Sec. 23. amendment to the regional rail reorganization act of 1973
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## Sec. 23 amendment to the regional rail reorganization act of 1973 Section 211(d) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 721(d)) is amended by striking out paragraph
(2)and the sentence following that paragraph and inserting in lieu thereof the following: > > #### “(2) > > increase the principal amount of such loan to such railroad, in an amount not to exceed $4,000,000, only if the Association makes the finding referred to in paragraph (1)(B) of this subsection and determines that such railroad is making a good faith effort to establish an employee stock ownership plan for review and approval by the Association. Any such approval shall be conditioned upon a written commitment that by December 31, 1980, the railroad will adopt an employee stock ownership plan which will acquire qualifying employer securities with a fair market value of $250,000. > > The Association may not take any action pursuant to the preceding sentence of this subsection after December 31, 1980.” > .
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Sec. 23
amendment to the regional rail reorganization act of 1973
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