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49 U.S.C. § 24907 — Note and mortgage
Federal law — U.S. Code and appendices · legal_authorities
**(a) General Authority.—** To secure amounts expended by the United States Government to acquire and improve rail property designated under section 206(c)(1)(C) and (D) of the Regional Rail Reorganization Act of 1973 ([45 U.S.C. 716(c)(1)(C)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section716/c/1/C&num=0&edition=prelim) and (D)), the Secretary of Transportation may obtain a note of indebtedness from, and make a mortgage agreement with, Amtrak to establish a mortgage lien on the property for the Government. The note and mortgage may not supersede section 24903.
**(b) Exemptions From Laws and Regulations.—** The note and agreement under subsection (a) of this section, and a transaction related to the note or agreement, are exempt from any United States, State, or local law or regulation that regulates securities or the issuance of securities. The note, agreement, or transaction under this section has the same immunities from other laws that section 601 of the Act ([45 U.S.C. 791](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section791&num=0&edition=prelim)) gives to transactions that comply with or carry out the final system plan. The transfer of rail property because of the note, agreement, or transaction has the same exemptions, privileges, and immunities that the Act ([45 U.S.C. 701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section701&num=0&edition=prelim) et seq.) gives to a transfer ordered or approved by the special court under section 303(b) of the Act ([45 U.S.C. 743(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section743/b&num=0&edition=prelim)).
**(c) Immunity From Liability and Indemnification.—** Amtrak, its board of directors, and its individual dir
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Source location: Title 49, Chapter 249, § 24907; chapter-249-northeast-corridor-improvement-program.md
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**(a) General Authority.—** To secure amounts expended by the United States Government to acquire and improve rail property designated under section 206(c)(1)(C) and (D) of the Regional Rail Reorganization Act of 1973 ([45 U.S.C. 716(c)(1)(C)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section716/c/1/C&num=0&edition=prelim) and (D)), the Secretary of Transportation may obtain a note of indebtedness from, and make a mortgage agreement with, Amtrak to establish a mortgage lien on the property for the Government. The note and mortgage may not supersede section 24903.
**(b) Exemptions From Laws and Regulations.—** The note and agreement under subsection (a) of this section, and a transaction related to the note or agreement, are exempt from any United States, State, or local law or regulation that regulates securities or the issuance of securities. The note, agreement, or transaction under this section has the same immunities from other laws that section 601 of the Act ([45 U.S.C. 791](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section791&num=0&edition=prelim)) gives to transactions that comply with or carry out the final system plan. The transfer of rail property because of the note, agreement, or transaction has the same exemptions, privileges, and immunities that the Act ([45 U.S.C. 701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section701&num=0&edition=prelim) et seq.) gives to a transfer ordered or approved by the special court under section 303(b) of the Act ([45 U.S.C. 743(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section743/b&num=0&edition=prelim)).
**(c) Immunity From Liability and Indemnification.—** Amtrak, its board of directors, and its individual directors are not liable because Amtrak has given or issued the note or agreement to the Government under subsection (a) of this section. Immunity granted under this subsection also applies to a transaction related to the note or agreement. The Government shall indemnify Amtrak, its board, and individual directors against costs and expenses actually and reasonably incurred in defending a civil action testing the validity of the note, agreement, or transaction.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Findings** The Congress finds and declares that—
(1) Essential rail service in the midwest and northeast region of the United States is provided by railroads which are today insolvent and attempting to undergo reorganization under the Bankruptcy Act.
(2) This essential rail service is threatened with cessation or significant curtailment because of the inability of the trustees of such railroads to formulate acceptable plans for reorganization. This rail service is operated over rail properties which were acquired for a public use, but which have been permitted to deteriorate and now require extensive rehabilitation and modernization.
(3) The public convenience and necessity require adequate and efficient rail service in this region and throughout the Nation to meet the needs of commerce, the national defense, the environment, and the service requirements of passengers, United States mail, shippers, States and their political subdivisions, and consumers.
(4) Continuation and improvement of essential rail service in this region is also necessary to preserve and maintain adequate national rail services and an efficient national rail transportation system.
