Non Carrier Railroad Acquisition Act of 1980

Summary

Non Carrier Railroad Acquisition Act of 1980 - Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to require the Secretary of Transportation to purchase: (1) not less than $50,000,000 in redeemable preference shares or trustee certificates convertible to specified redeemable preference shares as necessary for the purchase, lease, or rehabilitation of properties of the Rock Island Railroad by noncarrier entities to be used for common carrier rail service; and (2) not more than $36,000,000 in such preference shares or trustee certificates as necessary for the purchase of properties of the Milwaukee Railroad by responsible noncarrier entities to be used for common carrier rail service. Directs that a specified portion of such funding be made available from net revenues from the windfall profits tax allocated for energy and transportation programs.

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Timeline

1. 24 July 1980

   Introduced

   Referred to Senate Committee on Commerce, Science, and Transportation.

   Source: IntroReferral

2. 24 July 1980

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 24 July 1980

  Open at official source

Sponsors

• Sen. Culver, John C. [D-IA] · D · Sponsor
• Sen. McGovern, George [D-SD] · D · Cosponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Cosponsor
• Sen. Jepsen, Roger W. [R-IA] · R · Cosponsor
• Sen. Exon, J. James [D-NE] · D · Cosponsor
• Sen. Bumpers, Dale [D-AR] · D · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• · sscm00 · Standing

Related records

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