Page:United States Statutes at Large Volume 89.djvu/153

 PUBLIC LAW 94-25—MAY 26, 1975

89 STAT. 91

SEC. 12. Section r01(c)(l) of such Act (45 U.S.C. 621(c)(1)), Liquidation of relating to liquidation of the assets of any railroad recipient of a assets. loan or loan guarantee, is amended by adding at the end thereof the following new sentence: "In the case of a railroad in reorganization (as defined in section 102(12) of the Regional Rail Reorganization Act of 1973) which has an agreement with the Corporation to provide 45 USC 702. intercity rail passenger service on the date of enactment of this sentence, the sale by such railroad of any right-of-way or track over which the Corporation is required to provide intercity rail passenger service on such date of enactment (as an experimental route designated by the Secretary before such date of enactment) shall be deemed to be a liquidation of the assets of such railroad under the first sentence of this paragraph, and the Secretary shall acquire such right, title, and interest in such right-of-way or track, and restore it to such condition, as may be necessary to permit the Corporation to provide intercity rail passenger service over the designated route.". SEC. 13. Section 4(i)(2) of the Department of Transportation Act, Railroad terminal as added by the Amtrak Improvement Act of 1974 (94 U.S.C. 1653 conversion, _(i)(2)), is amended by striking out the last two sentences and insert- grants, limitation. ing in lieu thereof the following: "Any grant made by the Secretary 49 USC 1653. under this paragraph shall not exceed 60 per centum of the total cost of conversion of a railroad passenger terminal into an intermodal transportation terminal.". Approved May 26, 1975.

LEGISLATIVE HISTORY: HOUSE REPORT No. 94-119 (Comm. on Interstate and Foreign Commerce). SENATE REPORT No. 94-65 accompanying S. 852 (Comm. on Commerce). CONGRESSIONAL RECORD, Vol. 121 (1975): Apr. 24, considered and passed House. May 8, 13, considered and passed Senate. WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 11, No. 22: May 26, Presidential statement.

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