Sec. 1403. Railroad rehabilitation and improvement financing

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Section 501 of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 821 ) is amended by inserting at the end the following: The term railroad means a railroad carrier as that term is defined in section 20102 of title 49, United States Code. . Section 502(a) of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 822(a) ) is amended— by striking paragraph

(5)and inserting the following: joint ventures that include at least one of the entities described in paragraphs

(1)through

(4)or paragraph

(6)of this section; and ; in paragraph (6), by striking second and that is served by no more than a single railroad ; and in paragraph (6), by striking limited option rail freight shippers and inserting limited option freight shippers . Section 502(b) of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 822(b) ) is amended— in paragraph (1)(A), by striking shops and inserting shops, inclusive of costs related to these activities, but not operating expenses ; and in paragraph (1)(B), by striking subparagraph

(A)and inserting subparagraph

(A)or

(C). Section 502(f) of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 822(f) ) is amended— in paragraph (1)— by inserting including modifications thereto after 1990 ; by inserting and modification costs after premiums in the first sentence; and by inserting or modification after application at the end of the first sentence; in paragraph (3), by inserting , and in the case of a modification, before the modification is executed after amounts ; and by striking paragraph (4). Section 502(h) of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 822(h) ) is amended— in paragraph (2)— by striking project and inserting project, if applicable ; by striking

(2)and inserting (2)(A) ; and by inserting at the end the following: The Secretary may subordinate rights of the Secretary under any provision of title 49 or title 23 of the United States Code, to the rights of the Secretary under this section and section 503 of this Act. ; and by inserting the following after subparagraph (3)(B): The Secretary shall not provide assistance under this section exceeding 80 percent of the reasonably anticipated eligible project costs on projects— that receive a loan for which the Government pays the cost as defined by section 502 of the Federal Credit Reform Act; and with total eligible project costs estimated to exceed $100,000,000. . Section 503(c) of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 823(c) ) is amended— in paragraph (1), by striking and from the end; in paragraph (2), by striking the period and inserting ; and ; and by adding the following after paragraph (2): the modification cost has been covered pursuant to section 502(f). . Section 503 of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 823 ) is amended by striking subsection

(k)and inserting the following: The Secretary may collect from each applicant a reasonable charge for— the cost of evaluating the application, amendments, modifications, and waivers including appraisal of the value of the equipment or facilities for which the direct loan or loan guarantee is sought, and for making necessary determinations and findings; the cost of award and project management oversight; the cost of services from expert firms, including counsel, in the field of railroad, municipal and project finance, to assist in the underwriting, auditing, servicing and exercise of rights with respect to direct loans and loan guarantees; and the cost of all other expenses incurred as a result of a breach of any term or condition or any event of default on a direct loan. A charge under this subsection shall not exceed one percent of the principal amount requested in the application. The Secretary shall prescribe standards for applying the charges to ensure that it does not prevent a Class II or Class III railroad from having adequate access to direct loans and loan guarantees under this title. Amounts collected under this subsection shall be credited directly to the Safety and Operations account of the Federal Railroad Administration, and shall remain available until expended to pay for the costs described in this subsection. . There are authorized to be appropriated to the Secretary such sums as may be necessary for the cost of direct loans and loan guarantees pursuant to sections 502 through 504 of the Railroad Revitalization and Regulatory Reform Act of 1976 ( Public Law 94–210 ).

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45 USC 821
45 USC 822(a)
45 USC 822(b)
45 USC 822(f)
45 USC 822(h)
45 USC 823(c)
45 USC 823
Pub. L. 94-210

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Sec. 1403

Railroad rehabilitation and improvement financing

Cite45 USC 821

Cite45 USC 822(a)

Cite45 USC 822(b)

Cite45 USC 822(f)

Cite45 USC 822(h)

Cites 8 · showing 5Cited by 0 across 0 sources