(5) Rail service and rail transportation offer economic and environmental advantages with respect to land use, air pollution, noise levels, energy efficiency and conservation, resource allocation, safety, and cost per ton-mile of movement to such extent that the preservation and maintenance of adequate and efficient rail service is in the national interest.
(6) These needs cannot be met without substantial action by the Federal Government.
**(b) Purposes** It is therefore declared to be the purpose of Congress in this chapter to provide for—
(1) the identification of a rail service system in the midwest and
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 701
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Federal law — U.S. Code and appendices · legal_authorities
This subchapter may be cited as the “Securities Act of 1933”.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Antitrust**
(1) Except as specifically provided in paragraph (2) of this subsection, no provision of this chapter shall be deemed to convey to any railroad or employee or director thereof any immunity from civil or criminal liability, or to create defenses to actions, under the antitrust laws.
(2) The antitrust laws are inapplicable with respect to any action taken to formulate or implement the final system plan where such action was in compliance with the requirements of such plan and with respect to any action taken to formulate or implement any supplemental transaction.
(3) As used in this subsection, “antitrust laws” includes the Act of July 2, 1890 (ch. 647, 26 Stat. 209), as amended; the Act of October 15, 1914 (ch. 323, 38 Stat. 730), as amended; the Federal Trade Commission Act (38 Stat. 717), as amended [[15 U.S.C. 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section41&num=0&edition=prelim) et seq.], sections 73 and 74 of the Act of August 27, 1894 (28 Stat. 570), as amended [[15 U.S.C. 8](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section8&num=0&edition=prelim), 9]; the Act of June 19, 1936 (ch. 592, 49 Stat. 1526), as amended; and the antitrust laws of any State or subdivision thereof.
**(b) Commerce, securities, and bankruptcy**
(1) The provisions of subtitle IV of title 49 and the Bankruptcy Act, are inapplicable (A) to actions taken under this chapter to formulate and implement the final system plan where such action was in compliance with the requirements of such plan, and (B) to actions taken under this chapter to formulate or implement any supplemental transaction.
(2) All securities of the Corporation which are issued to the Association as the initial holder, or which are issued in conne
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 791
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Federal law — U.S. Code and appendices · legal_authorities
Level II of the Executive Schedule applies to the following positions, for which the annual rate of basic pay shall be the rate determined with respect to such level under chapter 11 of title 2, as adjusted by [section 5318 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section5318&num=0&edition=prelim):
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Northeast Corridor Service Development Plan.—**
(1) **In general.—** — Not later than March 31, 2022, the Northeast Corridor Commission established under section 24905 (referred to in this section as the “Commission”) shall submit a service development plan to Congress.
(2) **Contents.—** — The plan required under paragraph (1) shall—
(A) identify key state-of-good-repair, capacity expansion, and capital improvement projects planned for the Northeast Corridor;
(B) provide a coordinated and consensus-based plan covering a 15-year period;
(C) identify service objectives and the capital investments required to meet such objectives;
(D) provide a delivery-constrained strategy that identifies—
(i) capital investment phasing;
(ii) an evaluation of workforce needs; and
(iii) strategies for managing resources and mitigating construction impacts on operations; and
(E) include a financial strategy that identifies funding needs and potential funding sources.
(3) **Updates.—** — The Commission shall update the service development plan not less frequently than once every 5 years.
**(b) Northeast Corridor Capital Investment Plan.—**
(1) **In general.—** — Not later than November 1 of each year, the Commission shall—
(A) develop an annual capital investment plan for the Northeast Corridor; and
(B) submit the capital investment plan to—
(i) the Secretary of Transportation;
(ii) the Committee on Commerce, Science, and Transportation of the Senate; and
(iii) the Committee on Transportation and Infrastructure of the House of Representatives.
(2) **Contents.—** — The plan required under paragraph (1) shall—
(A) reflect coordination across the entire Northeast Corridor;
(B) integrate the individual capital plans developed
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 24904
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Federal law — U.S. Code and appendices · legal_authorities
Page 155
TITLE 45—RAILROADS
§ 701
Sec.
722.
Records, audit, and examination.
723.
Emergency assistance pending implementa-
tion.
724.
Authorization of appropriations.
725.
Interim agreements.
726.
Debentures and series A preferred stock.
727.
Additional purchases of Series A preferred
stock.
728.
