‘‘§ 24304. Employee stock ownership plans
‘‘In issuing stock pursuant to applicable corporate
law, Amtrak is encouraged to include employee stock owner-
ship plans.’’.
(2) The item relating to section 24304 of title 49, Unit-
ed States Code, in the table of sections of chapter 243 of
such title is amended to read as follows:
‘‘24304. Employee stock ownership plans.’’.
(b) REDEMPTION OF COMMON STOCK.—(1) Amtrak
shall, within 2 months after the date of the enactment of
this Act, redeem all common stock previously issued, for the
fair market value of such stock.
(2) Section 28103 of title 49, United States Code, shall
not apply to any rail carrier holding common stock of Am-
trak after the expiration of 2 months after the date of the
enactment of this Act.
(3) Amtrak shall redeem any such common stock held
after the expiration of the 2-month period described in
paragraph (1), using procedures set forth in section
24311(a) and (b).
(c) ELIMINATION OF LIQUIDATION PREFERENCE AND
VOTING RIGHTS OF PREFERRED STOCK.—(1)(A) Preferred
stock of Amtrak held by the Secretary of Transportation
shall confer no liquidation preference.
(B) Subparagraph (A) shall take effect 90 days after
the date of the enactment of this Act.
(2)(A) Preferred stock of Amtrak held by the Secretary
of Transportation shall confer no voting rights.
(B) Subparagraph (A) shall take effect 60 days after
the date of the enactment of this Act.
(d) NOTE AND MORTGAGE.—(1) Section 24907 of title
49, United States Code, and the item relating thereto in
the table of sections of chapter 249 of such title, are repealed.
(2) The United States hereby relinquishes all rights
held in connection with any note obtained or mortgage
made under such section 24907, or in connection with the
note, security agreement, and terms and conditions related
thereto entered into with Amtrak dated October 5, 1983.
(3) No amount shall be includible in Amtrak’s gross
income for Federal tax purposes as a result of the applica-
tion of this subsection or subsection (c).
(e) STATUS
AND APPLICABLE LAWS.—(1) Section
24301(a)(3) of title 49, United States Code, is amended by
inserting ‘‘, and shall not be subject to title 31, United
States Code’’ after ‘‘United States Government’’.
(2) Section 9101(2) of title 31, United States Code,
relating to Government corporations, is amended by strik-
ing subparagraph (A) and redesignating subparagraphs
(B) through (M) as subparagraphs (A) through (L), respec-
tively.
SEC. 502. DISBURSEMENT OF FEDERAL FUNDS.
Section 24104(d) of title 49, United States Code, is
amended to read as follows:
‘‘(d) ADMINISTRATION OF APPROPRIATIONS.—Federal
funds appropriated to Amtrak shall be provided to Amtrak
upon appropriation when requested by Amtrak, and shall
not be includible in Amtrak’s gross income for Federal tax
purposes.’’.
SEC. 503. BOARD OF DIRECTORS.
(a) AMENDMENT.—Section 24302 of title 49, United
States Code, is amended to read as follows:
‘‘§ 24302. Board of Directors
‘‘(a) EMERGENCY REFORM BOARD.—
‘‘(1) ESTABLISHMENT AND DUTIES.—The Emer-
gency Reform Board described in paragraph (2) shall
assume the responsibilities of the Board of Directors
of Amtrak 60 days after the date of the enactment of
the Amtrak Reform and Privatization Act of 1995, or
as soon thereafter as such Board is sufficiently con-
stituted to function as a board of directors under ap-
plicable corporate law. Such Board shall adopt new
bylaws, including procedures for the selection of mem-
bers of the Board of Directors under subsection (c)
which provide for employee representation.
‘‘(2) MEMBERSHIP.—(A) The Emergency Reform
Board shall consist of 7 members appointed by the
President, by and with the advice and consent of the
Senate.
‘‘(B) In selecting individuals for nominations for
appointments to the Emergency Reform Board, the
President should consult with—
‘‘(i) the Speaker of the House of Representa-
tives concerning the appointment of two mem-
bers;
‘‘(ii) the minority leader of the House of
Representatives concerning the appointment of
one member;
‘‘(iii) the majority leader of the Senate con-
cerning the appointment of two members; and
‘‘(iv) the minority leader of the Senate con-
cerning the appointment of one member.
