Milwaukee Railroad and Rock Island Railroad Amendments Act

Summary

Milwaukee Railroad and Rock Island Railroad Amendments Act - Amends the Milwaukee Railroad Restructuring Act to define a "financially responsible person" as one who is capable of paying the purchase price of a railroad line proposed to be acquired and is able to cover the cost of providing service over the line for at least two years. Revises procedures by which the Interstate Commerce Commission (ICC) oversees the purchase of bankrupt rail lines by such financially responsible persons. Amends the Rock Island Railroad Transition and Employee Assistance Act to declare that the ICC's authority to grant temporary operating approval for the use of Rock Island or Milwaukee Railroad facilities shall continue until a plan of reorganization or liquidation is approved by the ICC and the bankruptcy court.

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Documents

3 official files

• Passed Senate amended

  summary · EN · 2 March 1982

  Open at official source

• Reported to Senate with amendment(s)

  summary · EN · 14 December 1981

  Open at official source

• Introduced in Senate

  summary · EN · 20 November 1981

  Open at official source

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