miscellaneous amendments to title ii

miscellaneous amendments to title ii Sec. 607. (a) Section 201(j) of such Act (45 U.S.C. 711(j)), as redesignated by section 603(a) of this Act, is amended by adding at the end thereof the following new paragraph: “(4) Any reference in this Act to the Secretary of the Treasury is to the Secretary of the Treasury or the person at the time performing the duties of the Office of the Secretary of the Treasury in accordance with law or the duly authorized representative of either of them. Any reference in this Act to the Chairman of the Commission is to the Chairman of the Commission or the person at the time performing the duties of the Chairman of the Commission in accordance with law, or the duly authorized representative of either of them.”. (b) Section 202(e) of such Act (45 U.S.C. 712(e)) is amended by inserting after “obligations issued” and before “and loans” in clause (4) thereof the following: “, certificates of value issued, securities purchased.”. (c) Section 202(f) of such Act (45 U.S.C. 712(f)) is amended by inserting after “section” and before “)” in the first sentence thereof the following: “and receipts and disbursements under section 216 of this title and section 306 of this Act.”. (d) Section 203(a) of such Act (45 U.S.C. 713(a)) is amended by striking out the last sentence thereof. (e) Section 206(d)(3) of such Act (45 U.S.C. 716(d)(3)) is amended by inserting after the first sentence thereof the following three new sentences: “All determinations made by the Association in the correction to the preliminary system plan published on April 11, 1975 (40 Fed. Reg. 16377), shall be treated for all purposes as if they had been made upon adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to such correction shall be treated for all purposes as if they had been made within 90 days after adoption and release by the Association of the preliminary system plan. All determinations made by the Commission with respect to acquisitions by profitable railroads referred to in any supplement to the preliminary system plan pub-90 STAT. 97lished under section 207 (b) (2) of this title shall be deemed to be timely if made prior to the adoption of the final system plan under section 207(c) of this title.”. (f) Section 206(c) (1) (B) of such Act (45 U.S.C. 716(c) (1) (B)) is amended by inserting immediately after “paragraph” the following: “and what alternative designations shall be made under this paragraph”. (g) Section 206(c) (1) (A) of such Act (45 U.S.C. 716(c) (1) (A)) is amended by striking out the semicolon and inserting in lieu thereof the following: “: Provided, That the Corporation shall, within 95 days after the effective date of the final system plan, give notice to the Association of which such rail properties, if any, are to be transferred to a subsidiary of the Corporation in the event that the Board of Directors of the Association finds that such transfer would be consistent with the final system plan;”. (h) Section 206(c)(2) of such Act (45 U.S.C. 716(c)(2)) is amended by adding at the end thereof the following new sentence: “Any rail properties designated to be offered for sale to the Corporation may lie sold instead to a subsidiary of the Corporation.”. (i) Sections 206(d)(1). 209 (c) and (d), 215(d). 304(e), and 501 (1) and (2) of such Act (45 U.S.C. 716(d)(1), 719(c) and (d), 744 (e), and 771 (1) and (2)) are amended by inserting after “Corporation” each time it appeal’s the following: “or any subsidiary thereof”. (j) Section 206(c) (1) (D) of such Act (45 U.S.C. 716(c) (1) (D)) is amended by— (1) inserting immediately after “by” the following “(i)”; and (2) striking out “; and” at the end thereof and adding the following: “, or (ii) the National Railroad Passenger Corporation to meet the needs of improved rail passenger service over intercity routes, other than properties designated pursuant to subparagraph (C) of this paragraph; and”. (k) Section 210(c) of such Act (45 U.S.C. 720(c)) is amended by adding at the end thereof the following new sentence: “All guarantees entered into by the Secretary under this section shall constitute general obligations of the United States for the payment of which its full faith and credit are pledged.”. (l) Section 209(c) of such Act (45 U.S.C. 719(c)) is amended by striking out “obligations of the Association” each time it appears and inserting in lieu thereof “certificates of value of the Association”. (m) (1) Subsection (b) of section 214 of such Act (45 U.S.C. 724(b)) is amended by striking out “$5,000,000” and inserting in lieu thereof “$7,000,000”. (2) Section 214(c) of such Act is amended by striking out the period and inserting in lieu thereof “, and not to exceed $14,000,000 for the fiscal period which includes the period ending September 30, 1977.”