Passenger Rail Investment Reform Act

Summary

Passenger Rail Investment Reform Act - Amends Federal transportation law to require the restructuring of Amtrak into successor corporations named the Passenger Rail Service Provider (Provider) and the Passenger Rail Infrastructure Manager (Manager). Reorganizes the Board of Directors into a transition board, which shall prepare the restructuring plan. Grants the Provider the exclusive right for three years to continue to provide intercity passenger rail service currently provided by Amtrak; but after three years only under a contract. Grants the Manager the exclusive right for six years to continue to provide the dispatching, maintenance, and infrastructure services currently provided by Amtrak; but after six years only under a contract. Authorizes the States and the District of Columbia that constitute the Northeast Corridor (NEC) to enter into a multistate Northeast Corridor Compact, subject to congressional approval, to provide passenger rail service and conduct related activities in the NEC. Establishes a Northeast Corridor Compact Commission to prepare such compact, which shall provide for full authority for 99 years to succeed to the responsibilities of Amtrak as NEC operator, subject to a 99-year lease from the Department of Transportation. Prescribes general requirements of the compact to protect employee interests. Authorizes the Secretary of Transportation to develop a program for employee transition assistance. Authorizes the Secretary, after the first fiscal year following enactment of this Act, to make grants for operating assistance, according to a specified formula, to reimburse operators of long-distance routes and corridor feeder routes for their intercity passenger rail operating expenses. Specifies conditions and limitations on the availability of grants to Amtrak, including preparation of a capital spending plan, before its successor corporations are established and commence operations. Prescribes procedures for redemption and disposition of Amtrak stock and the transfer of assets to the successor corporations and/or the Compact, as well as real estate, facilities, and secured debt. Authorizes the Secretary to make grants to an applicant State, interstate compact, or public agency to assist in financing the capital costs of facilities and equipment necessary to provide intercity passenger rail transportation. Authorizes interested States to enter into interstate compacts for corridor development.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 July 2003

   Introduced

   Read twice and referred to the Committee on Commerce, Science, and Transportation. (text of measure as introduced: CR S10278-10285)

   Source: IntroReferral

2. 30 July 2003

   Introduced

   Sponsor introductory remarks on measure. (CR S10278)

   Source: IntroReferral

3. 30 July 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 2 October 2003

   Committee

   Committee on Commerce, Science, and Transportation. Hearings held. Hearings printed: S.Hrg. 108-994.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 30 July 2003 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 30 July 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 30 July 2003

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 30 July 2003

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. McCain, John [R-AZ] · R · Sponsor
• · sscm00 · Standing

Related records

• related to → Passenger Rail Investment Reform Act