Sec. 7310. HAZARDOUS MATERIALS BY RAIL LIABILITY STUDY

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## SEC. 7310 HAZARDOUS MATERIALS BY RAIL LIABILITY STUDY ###

(a)In general Not later than 120 days after the date of enactment of this Act, the Secretary shall initiate a study on the levels and structure of insurance for railroad carriers transporting hazardous materials. ###

(b)Contents ln conducting the study under subsection (a), the Secretary shall evaluate— ####

(1)the level and structure of insurance, including self-insurance, available in the private market against the full liability potential for damages arising from an accident or incident involving a train transporting hazardous materials; ####

(2)the level and structure of insurance that would be necessary and appropriate— #####

(A)to efficiently allocate risk and financial responsibility for claims; and #####

(B)to ensure that a railroad carrier transporting hazardous materials can continue to operate despite the risk of an accident or incident; and ####

(3)the potential applicability, for a train transporting hazardous materials, of an alternative insurance model, including— #####

(A)a secondary liability coverage pool or pools to supplement commercial insurance; and #####

(B)other models administered by the Federal Government. ###

(c)Report Not later than 1 year after the date the study under subsection

(a)is initiated, the Secretary shall submit a report containing the results of the study and recommendations for addressing liability issues with rail transportation of hazardous materials to— ####

(1)the Committee on Commerce, Science, and Transportation of the Senate; and ####

(2)the Committee on Transportation and Infrastructure of the House of Representatives. ###

(d)Definitions ln this section: ####

(1)Hazardous material The term “hazardous material” means a substance or material the Secretary designates as hazardous under section 5103 of title 49, United States Code. ####

(2)Railroad carrier The term “railroad carrier” has the meaning given the term in section 20102 of title 49, United States Code.