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45 U.S.C. § 1301 — Findings
Federal law — U.S. Code and appendices · legal_authorities
The Congress finds that—
(1) the bankruptcy of the Penn Central and other railroads in the Northeast and Midwest resulted in a transportation emergency which required the intervention of the Federal Government;
(2) the United States Government created the Consolidated Rail Corporation, which provides essential rail service to the Northeast and Midwest;
(3) the future of rail service in the Northeast and Midwest is essential and must be protected through rail service obligations, consistent with the transfer of the Corporation to the private sector;
(4) the Northeast Rail Service Act of 1981 has achieved its purpose in allowing the Corporation to become financially self-sustaining;
(5) the Federal Government has invested over $7,000,000,000 in providing rail service to the Northeast and Midwest;
(6) the Government, as a result of its ownership and investment of taxpayer dollars in the Corporation, controls substantial assets, including cash of approximately $1,000,000,000;
(7) the Corporation’s viability and sound performance allow it to be sold to the American public for a substantial sum through a public offering;
(8) a public offering of the Corporation’s stock will preserve competitive rail service in the region, provide a reasonable return to the Government, and protect employment;
(9) the Corporation’s employees contributed significantly to the turnaround in the Corporation’s financial performance and they should share in the Corporation’s success through a settlement of their claims for reimbursement for wages below industry standard, and a share in the common equity of the Corporation;
(10) the requirements of section 761(e) 11 See References in Text note below. of this title are met by this chapter; and
(11) the Secretary of Transportation has dischar
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Source location: Title 45, Chapter 22, § 1301; chapter-022-conrail-privatization.md
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The Congress finds that—
(1) the bankruptcy of the Penn Central and other railroads in the Northeast and Midwest resulted in a transportation emergency which required the intervention of the Federal Government;
(2) the United States Government created the Consolidated Rail Corporation, which provides essential rail service to the Northeast and Midwest;
(3) the future of rail service in the Northeast and Midwest is essential and must be protected through rail service obligations, consistent with the transfer of the Corporation to the private sector;
(4) the Northeast Rail Service Act of 1981 has achieved its purpose in allowing the Corporation to become financially self-sustaining;
(5) the Federal Government has invested over $7,000,000,000 in providing rail service to the Northeast and Midwest;
(6) the Government, as a result of its ownership and investment of taxpayer dollars in the Corporation, controls substantial assets, including cash of approximately $1,000,000,000;
(7) the Corporation’s viability and sound performance allow it to be sold to the American public for a substantial sum through a public offering;
(8) a public offering of the Corporation’s stock will preserve competitive rail service in the region, provide a reasonable return to the Government, and protect employment;
(9) the Corporation’s employees contributed significantly to the turnaround in the Corporation’s financial performance and they should share in the Corporation’s success through a settlement of their claims for reimbursement for wages below industry standard, and a share in the common equity of the Corporation;
(10) the requirements of section 761(e) 11 See References in Text note below. of this title are met by this chapter; and
(11) the Secretary of Transportation has discharged the responsibilities of the Department of Transportation under the Northeast Rail Service Act of 1981 with respect to the sale of the Corporation as a single entity.
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Federal law — U.S. Code and appendices · legal_authorities
The Congress finds and declares that—
(1) the processes set in motion by the Regional Rail Reorganization Act of 1973 [[45 U.S.C. 701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section701&num=0&edition=prelim) et seq.] have failed to create a self-sustaining railroad system in the Northeast region of the United States and have cost United States taxpayers many billions of dollars over original estimates;
(2) current arrangements for the provision of rail freight and commuter service in the Northeast and Midwest regions of the United States are inadequate to meet the transportation needs of the public and the needs of national security;
(3) although the Federal Government has provided billions of dollars in assistance for Conrail and its employees, the Federal interest in ensuring the flow of interstate commerce through rail service in the private sector has not been achieved, and the protection of interstate commerce requires Federal intervention to preserve essential rail service in the private sector;
(4) the provisions for protection of employees of bankrupt railroads contained in the Regional Rail Reorganization Act of 1973 [[45 U.S.C. 701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section701&num=0&edition=prelim) et seq.] have resulted in the payment of benefits far in excess of levels anticipated at the time of enactment, have imposed an excessive fiscal burden on the Federal taxpayer, and are now an obstacle to the establishment of improved rail service and continued rail employment in the Northeast region of the United States; and
(5) since holding Conrail liable for employee protection payments would destroy its prospects of becoming a profitable carrier and further injure its employees, an alternative
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 1101
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 93–236, title VII, § 701, as added Pub. L. 97–35, title XI, § 1143(a), Aug. 13, 1981, 95 Stat. 661; Pub. L. 99–509, title IV, § 4024(a), (b), Oct. 21, 1986, 100 Stat. 1903, related to employee protection agreement.
