Sec. 2919. Disposition of rolling stock to improve air quality goals
225 words·~1 min read·
/bill/117/hr/3684/rh/section-2919·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5334 of title 49, United States Code, is further amended by adding at the end the following: If a recipient, or subrecipient, for assistance under this chapter disposes of rolling stock with a current market value, or proceeds from the disposition of such rolling stock, acquired under this chapter at least in part with such assistance, before such rolling stock has reached its useful life, the Secretary may allow the recipient, or subrecipient, to use the proceeds attributable to the Federal share of such rolling stock calculated under paragraph
(3)for capital projects under section 5307, 5310, or 5311 without need for repayment of the Federal financial interest. This subsection shall only apply to rolling stock disposed of— which are replaced by rolling stock that will help improve attainment of air quality goals compared to the rolling stock being replaced; and for which the recipient is located in an area that is designated as a nonattainment area for particulate matter under section 107(d) of the Clean Air Act (42 U.S.C. 7407(d)). The proceeds attributable to the Federal share of rolling stock described in paragraph
(1)shall be calculated by multiplying— the current market value of, or the proceeds from the disposition of, such asset; and the Federal share percentage for the acquisition of such asset at the time of acquisition of such asset. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 2919
Disposition of rolling stock to improve air quality goals
Cites 1Cited by 0 across 0 sources