Page:United States Statutes at Large Volume 95.djvu/724

 95 STAT. 698

PUBLIC LAW 97-35—AUG. 13, 1981 LOAN GUARANTEES

Recommendations, submittal to Congress.

SEC. 1186. (a) Section 602(d) of the Rail Passenger Service Act (45 U.S;C. 602(d)) is amended— (1) by striking out "$900,000,000" each place it appears and Inserting in lieu thereof "$930,000,000"; and (2) by striking out the last sentence. (b) Section 602 of the Rail Passenger Service Act (45 U.S.C. 602) is amended by adding at the end thereof the following new subsections: "(j) During the period beginning October 1, 1981, and ending September 30, 1983, the interest due to the Federal Financing Bank from the Corporation on debt of the Corporation held by the Federal Government shall be deferred. During such period the interest so deferred shall be added to the principal of the debt owed to the Federal Government. The deferral of payment under this subsection shall not constitute a default under any note or obligation of the Corporation. Notwithstanding the deferral of interest provided for under this subsection, the Secretary shall guarantee loans to the Corporation to meet commitments under previously approved capital programs and to repay existing notes and equipment obligations. "(k) Before February 1, 1982, the Department of Transportation, in consultation with the General Accounting Office, the Corporation, and the Department of the Treasury, shall submit to the Congress legislative recommendations for how best to relieve Amtrak of its debt to the Federal Government.". RAIL CORRIDOR DEVELOPMENT AND OTHER STUDIES

Report to Congress. 45 USC 651 note.

Study; report to Congress.

SEC. 1187. (a) Not later than June 1, 1982, the National Railroad Passenger Corporation shall transmit to the Congress a report containing its recommendations for the development of rail corridors. Such report shall contedn— (1) an identification of those rail corridors which the Corporation would propose to develop, taking into consideration factors such as (A) the projected cost-effectiveness, energy efficiency, and ridership of rail corridors recommended for development, (B) the need to preserve regional balance in rail passenger service, (C) the share of intercity passengers which would be attracted by rail corridor service, and (D) the willingness of private sector interests or State and local governments, or both, to contribute to the development of rail corridors; (2) a timetable for the development of rail corridors, including schedules for (A) the negotiation of agreements with the rail carriers, private interests, and State and local governments, (B) the acquisition of equipment, (C) the improvement of fixed facilities, and (D) the implementation of service; and (3) a financial plan, including recommendations for reductions in the cost of existing service, during the timetable proposed pursuant to paragraph (2) of this subsection. (b) The National Railroad Passenger Corporation, representatives of labor, and the American Association of Railroads shall, within six months after the effective date of this subtitle, conduct a study and submit a joint report to the Congress regarding their efforts to achieve greater efficiencies in management and labor practices. Such report shall include a description of efforts by such corporation toward efficiencies in the management of such corporation, recommendations for further efficiencies, and any other appropriate legislative recommendations.

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