. (n) Section 214(a) of such Act (45 U.S.C. 724(a)) is amended by adding at the end thereof the following: “There are authorized to be appropriated to the Secretary such sums as may be necessary to discharge the obligations of the United States arising under section 303 (c) (5) of this Act.” (o) Paragraph (4) of section 206(d) of such Act (45 U.S.C. 716 (d)(4)) is amended— (1) in the first sentence thereof, by striking out “30 days after the effective date of the final system plan” and inserting in lieu thereof “7 days after the date of the enactment of the Railroad Revitalization and Regulatory Reform Act of 1976”; and in the90 STAT. 98second sentence thereof, by striking out “60” and inserting in lieu thereof “95”; and (2) by inserting immediately after the first sentence thereof the following new sentence: “Any such offer may be modified until the date of acceptance thereof, unless such modification results in an offer for the sale of rail properties at less than the net liquidation value thereof.”. (p) Section 206(d) of such Act (45 U.S.C. 716(d)) is amended by adding at the end thereof the following new paragraph: “(6) Notwithstanding any statement to the contrary in the final system plan, a State (or a local or regional transportation authority) shall not be required to deliver to the Corporation a firm commitment to acquire rail properties designated to such State or authority prior to 7 days after the date of enactment of this paragraph.”. (q) Section 206 of such Act (45 U.S.C. 717(c)) is amended by adding at the end thereof the following new subsection: “(j) Any rail properties over which rail service was being provided as of the date of enactment of this Act, and which were recommended in the preliminary system plan for transfer to the Corporation, shall be deemed to be designated in the final system plan for transfer to the Corporation under subsection (c)(1)(A) of this section. Any designation in the final system plan, pursuant to subsection (c)(1) (B) of this section, of overhead trackage rights to be acquired by a profitable railroad operating in the region over specified rail properties to be acquired by the Corporation, where such designation noes not (1) authorize such profitable, railroad to interchange traffic with at least one railroad, or (2) provide for the connection of portions of such profitable railroad’s rail properties, and where the transfer of ownership of such rail properties (including trackage rights) to such profitable railroad was recommended in the preliminary system plan, and the Commission has made a determination with respect thereto, in accordance with subsection (d)(3) of this section, shall be deemed to authorize such profitable railroad to interchange traffic with the Corporation and any other profitable railroad connecting with such specified rail properties.”. (r) Section 209(c) of such Act (45 U.S.C. 719(c)) is amended by adding at the end thereof, without paragraph indentation, the following new sentences: “Notwithstanding any other provisions of this subsection and subsection (d) of this section, the time for the delivery of a certified copy of the final system plan shall be March 12, 1976, and may be extended to a date not more than 30 days thereafter, prescribed in a notice filed by the Association not later than February 10, 1976, with the special court, the Congress, and each court referred to in such subsection (d). Such notice shall contain the certification of the Association that an orderly conveyance of rail properties cannot reasonably be effected before the date for conveyance determined with respect to such notice. The time prescribed in section 303(a) of this Act snail be determined with respect to the date prescribed in such notice.”. (s) Section 209(c) (1) and (2) of such Act (45 U.S.C. 719(c) (1) and (2)) is amended by striking out “railroad leased” each time it appears therein and inserting in lieu thereof “person leased”. (t) Section 102(12) of such Act (45 U.S.C. 702(12)), as redesignated by this Act, is amended (1) by inserting immediately before “which are used or usefid” the following: “(or a person owned, leased, or otherwise controlled by a railroad)”; and (2) by striking out “phase” and inserting in lieu thereof “phrase”.