45 U.S.C. § 727 — Additional purchases of Series A preferred

Page 186 TITLE 45—RAILROADS § 727 1 See References in Text note below. Subsec. (b)(3). Pub. L. 96–448, § 405(b)(2), added par. (3). Subsec. (b)(4). Pub. L. 96–448, § 703(e), added par. (4). Subsec. (f)(5). Pub. L. 96–254, § 118(a), (b), inserted pro- visions that the plan not be subject to change under the provisions of section 6 of the Railway Labor Act until after such time as securities have been distrib- uted from the plan to the participants in the plan or their beneficiaries pursuant to the terms of the plan and that, for purposes of this subsection, the Railway Labor Executives’ Association shall be deemed to rep- resent all of the representatives of crafts or classes of employees of the Corporation and its subsidiaries as though that organization held powers of attorney from each representative of a craft or class for the limited purposes of negotiating and agreeing upon an employee stock ownership plan. Subsec. (f)(8) to (10). Pub. L. 96–254, § 118(c), added pars. (8) to (10). Subsec. (g). Pub. L. 96–448, § 703(f)(2), substituted ‘‘$3,629,000,000’’ for ‘‘$3,300,000,000’’. 1978—Subsec. (a). Pub. L. 95–565, § 2(a), substituted ‘‘$2,300,000,000’’ for ‘‘$1,100,000,000’’. Subsec. (b)(2). Pub. L. 95–565, § 2(b), substituted ‘‘$2,300,000,000’’ for ‘‘$1,100,000,000’’. Subsecs. (f), (g). Pub. L. 95–565, §§ 2(c), 3, added subsec. (f), redesignated former subsec. (f) as (g), and sub- stituted ‘‘$3,300,000,000’’ for ‘‘$2,100,000,000’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–448 effective Oct. 1, 1980, see section 710(a) of Pub. L. 96–448, set out as a note under section 1170 of Title 11, Bankruptcy. ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF FUNCTIONS AND SECURITIES See section 1341 of this title. APPLICABILITY OF NATIONAL ENVIRONMENTAL POLICY ACT Application of National Environmental Policy Act to actions of Commission not affected by title VI of Pub. L. 94–210, see section 619 of Pub. L. 94–210, set out as a note under section 791 of this title. § 727. Additional purchases of Series A preferred stock (a) Federal investment In addition to the authority provided under section 726 of this title, the Association shall purchase shares of Series A preferred stock and accounts receivable of the Corporation after Au- gust 13, 1981, in amounts not to exceed a total of $137,000,000. (b) Accounts receivable (1) In any further purchase under this section or section 726 of this title the Association shall purchase accounts receivable of the Corporation attributable to the dispute over the right-of-way related costs described in section 1111 1 of this title until the Commission resolves such dispute under such section, and accounts receivable of the Corporation attributable to delays in reim- bursement from commuter authorities. (2) From funds provided under this section or section 726 of this title, the Association shall purchase Series A preferred stock of the Cor- poration, to the extent of losses on commuter service, in an amount not to exceed $15,000,000. (c) States and localities The Corporation shall be exempt from liability for any State tax, except for any tax imposed by any political subdivision of a State applicable to any taxable period commencing before January 1, 1987. (d) Debentures The Association shall return debentures to the Corporation in an amount equal to the value of the properties conveyed by the Corporation to Amtrak Commuter and any commuter author- ity. (e) Rights retained The Corporation shall retain the right to col- lect any accounts receivable attributable to delays in reimbursement from commuter au- thorities that are purchased by the Association under this section. No agency or instrumen- tality of the United States shall be required to collect such accounts. (f) Authorization of appropriations (1) There is authorized to be appropriated not to exceed $262,000,000— (A) of which not to exceed $137,000,000 shall be appropriated to the Association for pur- poses of purchasing securities and accounts re- ceivable of the Corporation under this section, such sums to remain available until the Sec- retary transfers the Corporation under sub- chapter IV 1 of this chapter; (B) of which not to exceed $75,000,000 shall be appropriated to the Secretary, to facilitate the transfer of rail commuter services from the Corporation to other operators, for dis- tribution under the statutory provisions of section 1139(b) of the Northeast Rail Service Act of 1981; (C) of which not to exceed $35,000,000 shall be appropriated to the Secretary to be allocated for employee protection under section 1005 of this title; and (D) of which not to exceed $15,000,000 shall be appropriated to the Secretary to facilitate the transfer of rail commuter services from rail- roads that entered reorganization after cal- endar year 1974 to any commuter authority that was providing commuter service, oper- ated by a railroad that entered reorganization after calendar year 1974, as of January 1, 1979. (2) All sums received on account of the holding or disposition of any securities or accounts re- ceivable referred to in paragraph (1)(A) of this subsection shall be deposited in the general fund of the Treasury. (3) The amount authorized to be appropriated under paragraph (1)(B) of this subsection shall be reduced, in an amount equal to any amounts reappropriated under the authority of section 726(g)(2) of this title, upon the date of enactment of any Act which reappropriates such amounts. (Pub. L. 93–236, title II, § 217, as added Pub. L. 97–35, title XI, § 1140(a), Aug. 13, 1981, 95 Stat. 653; amended Pub. L. 97–468, title V, § 504(c), Jan. 