Sec. 24. rehabilitation and improvement financing

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## Sec. 24 rehabilitation and improvement financing ###

(a)Section 505(b)(2) of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 825(b)(2)) is amended— ####

(1)by inserting immediately after the comma at the end of clause

(A)thereof the following: “except that if the Secretary determines, pursuant to clause

(C)of this paragraph, that significant railroad restructuring will result from the project, the Secretary shall not consider the availability of funds from other sources but instead shall consider whether such restructuring benefits would be likely to be achieved if assistance were not provided,”; and ####

(2)by amending clause

(C)thereof to read as follows: “(C) the public benefits, including any significant railroad restructuring, to be realized from the project to be financed in relation to the public costs of such financing and whether the proposed project will return public benefits sufficient to justify such public costs.”. ###

(b)Section 501 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821) is amended— ####

(1)by striking out “and” at the end of paragraph (6); ####

(2)by striking out the period at the end of paragraph

(7)and inserting in lieu thereof “; and”; and ####

(3)by adding at the end thereof the following new paragraph: > > #### “(8) > > ‘**restructuring**’ means any activity (including a consolidation, coordination, merger, or abandonment) which

(A)involves rehabilitation or improvement of a facility or the transfer of a facility,

(B)improves the long-term profitability of any railroad, and

(C)results in the enhancement of the national rail freight system through the achievement of higher average traffic densities or improved asset utilization.” > .

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45 USC 825(b)(2)
45 USC 821

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Sec. 24

rehabilitation and improvement financing

Cite45 USC 825(b)(2)

Cite45 USC 821

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