Rail Passenger Service Act Amendments of 1983

Summary

Rail Passenger Service Act Amendments of 1983 - Amends the Rail Passenger Service Act to provide that the two members of the board of directors of the National Railroad Passenger Corporation (Amtrak) which are selected by the preferred stockholders shall serve until their successors have been appointed. Provides that the preferred stock issued by the Corporation shall be deemed to have been issued as of the date the Corporation receives the funds for such stock. Authorizes the Corporation to issue preferred stock at par value to the Federal Financing Bank to: (1) repay principal and interest owed to such bank; (2) fund obligations under leases guaranteed by the Secretary of Transportation; and (3) fund the acquisition of titles to cars and locomotives. Directs the Secretary to exercise the rights of the United States as a shareholder of the Corporation. Provides that the authority of the Secretary to guarantee obligations of the Corporation shall expire upon its satisfaction of such obligations. Repeals provisions which established and set forth the duties of the Performance Evaluation Center within the Corporation. Eliminates requirements for monthly performance reports. Requires the Corporation to report to Congress not later than February 15 of each year on its intercity rail passenger service, including data on ridership, short-term avoidable profit or loss per passenger mile, revenue-to-cost ratio, revenues, the Federal and non-Federal subsidies, and on-time performance. Provides that beginning October 1, 1983, the Corporation may continue service on routes where the Secretary recommends discontinuance if the Corporation and the affected State enter into an agreement to ensure that specified criteria are met. Revises such criteria to remove requirements to calculate passenger mile per train mile on such routes. States that trade secrets and commercial or financial information prepared by the Corporation are not subject to public disclosure requirements. Authorizes appropriations for the Corporation for FY 1984 and 1985. Grants the Comptroller General discretionary authority to make performance audits of the Corporation. (Currently the Comptroller General is required to make such audits annually.)

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Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 9 May 1983

  Open at official source

• Introduced in Senate

  summary · EN · 20 April 1983

  Open at official source

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