Page:United States Statutes at Large Volume 106 Part 4.djvu/781

 PUBLIC LAW 102-533—OCT. 27, 1992 106 STAT. 3517 amended by inserting after the item relating to section 707 the following new item: "Sec. 708. Program master plan.". SEC. S. AUTHORIZATION OF FREFEBRED STOCK. Section 304(c) of the Rail Passenger Service Act (45 U.S.C. 544(c)) is amended by adding at the end the following new paragraph: "(4) No amendment to the articles of incorporation of the Corporation shall be required for the issuance of the preferred stock required to be issued pursuant to this subsection.". SEC. 6. PROPERTY FINANCING. Section 306(n) of the Rail Passenger Service Act (45 U.S.C. 546(n)) is amended to read as follows: "(n)(1) The Corporation shall not be required to pay any additional taxes as a consequence of its expenditure of funds to acquire or improve real property, equipment, facilities, or right-of-wa^ materials or structures used directly or indirectly in the provision of rail passenger service. For purposes of this subsection, 'additional taxes' means taxes or fees (A) on the acquisition, improvement, ownership, or operation of personal property by the Corporation; and (B) on real property other than taxes or fees on the acquisition of real property, or on the value of real property which is not attributable to improvements made, or the operation of such improvements, by the Corporation. "(2) For purposes or this subsection, the term 'Corporation' includes the Corporation's railroad subsidiaries and any lessors and lessees of the Corporation or its railroad subsidiaries.". SEC. 7. AUTHORIZATION OF APPROPRIATIONS. (a) AUTHORIZATION OF APPROPRIATIONS.—Section 601 of the Rail Passenger Service Act (45 U.S.C. 601) is amended to read as follows: •nSEC. 601. AUTHORIZATION OF APPROPRIATIONS. "(a) CAPITAL ACQUISITION AND CORRIDOR DEVELOPMENT.— "(1) NORTHEAST CORRIDOR.— There are authorized to be appropriated to the Secretary for the benefit of the Corporation for making capital expenditures under title VII of the Railroad Revitalization and Regulatory Improvement Act of 1976 (45 U.S.C. 851 et seq.>- "(A) $220,000,000 forfiscalyear 1993; and " (B) $250,000,000 forfiscalyear 1994. "(2) GENERAL CAPITAL EXPENDITURES.— There are authorized to be appropriated to the Secretary for the benefit of the Corporation for making capital expenditures under this Act— "(A) $250,000,000 forfiscalyear 1993; and "(B) $250,000,000 forfiscalyear 1994. "(3) NEW CORRIDOR DEVELOPMENT. — "(A) IN GENERAL.— Of the amounts appropriated pursuant to paragraphs (1) and (2), not more than 15 percent of each amount shall be made available for projects described in subparagraphs (B) and (C) of this paragraph. "(B) CORRIDORS BETWEEN DENSELY POPULATED CITIES.— (i) Except as provided in clause (ii), funds made

