Page:United States Statutes at Large Volume 90 Part 1.djvu/193

 PUBLIC LAW 94-210—FEB. 5, 1976

90 STAT. 143

acquisition and modernization pursuant to this section, or for any project designated pursuant to a State rail plan.". REPEAL

SEC. 806. Effective on the date of the second anniversary of the date on which rail properties are conveyed, pursuant to section 303(b)(1) of the Eegional Rail Reorganization Act of 1973 (45 U.S.C. 743), title IV of such Act is repealed.

Effective date, 45 USC 761-763.

EAIL PASSENGER SERVICE

SEC. 807. Section 206(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 716(d)(5)) is amended to read as follows: "(5) All properties— "(A) transferred by the Corporation pursuant to sections 206(c)(1)(C) and 601(d) of this Act; 45 USC 716, "(B) transferred by the Corporation to any State (or local 791. or regional transportation authority), pursuant to subsection (c)(1)(D) of this section, or "(C) transferred by the Corporation to any State, local or regional transportation authority, or the National Railroad Passenger Corporation, within 900 days after the date of conveyance, pursuant to section 303(b)(1) of this Act, to meet 45 USC 743. the needs of commuter or intercity rail passenger service, shall be transferred at a value related to the value received from the Corporation pursuant to the final system plan for the transfer to such Corporation of such properties. The value of any such properties, which are transferred pursuant to subparagraph (B) or (C) of this paragraph, shall be adjusted to reflect the value attributable to any applicable maintenance and improvement provided by the Corporation (to the extent the Corporation has not been released from the obligation to pay for such improvements) and the cost to the Corporation of transferring such properties.". EMERGENCY OPERATING ASSISTANCE

SEC. 808. The Urban Mass Transportation Act of 1964 is amended by adding at the end thereof the following new section: a EMERGENCY OPERATING ASSISTANCE

"SEC. 17. (a) The Secretary shall provide financial assistance for 49 USC 1613. the purpose of reimbursing— "(1) the Consolidated Rail Corporation, the National Railroad Passenger Corporation, other railroads, and, if applicable, the trustee or trustees of a railroad in reorganization in the region (as defined in section 102 of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 702)) for the costs of rail passenger service operations conducted at a loss during the 180-day mandatory operation period, as required under section 304(e) of fuch Act (45 U.S.C. 744(e)). Such reimbursement shall cover all costs not otherwise paid by a State or a local or regional transportation authority which would have been payable by such State or authority, pursuant to regulations issued by the Office under section 205(d)(5) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 715) if such regulations had been in effect on the date of conveyance of rail properties under section 303(b)(1) of such Act: and

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