Page:United States Statutes at Large Volume 101 Part 1.djvu/257

 PUBLIC LAW 100-17—APR. 2, 1987

101 STAT. 227

SEC. 309. BUS REMANUFACTURING AND OVERHAULING OF ROLLING STOCK.

(a) INCLUSION IN DEFINITION OF CONSTRUCTION,—Section 12(c)(l) of the Urban Mass Transportation Act of 1964 is amended by inserting 49 USC app. "(A)" after "such term also means" and by inserting before the 1608. semicolon at the end thereof the following: ", (B) any bus remanufacturing project which extends the economic life of the bus 8 years or more, and (C) any project for the overhaul of rail rolling stock (whether or not such overhaul increases the useful life of the rolling stock)". (b) EXPANSION OF ASSOCIATED CAPITAL MAINTENANCE ITEMS.—

Section 9(j) of the Urban Mass Transportation Act of 1964 is amended— (1) in the last sentence, by striking out "and materials" and inserting in lieu thereof ", tires, tubes, and materials"; (2) in the last sentence, by striking out "1 per centum" and inserting in lieu thereof "¥2 of 1 percent"; (3) by inserting "(1)" before "Grants"; and (4) by adding at the end thereof the following: "(2) A project for the reconstruction (whether by employees of the grant recipient or by contract) of any equipment and materials each of which, after reconstruction, will have a fair market value no less than y^ of 1 percent of the current fair market value of rolling stock comparable to the rolling stock for which the equipment and materials are to be used shall be considered a project for construction of an associated capital maintenance item under this section.". (c) FEDERAL SHARE.—The first sentence of section 9(k)(l) of such Act is amended by striking out "shall not exceed" the first place it appears and inserting in lieu thereof "shall be". (d) LOCAL MATCH.—The first sentence of section 9(k)(l) of such Act is further amended by striking out "such project" and inserting in lieu thereof "such project; however, a recipient is permitted to provide additional local match at its option". (e) MAINTENANCE REQUIREMENT.—Section 3(a)(2)(A) of such Act is amended to read as follows: "(2)(A) No grant or loan shall be provided under this section unless the Secretary determines that the applicant— "(i) has or will have the legal, financial, and technical capacity to carry out the proposed project; "(ii) has or will have satisfactory continuing control, through operation or lease or otherwise, over the use of the facilities and the equipment; and "(iii) has or will have sufficient capability to maintain the facilities and equipment, and will maintain, such facilities and equipment.". (f) CONFORMING AMENDMENT.—The first sentence of section 9(k)(l) of such Act is further amended by striking out "(including capital maintenance items)" and inserting in lieu thereof "(including any project for the acquisition or construction of an associated capital maintenance item)'.

49 USC app. 1607a.

Grants. Contracts.

49 USC app. 1602. Grants. Loans.

SEC. 310. LONG-TERM FINANCIAL PLANNING.

Section 8(a) of the Urban Mass Transportation Act of 1964 is 49 USC app. amended by inserting before the period at the end of the third 1607. sentence the following: "and development of long-term financial plans for regional urban mass transit improvements and the reve-

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