Reports to Congress.
729.
Advisory Board.
SUBCHAPTER III—CONSOLIDATED RAIL
CORPORATION
741.
Formation and structure.
742.
Powers and duties of Corporation.
743.
Valuation and conveyance of rail properties.
744.
Termination and continuation of rail serv-
ices.
744a.
End of Conrail commuter service obligation.
745.
Continuing
reorganization;
supplemental
transactions.
746.
Certificates of value.
747.
Protection of Federal funds.
748.
Abandonments.
SUBCHAPTER IV—TRANSFER OF FREIGHT
SERVICES
761 to 769c. Repealed.
SUBCHAPTER V—EMPLOYEE PROTECTION
771 to 780. Repealed.
SUBCHAPTER VI—MISCELLANEOUS PROVISIONS
791.
Relationship to other laws.
792, 793.
Repealed.
794.
Tax payments to States.
SUBCHAPTER VII—PROTECTION OF EMPLOYEES
797.
Repealed.
797a.
Termination allowance.
797b.
Preferential hiring.
797c.
Central register of railroad employment.
797d.
Election and treatment of benefits.
797e.
Assignment of work.
797f.
Contracting out.
797g.
New collective-bargaining agreements.
797h.
Employee and personal injury claims.
797i.
Limitations on liability.
797j.
Preemption.
797k.
Factfinding panel.
797l.
Class II railroads receiving Federal assist-
ance.
797m.
Arbitration.
SUBCHAPTER I—GENERAL PROVISIONS
§ 701. Congressional declaration of policy
(a) Findings
The Congress finds and declares that—
(1) Essential rail service in the midwest and
northeast region of the United States is pro-
vided by railroads wh
Source: Supplied 2024 U.S. Code historical extraction · 45 U.S.C. § 701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Goals** The final system plan shall be formulated in such a way as to effectuate the following goals:
(1) the creation, through a process of reorganization, of a financially self-sustaining rail and express service system in the region;
(2) the establishment and maintenance of a rail service system adequate to meet the rail transportation needs and service requirements of the region;
(3) the establishment of improved high-speed rail passenger service, consonant with the recommendations of the Secretary in his report of September 1971, entitled “Recommendations for Northeast Corridor Transportation”;
(4) the preservation, to the extent consistent with other goals, of existing patterns of service by railroads (including short-line and terminal railroads), and of existing railroad trackage in areas in which fossil fuel natural resources are located, and the utilization of those modes of transportation in the region which require the smallest amount of scarce energy resources and which can most efficiently transport energy resources;
(5) the retention and promotion of competition in the provision of rail and other transportation services in the region;
(6) the attainment and maintenance of any environmental standards, particularly the applicable national ambient air quality standards and plans established under the Clean Air Act Amendments of 1970, taking into consideration the environmental impact of alternative choices of action;
(7) the movement of passengers and freight in rail transportation in the region in the most efficient manner consistent with safe operation, including the requirements of commuter and intercity rail passenger service; the extent to which there should be coordination with the National Railroad Passenger Corporation and similar entitie
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 716
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Federal law — U.S. Code and appendices · legal_authorities
Page 162
TITLE 45—RAILROADS
§ 713
Subsec. (e). Pub. L. 94–210, § 607(b), in cl. (4) inserted
‘‘, certificates of value issued, securities purchased,’’
after ‘‘obligations issued’’.
Subsec. (f). Pub. L. 94–210, § 607(c), inserted provisions
relating to receipts and disbursements under sections
726 and 746 of this title.
1975—Subsec. (b)(2). Pub. L. 94–5, § 2(a)(1), inserted
‘‘and express’’ after ‘‘rail’’ wherever appearing.
Subsec. (b)(7). Pub. L. 94–5, § 2(a)(2), substituted
‘‘; and’’ for a period at end of par. (7).
Subsec. (b)(8). Pub. L. 94–5, § 2(a)(3), added par. (8).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1981 AMENDMENT
Amendment by Pub. L. 97–35 effective Aug. 13, 1981,
see section 1169 of Pub. L. 97–35, set out as an Effective
Date note under section 1101 of this title.
EFFECTIVE DATE OF 1979 AMENDMENT
Amendment by Pub. L. 96–73 effective Oct. 1, 1979, see
section 501(a) of Pub. L. 96–73.
