Page:United States Statutes at Large Volume 95.djvu/679

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 653

"ADDITIONAL PURCHASES OF SERIES A PREFERRED STOCK "SEC. 217. (a) FEDERAL INVESTMENT.—In addition to the authority

45 USC 727.

provided under section 216 of this Act, the Association shall purchase 45 USC 726. shares of Series A preferred stock and accounts receivable of the Corporation after the effective date of the Northeast Rail Service Act of 1981, in amounts not to exceed a total of $262,000,000. "GJ) ACCOUNTS RECEIVABLE.—(1) In any further purchase under this section or section 216 of this title the Association shall purchase accounts receivable of the Corporation attributable to the dispute over the right-of-way related costs described in section 1163 of the Northeast Rail Service Act of 1981 until the Commission resolves Post, p. 685. such dispute under such section, and accounts receivable of the Corporation attributable to delays in reimbursement from commuter authorities. "(2) From funds provided under this section or section 216 of this Act, the Association shall purchase Series A preferred stock of the Corporation, to the extent of losses on commuter service, in an amount not to exceed $15,000,000. "(c) STATES AND LOCALITIES.—The Corporation shall be exempt from liability for any State tax, except for any tax imposed by any political subdivision of a State, until the property of the Corporation is transferred by the Secretary under title IV of this Act. Post, p. 654. "(d) DEBENTURES.—The Association shall return debentures to the Corporation in an amount equal to the value of the properties conveyed by the Corporation to Amtrak Commuter and any commuter authority. "(e) RIGHTS RETAINED.—The Corporation shall retain the right to collect and shall collect any accounts receivable attributable to delays in reimbursement from commuter authorities that are purchased by the Association under this section. No agency or instrumentality of the United States shall be required to collect such accounts. "(f) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated to the Association for purposes of purchasing securities and accounts receivable of the Corporation under this section not to exceed $262,000,000, such sums to remain available until the Secretary transfers the Corporation under title IV of this Act. All sums received on account of the holding or disposition of any such securities or accounts receivable shall be deposited in the general fund of the Tresisury.". (b) The table of contents of the Regional Rail Reorganization Act of 1973 is amended by inserting immediately after the item relating to section 216 the following new item: "Sec. 217. Additional purchases of Series A preferred stock.". ORGANIZATION AND STRUCTURE OF CONRAIL

SEC. 1141. (a) Section 301(d)(2) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 741(d)(2)) is amended— (1) by striking out "(other than resignations pursuant to this subsection)" in the second sentence; and (2) by striking out the third, fourth, and fifth sentences. (b) Section 301(e)(1) of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 741(e)(1)) is amended by striking out "In order to carry out the final system plan, the" and inserting in lieu thereof "The". (c) Section 301 of the Regional Rail Reorganization Act of 1973 (45 U.S.C. 741) is amended by striking out subsection (j) and inserting in lieu thereof the following new subsection:

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