#### Repeal of Section; Continuing Responsibilities of Consolidated Rail Corporation After Sale Date
Pub. L. 99–509, title IV, § 4024(c)–(f), Oct. 21, 1986, 100 Stat. 1904, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “(c) Repeal of Section 701.—Section 701 of the Regional Rail Reorganization Act of 1973 [[45 U.S.C. 797](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section797&num=0&edition=prelim)] is repealed effective on the sale date [Apr. 2, 1987, see [45 U.S.C. 702](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section702&num=0&edition=prelim)(17A)]. Notwithstanding this repeal—“(1) any dispute or controversy regarding benefits under section 701 shall be determined under the terms of the law in effect prior to such repeal; and “(2) the Railroad Retirement Board shall take such actions as may be necessary to complete administration and closeout of the section 701 program and the Board is authorized to receive and apply Corporation funds for this purpose. “(d) Continuing Responsibilities.—(1) On and after the sale date, the Corporation shall provide the protection for its employees described in ‘Part III, Article III, Employee Protection’, of the ‘Definitive Agreement of September 17, 1985, By and Between Conrail and the Undersigned Representatives of Conrail’s Agreement Employees’ and Appendix 3 thereto, together with any amendments thereto, or under any other terms and conditions as shall be agreed between the Corporation and the repr
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 797
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Special court; exclusive jurisdiction for civil actions** Notwithstanding any other provision of law, the special court shall have original and exclusive jurisdiction over any civil action—
(1) for injunctive, declaratory, or other relief relating to the enforcement, operation, execution, or interpretation of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.], or administrative action taken thereunder to the extent such action is subject to judicial review;
(2) challenging the constitutionality of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.];
(3) to obtain, inspect, copy, or review any document in the possession or control of the Secretary, Conrail, the United States Railway Association, or Amtrak that would be discoverable in litigation under any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.]; or
(4) seeking judgment upon any claim against the United States founded upon the Constitution and resulting from the operation of any provision of or amendment made by this subtitle or part 2 of the Conrail Privatization Act [[45 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1311&num=0&edition=prelim) et seq.].
**(b) Appeal** An order or judgment of the United States District Court for the District of Columb
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 1105
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The provisions of chapters 5 and 7 of title 5 (popularly known as the Administrative Procedure Act and including provisions popularly known as the Government in the Sunshine Act), chapter 10 of title 5, section 102(2)(C) of the National Environmental Policy Act of 1969 [[42 U.S.C. 4332(2)(C)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section4332/2/C&num=0&edition=prelim)], division A of subtitle III of title 54, and [section 303 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section303&num=0&edition=prelim) are inapplicable to actions taken in negotiating, approving, or implementing service transfers under title IV of the Regional Rail Reorganization Act of 1973 [[45 U.S.C. 761](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section761&num=0&edition=prelim) et seq.] 11 See References in Text note below. and to the implementation of the sale of the interest of the United States in Conrail under the Conrail Privatization Act [[45 U.S.C. 1301](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section1301&num=0&edition=prelim) et seq.].
**(b)** The operation of trains by Conrail shall not be subject to the requirement of any State or local law which specifies the minimum number of crew members who must be employed in connection with the operation of such trains.
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 1116
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Treatment as new corporation**
(1) **In general** — For periods after the public sale, for purposes of title 26, Conrail shall be treated as a new corporation which purchased all of its assets as of the beginning of the day after the date of the public sale for an amount equal to the deemed purchase price.
(2) **Allocation among assets** — The deemed purchase price shall be allocated among the assets of Conrail in accordance with the temporary regulations prescribed under [section 338 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section338&num=0&edition=prelim) (as such regulations were in effect on October 21, 1986). The Secretary shall establish specific guidelines for carrying out the preceding sentence so that the basis of each asset will be clearly ascertainable. For purposes of applying the regulations referred to in the first sentence, accounts receivable and materials and supplies shall be treated as cash equivalents.
(3) **Deemed purchase price** — For purposes of this subsection, the deemed purchase price is an amount equal to the gross amount received pursuant to the public sale, multiplied by a fraction—
(A) the numerator of which is 100 percent, and
(B) the denominator of which is the percentage (by value) of the stock of Conrail sold in the public sale.
The amount determined under the preceding sentence shall be adjusted under regulations prescribed by the Secretary for liabilities of Conrail and other relevant items.
**(b) No income from cancellation of debt or preferred stock** No amount shall be included in the gross income of any person by reason of any cancellation of any obligation (or preferred stock) of Conrail in connection with the public sale.