TERMINATION OF REPORTING REQUIREMENTS
For termination, effective May 15, 2000, of provisions
of law requiring submittal to Congress of any annual,
semiannual, or other regular periodic report listed in
House Document No. 103–7 (in which reports required
under subsecs. (d)(1), (3), (e), and (f) of this section are
listed as the 3rd through 6th items on page 195), see sec-
tion 3003 of Pub. L. 104–66, as amended, and section
1(a)(4) [div. A, § 1402(1)] of Pub. L. 106–554, set out as
notes under section 1113 of Title 31, Money and Fi-
nance.
ABOLITION OF SPECIAL COURT, REGIONAL RAIL REORGA-
NIZATION ACT OF 1973, AND TRANSFER OF FUNCTIONS
Special court abolished and all jurisdiction and func-
tions transferred to United States District Court for
District of Columbia, see section 719(b)(2) of this title.
ABOLITION OF UNITED STATES RA
Source: Supplied 2024 U.S. Code historical extraction · 45 U.S.C. § 716
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Deposit with court** Within 10 days after delivery of a certified copy of a final system plan pursuant to [section 719(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title45-section719/c&num=0&edition=prelim)—
(1) the Corporation, in exchange for the rail properties of the railroads in reorganization in the region and of railroads leased, operated, or controlled by railroads in reorganization in the region to be transferred to the Corporation or any subsidiary thereof, shall deposit with the special court all of the stock and other securities of the Corporation and certificates of value issued by the Association designated in the final system plan to be exchanged for such rail properties;
(2) each profitable railroad operating in the region and each state or responsible person (including a government entity) purchasing rail properties from a railroad in reorganization in the region, or from a railroad leased, operated, or controlled by a railroad in reorganization in the region, as provided in the final system plan shall deposit with the special court the compensation to be paid for such rail properties.
**(b) Conveyance of rail properties**
(1) The special court shall, within 10 days after deposit under subsection (a) of this section of the securities of the Corporation, certificates of value issued by the Association, and compensation from the profitable railroads operating in the region, States, and responsible persons, order the trustee or trustees of each railroad in reorganization in the region to convey forthwith to the Corporation or any subsidiary thereof, the respective profitable railroads operating in the region, States, and responsible persons all right, title, and interest in the rail properties of such railroad in
Source: Supplied U.S. Code snapshot — release unconfirmed · 45 U.S.C. § 743
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Federal law — U.S. Code and appendices · legal_authorities
Page 191
TITLE 45—RAILROADS
§ 743
under this chapter, in addition to the powers
conferred upon it under the laws of the State or
States in which it is incorporated and the pow-
ers of a railroad in any State in which it oper-
ates. The Corporation is authorized and directed
to—
(a) acquire rail properties designated in the
final system plan to be transferred or con-
veyed to it;
(b) operate rail service over such rail prop-
erties except as provided under sections 744(e)
and 791(d)(3) of this title;
(c) rehabilitate, improve, and modernize
such rail properties; and
(d) maintain adequate and efficient rail serv-
ices.
So long as 50 per centum or more, as determined
by the Secretary of the Treasury, of the out-
standing indebtedness of the Corporation con-
sists of obligations of the Association or other
debts owing to or guaranteed by the United
States, the Corporation shall not engage in ac-
tivities which are not related to transportation.
(Pub. L. 93–236, title III, § 302, Jan. 2, 1974, 87
Stat. 1005.)
Statutory Notes and Related Subsidiaries
ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND
TRANSFER OF FUNCTIONS AND SECURITIES
See section 1341 of this title.
§ 743. Valuation and conveyance of rail prop-
erties
(a) Deposit with court
Within 10 days after delivery of a certified
copy of a final system plan pursuant to section
719(c) of this title—
(1) the Corporation, in exchange for the rail
properties of the railroads in reorganization in
the region and of railroads leased, operated, or
controlled by railroads in reorganization in
the region to be transferred to the Corporation
or any subsidiary thereof, shall deposit with
the special court all of the stock and other se-
curities of the Corporation and certificates of
value issued by the
Source: Supplied 2024 U.S. Code historical extraction · 45 U.S.C. § 743
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