§ 701. Congressional declaration of policy
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(a)Findings The Congress finds and declares that—
(1)Essential rail service in the midwest and northeast region of the United States is provided by railroads which are today insolvent and attempting to undergo reorganization under the Bankruptcy Act.
(2)This essential rail service is threatened with cessation or significant curtailment because of the inability of the trustees of such railroads to formulate acceptable plans for reorganization. This rail service is operated over rail properties which were acquired for a public use, but which have been permitted to deteriorate and now require extensive rehabilitation and modernization.
(3)The public convenience and necessity require adequate and efficient rail service in this region and throughout the Nation to meet the needs of commerce, the national defense, the environment, and the service requirements of passengers, United States mail, shippers, States and their political subdivisions, and consumers.
(4)Continuation and improvement of essential rail service in this region is also necessary to preserve and maintain adequate national rail services and an efficient national rail transportation system.
(5)Rail service and rail transportation offer economic and environmental advantages with respect to land use, air pollution, noise levels, energy efficiency and conservation, resource allocation, safety, and cost per ton-mile of movement to such extent that the preservation and maintenance of adequate and efficient rail service is in the national interest.
(6)These needs cannot be met without substantial action by the Federal Government.
(b)Purposes It is therefore declared to be the purpose of Congress in this chapter to provide for—
(1)the identification of a rail service system in the midwest and northeast region which is adequate to meet the needs and service requirements of this region and of the national rail transportation system;
(2)the reorganization of railroads in this region into an economically viable system capable of providing adequate and efficient rail service to the region;
(3)the establishment of the United States Railway Association, with enumerated powers and responsibilities;
(4)the establishment of the Consolidated Rail Corporation, with enumerated powers and responsibilities;
(5)assistance to States and local and regional transportation authorities for continuation of local rail services threatened with cessation; and
(6)necessary Federal financial assistance at the lowest possible cost to the general taxpayer.
(Pub. L. 93–236, title I, § 101, Jan. 2, 1974, 87 Stat. 986.)
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Cited by 74 sections · top 52
U.S. Code
- § 231Definitions
- § 9101Definitions
- § 351Definitions
- § 332Minority Resource Center
- § 1341Abolition of United States Railway Association
- § 1101Congressional findings and declarations
- § 726Debentures and series A preferred stock
- § 358Basis to distributees
- § 741Formation and structure
- § 1116Applicability of other laws
- § 354Exchanges of stock and securities in certain reorganizations
- § 1104Definitions
- § 802Definitions
- § 24901Definitions
- § 24903General authority
- § 24907Note and mortgage
statutes-at-large
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- Public Law 99–508To amend title 18, United States Code, with respect to the interception of certain communications, other forms of surveillance, and for other purposes
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- Public Law 96–613To make certain miscellaneous changes in the tax laws
- Public Law 97–35To provide for reconciliation pursuant to section 301 of the first concurrent resolution on the budget for the fiscal year 1982
- Public Law 95–473To revise, codify, and enact without substantive change tile Interstate Commerce Act and related laws as subtitle IV of title 49, United States Code, “Transportation”
- Public Law 95–565To amend the Regional Rail Reorganization Act of 1973 to authorize the purchase of an additional $1,200,000,000 of the series A preferred stock of the Corporation, and for other purposes
- Public Law 94–253To provide tax treatment for exchanges under the final system plan for ConRail
- Public Law 94–387Making appropriations for the Department of Transportation and related agencies for the fiscal year ending September 30, 1977, and for other purposes
- Public Law 94–303Making supplemental appropriations for the fiscal year ending June 30, 1976, and the period ending September 30, 1976, and for other purposes
- Public Law 96–400Making appropriations for the Department of Transportation and related agencies for the fiscal year ending September 30, 1981, and for other purposes
- Public Law 94–210To improve the quality of rail services in the United States through regulatory reform, coordination of rail services and facilities, and rehabilitation and improvement financing, and for other purposes
- Public Law 96–448To reform the economic regulation of railroads, and for other purposes
- Public Law 94–5To amend the Regional Rail Reorganization Act of 11173 to increase the financial assistance available under section 213 and section 215, and for other purposes
- Public Law 94–134Making appropriations for the Department of Transportation and related agencies for the fiscal year ending June 30, 1976, and the period ending September 30, 1976, and for other purposes
- Public Law 94–455To reform the tax laws of the United States
statute-compilations
17 references not yet in our index
- Pub. L. 93–236, title I, § 101
- 87 Stat. 986
- act July 1, 1898, ch. 541
- 30 Stat. 544
- Pub. L. 95–598
- 92 Stat. 2682
- Pub. L. 95–565, § 1
- 92 Stat. 2397
- section 975 of Title 43
- Pub. L. 94–555, title II, § 201
- 90 Stat. 2616
- Pub. L. 94–5, § 1
- 89 Stat. 7
- Pub. L. 93–236, § 1
- 87 Stat. 985
- Pub. L. 93–236, title VI, § 604
- 87 Stat. 1023
Citation graph
cites case law
§ 701
Congressional declaration of policy
Stat.×44
U.S.C.×25
Stat. Comp.×4
Fed. Reg.×1
Pub. L.Pub. L. 93–236, title I, § 101
Stat.87 Stat. 986
Actact July 1, 1898, ch. 541
Stat.30 Stat. 544
Pub. L.Pub. L. 95–598
Cites 21 · showing 9Cited by 74 across 4 sources