14, 1983, 96 Stat. 2552; Pub. L. 99–509, title IV, § 4033(b)(2), (3), Oct. 21, 1986, 100 Stat. 1908.) Editorial Notes REFERENCES IN TEXT Section 1111 of this title, referred to in subsec. (b)(1), was repealed by Pub. L. 105–134, title IV, § 408, Dec. 2, 1997, 111 Stat. 2586. Page 187 TITLE 45—RAILROADS § 729 1 See References in Text note below. Subchapter IV of this chapter, referred to in subsec. (f)(1)(A), was repealed by Pub. L. 99–509, title IV, § 4033(a)(1), Oct. 21, 1986, 100 Stat. 1908. Section 1139(b) of the Northeast Rail Service Act of 1981, referred to in subsec. (f)(1)(B), is section 1139(b) of Pub. L. 97–35, title XI, Aug. 13, 1981, 95 Stat. 652, which is set out as a note under section 744a of this title. AMENDMENTS 1986—Subsec. (c). Pub. L. 99–509, § 4033(b)(2), sub- stituted ‘‘applicable to any taxable period commencing before January 1, 1987’’ for ‘‘, until the property of the Corporation is transferred by the Secretary under sub- chapter IV of this chapter’’. Subsec. (e). Pub. L. 99–509, § 4033(b)(3), struck out ‘‘and shall collect’’ after ‘‘right to collect’’. 1983—Subsec. (a). Pub. L. 97–468, § 504(c)(1), sub- stituted ‘‘$137,000,000’’ for ‘‘$262,000,000’’. Subsec. (f). Pub. L. 97–468, § 504(c)(2), designated exist- ing provisions as pars. (1)(A) and (2), in (1)(A) as so des- ignated, substituted $137,000,000 for $262,000,000 as limit of appropriations for purchase of securities and ac- counts receivable, and added pars. (1)(B) to (D) and (3). Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Aug. 13, 1981, see section 1169 of Pub. L. 97–35, set out as a note under section 1101 of this title. ABOLITION OF INTERSTATE COMMERCE COMMISSION AND TRANSFER OF FUNCTIONS Interstate Commerce Commission abolished and func- tions of Commission transferred, except as otherwise provided in Pub. L. 104–88, to Surface Transportation Board effective Jan. 1, 1996, by section 1302 of Title 49, Transportation, and section 101 of Pub. L. 104–88, set out as a note under section 1301 of Title 49. References to Interstate Commerce Commission deemed to refer to Surface Transportation Board, a member or employee of the Board, or Secretary of Transportation, as appro- priate, see section 205 of Pub. L. 104–88, set out as a note under section 1301 of Title 49. ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF FUNCTIONS AND SECURITIES See section 1341 of this title. § 728. Reports to Congress (a) Progress and evaluation (1) The Association shall prepare and submit to Congress periodic reports on the progress of the Secretary in carrying out the provisions of subchapters II, III, and IV 1 of this chapter. (2) Reports submitted under paragraph (1) of this subsection shall also include an evaluation of the performance of the Corporation in order to keep the Congress informed as to matters which may affect the quality of rail service in the Northeast and which may affect the security of Federal funds invested in the Corporation. (b) Transfer agreements (1) The Association shall prepare and submit to Congress a final report on the transfer agree- ments which the Secretary is required to trans- mit to Congress under section 767 1 of this title. Such report shall be submitted on the same date as the Secretary’s transmittal of such agree- ments to Congress. (2) The report submitted under paragraph (1) of this subsection shall include an evaluation of the effect of the transfer agreements on rail service in the Northeast, railroad employees, the economy of the Region, other railroads in the Northeast and elsewhere, and any other matter which the Association considers appro- priate. Such report shall also include rec- ommendations with respect to approval, dis- approval, or modification of the transfer agree- ments. (Pub. L. 93–236, title II, § 218, as added Pub. L. 97–35, title XI, § 1150(a), Aug. 13, 1981, 95 Stat. 675.) Editorial Notes REFERENCES IN TEXT Subchapter IV of this chapter, including section 767 of this title, referred to in subsecs. (a)(1) and (b)(1), was repealed by Pub. L. 99–509, title IV, § 4033(a)(1), Oct. 21, 1986, 100 Stat. 1908. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Aug. 13, 1981, see section 1169 of Pub. L. 97–35, set out as a note under section 1101 of this title. 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 a report required under subsec. (a) of this section is listed as the 9th item on page 195), see section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF FUNCTIONS AND SECURITIES See section 1341 of this title. § 729. Advisory Board Members of the Board of Directors of the Asso- ciation serving on the day before August 13, 1981, shall serve as an Advisory Board to the Associa- tion. A member of the Advisory Board who is not otherwise an employee of the Federal Gov- ernment shall receive reimbursement for travel, subsistence, and other necessary expenses in- curred in the performance of such duties. The Chairman of the Association shall serve as Chairman of the Advisory Board. Any vacancy on the Advisory Board shall be filled by the As- sociation with a representative from the group which had a representative in the vacant posi- tion. (Pub. L. 93–236, title II, § 219, as added Pub. L. 97–35, title XI, § 1150(a), Aug. 13, 1981, 95 Stat. 675.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Aug. 13, 1981, see section 1169 of Pub. L. 97–35, set out as a note under section 1101 of this title. ABOLITION OF UNITED STATES RAILWAY ASSOCIATION AND TRANSFER OF FUNCTIONS AND SECURITIES See section 1341 of this title. TERMINATION OF ADVISORY BOARDS Advisory boards established after Jan. 5, 1973, to ter- minate not later than the expiration of the 2-year pe-