**(c) Disallowance of certain deductions** No d
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 1347
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter, unless the context otherwise requires—
(1) “Association” means the United States Railway Association, established under [section 711 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section711&num=0&edition=prelim);
(2) “Commission” means the Interstate Commerce Commission;
(3) “Commuter authority” means any State, local, or regional authority, corporation, or other entity established for purposes of providing commuter service, and includes the Metropolitan Transportation Authority, the Connecticut Department of Transportation, the Maryland Department of Transportation, the Southeastern Pennsylvania Transportation Authority, the New Jersey Transit Corporation, the Massachusetts Bay Transportation Authority, the Port Authority Trans-Hudson Corporation, any successor agencies, and any entity created by one or more such agencies for the purpose of operating, or contracting for the operation of, commuter service;
(4) “Commuter service” means short-haul rail passenger service operated in metropolitan and suburban areas, whether within or across the geographical boundaries of a State, usually characterized by reduced fare, multiple-ride, and commutation tickets, and by morning and evening peak period operations;
(5) “Corporation” means the Consolidated Rail Corporation required to be established under [section 741 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section741&num=0&edition=prelim) or its successor by merger, consolidation or other form of succession carried out under applicable law for the purpose of changing the State of its incorporation;
(6) “effective date of the final system plan” means the date on which the final system plan or any revised final system plan
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 702
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There shall be established within 300 days after January 2, 1974, in accordance with the provisions of this section, a corporation to be known as the Consolidated Rail Corporation or such other corporate name as may be duly adopted by the Corporation.
**(b) Status** The Corporation shall be a for-profit corporation established under the laws of a State and shall not be an agency or instrumentality of the Federal Government. The Corporation shall be deemed a rail carrier subject to part A of subtitle IV of title 49, shall be subject to the provisions of this Act and, to the extent not inconsistent with such Act and subtitle IV of title 49, shall be subject to applicable State law. The principal office of the Corporation or of its principal railroad operating subsidiary shall be located in Philadelphia in the Commonwealth of Pennsylvania.
**(c) Incorporators**
(1) The members of the executive committee of the Association shall be the incorporators of the Corporation and shall take whatever steps are necessary to establish the Corporation, including the filing of articles of incorporation.
(2) Notwithstanding any provision of State law, after February 5, 1976, the members of the executive committee of the Association (including duly authorized representatives of members who are authorized by this chapter to be represented) and the chief executive officer and chief operating officer of the Corporation shall adopt the bylaws of the Corporation and serve as the Board of Directors of the Corporation until all members of the Board of Directors of the Corporation have been selected in accordance with subsection (d) of this section. The chief executive officer shall serve as chairman of such Board until a chairman thereof is selected pursuant to subsecti
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Federal law — U.S. Code and appendices · legal_authorities
Page 261
TITLE 45—RAILROADS
§ 1303
1 See References in Text note below.
Sec.
1312.
Public offering.
1313.
Fees.
PART B—OTHER MATTERS RELATING TO SALE
1321.
Rail service obligations.
1322.
Ownership limitations.
1323.
Board of Directors.
1324.
Certain enforcement relief.
PART C—MISCELLANEOUS PROVISIONS
1341.
Abolition of United States Railway Associa-
tion.
1342.
Exemption from liability.
1343.
Charter amendment.
1344.
Status of Conrail after sale.
1345.
Effect on contracts.
1346.
Resolution of certain issues.
1347.
Tax treatment of Conrail public sale.
SUBCHAPTER I—GENERAL PROVISIONS
§ 1301. Findings
The Congress finds that—
(1) the bankruptcy of the Penn Central and
other railroads in the Northeast and Midwest
resulted in a transportation emergency which
required the intervention of the Federal Gov-
ernment;
(2) the United States Government created
the Consolidated Rail Corporation, which pro-
vides essential rail service to the Northeast
and Midwest;
(3) the future of rail service in the Northeast
and Midwest is essential and must be pro-
tected through rail service obligations, con-
sistent with the transfer of the Corporation to
the private sector;
(4) the Northeast Rail Service Act of 1981 has
achieved its purpose in allowing the Corpora-
tion to become financially self-sustaining;
(5) the Federal Government has invested
over $7,000,000,000 in providing rail service to
the Northeast and Midwest;
(6) the Government, as a result of its
ownership and investment of taxpayer dollars
in the Corporation, controls substantial as-
sets,
including
cash
of
approximately
$1,000,000,000;
(7) the Corporation’s viability and sound per-
formance allow it to be sold to the American
public for a substantial sum through a public
Source: Supplied 2024 U.S. Code historical extraction · 45 U.S.C. § 1301
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