Page:United States Statutes at Large Volume 108 Part 2.djvu/220

 108 STAT. 936 PUBLIC LAW 103-272—JULY 5, 1994 (C) freight carriers operating more than 150,000 train miles a year on the main line of the Northeast Corridor; (D) commuter agencies; (E) rail passengers; (F) rail labor; and (G) other individuals and organizations the Secretary decides have a significant interest in rail safety. (2) The Secretary shall consult with the Committee about safety improvements on the Northeast Corridor main line. The Committee shall meet at least once every 2 years to consider safety matters on the main line. (3) At the beginning of the first session of each Congress, the Secretary shall submit a report to Congress on the status of efforts to improve safety on the Northeast Corridor main line. The report shall include the safety recommendations of the Committee and the comments of the Secretary on those recommendations. (4) The Committee shall cease to exist on January 1, 1999, or on another date the Secretary decides is appropriate. The Secretary shall notify Congress in writing of a decision to terminate the Committee on another date. § 24906. Eliminating highway at-grade crossings (a) PLAN. — In consultation with the States on the main line of the Northeast Corridor, the Secretary of Transportation shall develop a plan not later than September 30, 1993, to eliminate all highway at-grade crossings of the main line by not later than December 31, 1997. The plan may provide that eliminating a crossing is not required if— (1) impracticable or unnecessary; and (2) using the crossing is consistent with conditions the Secretary considers appropriate to ensure safety. (b) AMTRAK'S SHARE OF COSTS.— Amtrak shall pay 20 percent of the cost of eliminating each highway at-grade crossing under the plan. §24907. Note and mortgage (a) GENERAL AUTHORITY. —To secure amounts expended by the United States (government to acquire and improve rail property designated under section 206(c)(1)(C) and (D) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(c)(1)(C) and (D)), the Secretary of Transportation may obtain a note of indebtedness from, and make a mortgage agreement with, Amtrak to establish a mortgage lien on the property for the Government. The note and mortgage may not supersede section 24904 of this title. (b) EXEMPTIONS FROM LAWS AND REOULATiONS.The note and agreement under subsection (a) of this section, and a transaction related to the note or agreement, are exempt from any United States, State, or local law or regulation that regulates securities or the issuance of securities. The note, agreement, or transaction under this section has the same immunities from other laws that section 601 of the Act (45 U.S.C. 791) gives to transactions that comply with or carry out the final system plan. The transfer of rail property because of the note, agreement, or transaction has the same exemptions, privileges, and immunities that the Act (45 U.S.C. 701 et seq.) gives to a transfer ordered or approved by the special court under section 303(b) of the Act (45 U.S.C. 743(b)).

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