Page:United States Statutes at Large Volume 94 Part 2.djvu/618

 94 STAT. 1896

PUBLIC LAW 96-448—OCT. 14, 1980 TITLE IV-RAILROAD MODERNIZATION ASSISTANCE

Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec.

401. Feeder railroad development program. 402. Abandounent. 403. Conversion of abandoned railroad rights-of-way. 404. Extension of redeemable preference share financing. 405. Financing. 406. Tremsaction assisttmce. 407. Electrification loan guarantees. 408. Amendment to the R^onal Rail Reorganization Act of 1973. 409. Federal assistance report. TITLE V-CONRAIL TITLE V LABOR PROTECTION

Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec.

501. Monthly displacement allowance. 502. Duration of monthly displacement allowance. 503. Training and transfer. 504. Payment, audit, and report. 505. Railroad hiring. 506. Single collective-bargaining agreement. 507. Employee protection payments. 508. Technical amendments. TITLE VI—EXPEDITED SUPPLEMENTAL TRANSACTION PROPOSALS

Sec. 601. Expedited supplemental transaction proposals. TITLE Vn—MISCELLANEOUS PROVISIONS Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec.

49 USC 10101a ^°^-

701. Rock Island and Milwaukee Railroads amendments. 702. Loan guarantees. 703. Conrail studies and emergency funding. 704. USRA authorization of appropriations. 705. Feeder line rehabilitation study. 706. Effect on pending matters. 707. Construction of amendments. 708. Surplus property. 709. Study of Alaska railroad rates. 710. Effective dates. FINDINGS

SEC. 2. The Congress hereby finds that— (1) historically, railroads were the essential factor in the national transportation system; (2) the enactment of the Interstate Commerce Act was essential to prevent an abuse of monopoly power by railroads and to establish and maintain a national railroad network; (3) today, most transportation within the United States is competitive; (4) many of the Government regulations affecting railroads have become unnecessary and inefficient; (5) nearly two-thirds of the Nation's intercity freight is transported by modes of transportation other than railroad; (6) earnings by the railroad industry are the lowest of any transportation mode and are insufficient to generate funds for necessary capital improvements; (7) by 1985, there will be a capital shortfall within the railroad industry of between $16,000,000,000 and $20,000,000,000; (8) failure to achieve increased earnings within the railroad industry will result in either further deterioration of the rail system or the necessity for additional Federal subsidy; and (9) modernization of economic regulation for the railroad industry with a greater reliance on the marketplace is essential

