rail passenger service

rail passenger service Sec. 807. Section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended to read as follows: “(5) All properties— “(A) transferred by the Corporation pursuant to sections 206(c)(1)(C) and 601(d) of this Act; “(B) transferred by the Corporation to any State (or local or regional transportation authority), pursuant to subsection (c) (1) (D) of this section, or “(C) transferred by the Corporation to any State, local or regional transportation authority, or the National Railroad Passenger Corporation, within 900 days after the date of conveyance, pursuant to section 303(b) (1) of this Act, to meet the needs of commuter or intercity rail passenger service, shall be transferred at a value related to the value received from the Corporation pursuant to the final system plan for the transfer to such Corporation of such properties. The value of any such properties, which are transferred pursuant to subparagraph (B) or (C) of this paragraph, shall be adjusted to reflect the value attributable to any applicable maintenance and improvement provided by the Corporation (to the extent the Corporation has not been released from the obligation to pay for such improvements) and the cost to the Corporation of transfer ring such properties.”.