and specified corporations for specified purposes. Provides that, prior to the date upon which rail properties are conveyed to the Consolidated Rail Corporation under this Act, the Secretary of Transportation, with the approval of the United States Railway Association, is authorized to enter into agreements with the trustees of the railroads subject to bankruptcy proceedings: (1) to perform maintenance on designated rail properties until the date of conveyance under this Act; (2) to improve railroad facilities and equipment; and (3) to acquire railroad facilities or equipment for lease or loan. States that agreements pursuant to this Act shall contain such reasonable terms and conditions as the Secretary may prescribe. Directs the Association to issue obligations to finance such agreements and requires the Corporation to assume any such obligations. States the aggregate amount of obligations outstanding at any one time shall not exceed $300,000,000.

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Documents

2 official files

• Laid on table in House

  summary · EN · 19 February 1975

  Open at official source

• Introduced in House

  summary · EN · 23 January 1975

  Open at official source

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