§ 22106. Limitations on financial assistance

807 words·~4 min read·/usc/title-49/section-22106

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(a)Grants and Loans.— A State shall use financial assistance for projects under this chapter to make a grant or lend money to the owner of rail property, or a rail carrier providing rail transportation, related to a project being assisted.

(b)State Use of Repaid Funds and Contingent Interest Recoveries.— The State shall place the United States Government’s share of money that is repaid and any contingent interest that is recovered in an interest-bearing account. The repaid money, contingent interest, and any interest thereon shall be considered to be State funds. The State shall use such funds to make other grants and loans, consistent with the purposes for which financial assistance may be used under subsection (a), as the State considers to be appropriate.

(c)Encouraging Participation.— To the maximum extent possible, the State shall encourage the participation of shippers, rail carriers, and local communities in paying the State share of assistance costs.

(Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 897; Pub. L. 104–287, § 5(55), Oct. 11, 1996, 110 Stat. 3393; Pub. L. 110–432, div. A, title VII, § 701(a), Oct. 16, 2008, 122 Stat. 4905; Pub. L. 114–94, div. A, title XI, § 11316(k), Dec. 4, 2015, 129 Stat. 1678.)

In subsection (a), the words “financial assistance for projects under this chapter” are substituted for “assistance provided under subsection

(b)of this section” for clarity. The words “rail carrier providing rail transportation” are substituted for “operator of rail service” for consistency in the revised title. The word “conditions” is omitted as being included in “terms”. The words “Secretary of the Treasury” are substituted for “Department of the Treasury” because of 31:301(b).

In subsection (b), the words “in the same manner and under the same conditions as if they were originally granted to the State by the Secretary” are omitted as unnecessary.

In subsection (e)(2), the words “assistance under this chapter” are substituted for “Federal assistance” for clarity and consistency in this chapter.

Pub. L. 104–287

This amends 49:22106(b) to clarify the restatement of 49 App.:1654(d)(3) by section 1 of the Act of July 5, 1994 (Public Law 103–272, 108 Stat. 897).

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