Page:United States Statutes at Large Volume 86.djvu/275

 86 STAT. ]

PUBLIC LAW 92-316-JUNE 22, 1972

(b) Section 602(b), (c), (d), (e), and (f) of the Rail Passenger Service Act of 1970, as amended by subsection (a) of this section shall also apply to guarantees made by the Secretary prior to the enactment of this Act. The amendment of section 602(a) shall not affect the legality of guarantees made by the Secretary prior to the enactment of this Act, but such guarantees shall continue in effect until discharged by payment of the loan guaranteed, together with interest, after such date. SEC. 11. Section 805 of the Rail Passenger Service Act of 1970 (45 U.S.C. 644) is amended— (1) by inserting "AND CERTAIN RAILROADS'" immediately before uie period at the end of the section heading; and (2) by redesignating paragraph (B) of subsection (2) as paragraph (C) and inserting immediately after paragraph (A) the following new paragraph: " (B) To the extent the Comptroller General deems necessary in connection with audits as he may make of the financial transactions of the Corporation pursuant to paragraph (A) of this subsection, his representatives shall have access to all books, accounts, records, reports, files, and other papers, things, or property belonging to or in use by any railroad with which the Corporation has entered into a contract for the performance of intercity rail passenger service, pertaining to such railroad's financial transactions and necessary to facilitate the audit, and such representatives shall be afforded full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians. All such books, accounts, records, reports, files, papers, and property of such railroad shall remain in the possession and custody of the railroad.". SEC. 12. Title VIII of the Rail Passenger Service Act of 1970 (45 U.S.C. 641-644) is amended by adding at the end thereof the following new section: "SEC. 806. REPORT BY SECRETARY OF TRANSPORTATION. " (a) The Secretary shall, on or before March 15, 1973. transmit to the Congress a comprehensive report on the effectiveness of this Act in achieving and promoting intercity rail passenger service and on the effectiveness of the Corporation in implementing the purposes of this Act. Such report shall include an evaluation by the Secretary of the intercity rail passenger service operations assumed by the Corporation including, but not limited to, adequacy and effectiveness of services, on-time performance, reservations and ticketing, scheduling, equipment, fare structures, routes, and immediate and long-term financial needs. " (b) In addition to the general evaluation and assessment required under subsection (a) of this section, the report by the Secretary shall include— "(1) recommendations for the orderly assumption by the Corporation of the operation and control of all aspects of its intercity rail passenger service, including the performance by the Corporation of all full-time functions solely related to the intercity rail passenger service provided by it under this x\ct; "(2) an assessment of whether the board of directors of the Corporation adequately and fairly represents the members of the public who utilize intercity rail passenger services and, if necessary, recommendations for appropriate changes in the composition of such board of directors; "(3) estimates of potential revenues for the Corporation from the transportation of mail and express on intercity passenger trains;

233 Ante, p. 232.

84 Stat. 1340.

GAG audit.

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