‘‘(C) Appointments under subparagraph (A)
shall be made from among individuals who—
‘‘(i) have technical qualification, profes-
sional standing, and demonstrated expertise in
the fields of intercity common carrier transpor-
tation and corporate management; and
‘‘(ii) are not employees of Amtrak, employ-
ees of the United States, or representatives of rail
labor or rail management.
‘‘(b) DIRECTOR GENERAL.—If the Emergency Reform
Board described in subsection (a)(2) is not sufficiently con-
stituted to function as a board of directors under applicable
corporate law before the expiration of 60 days after the date
of the enactment of the Amtrak Reform and Privatization
Act of 1995, the special court established under section
209(b) of the Regional Rail Reorganization Act of 1973 (45
U.S.C. 719(b)) shall appoint a Director General, who shall
exercise all powers of the Board of Directors of Amtrak until
the Emergency Reform Board assumes such powers.
‘‘(c) BOARD OF DIRECTORS.—Four years after the es-
tablishment of the Emergency Reform Board under sub-
section (a), a Board of Directors shall be selected pursuant
to bylaws adopted by the Emergency Reform Board, and
the Emergency Reform Board shall be dissolved.’’.
(b) EFFECT ON AUTHORIZATIONS.—If the Emergency
Reform Board has not assumed the responsibilities of the
Board of Directors of Amtrak before March 15, 1996, all
provisions authorizing appropriations under the amend-
ments made by section 701 of this Act for a fiscal year after
fiscal year 1996 shall cease to be effective.
SEC. 504. REPORTS AND AUDITS.
Section 24315 of title 49, United States Code, as
amended by section 208 of this Act, is further amended—
(1) by striking subsections (a) and (c);
(2) by redesignating subsections (b), (d), (e), (f),
(g), and (h) as subsections (a), (b), (c), (d), (e), and
(f), respectively; and
(3) in subsection (d), as so redesignated by para-
graph (2) of this section, by striking ‘‘(d) or (e)’’ and
inserting in lieu thereof ‘‘(b) or (c)’’.
SEC. 505. OFFICERS’ PAY.
Section 24303(b) of title 49, United States Code, is
amended by inserting ‘‘The preceding sentence shall cease
to be effective on the expiration of a fiscal year during
which no Federal operating assistance is provided to Am-
trak.’’ after ‘‘with comparable responsibility.’’.
SEC. 506. EXEMPTION FROM TAXES.
Section 24301(l)(1) of title 49, United States Code, is
amended—
(1) by inserting ‘‘, and any passenger or other
customer of Amtrak or such subsidiary,’’ after ‘‘sub-
sidiary of Amtrak’’;
(2) by striking ‘‘or fee imposed’’ and all that fol-
lows through ‘‘levied on it’’ and inserting in lieu
thereof ‘‘, fee, head charge, or other charge, imposed
or levied by a State, political subdivision, or local
taxing authority, directly or indirectly on Amtrak or
on persons traveling in intercity rail passenger trans-
portation or on mail or express transportation pro-
vided by Amtrak or a rail carrier subsidiary of Am-
trak, or on the carriage of such persons, mail, or ex-
press, or on the sale of any such transportation, or on
the gross receipts derived therefrom’’; and
(3) by amending the last sentence thereof to read
as follows: ‘‘In the case of a tax or fee that Amtrak
was required to pay as of September 10, 1982, Am-
trak is not exempt from such tax or fee if it was as-
sessed before April 1, 1995.’’.
TITLE VI—MISCELLANEOUS
SEC. 601. TEMPORARY RAIL ADVISORY COUNCIL.
(a) APPOINTMENT.—Within 30 days after the date of
the enactment of this Act, a Temporary Rail Advisory
Council (in this section referred to as the ‘‘Council’’) shall
be appointed under this section.
(b) DUTIES.—The Council shall—
(1) evaluate Amtrak’s performance;
(2) prepare an analysis and critique of Amtrak’s
business plan;
(3) suggest strategies for further cost contain-
ment and productivity improvements, including
strategies with the potential for further reduction in
Federal operating subsidies and the eventual partial
or complete privatization of Amtrak’s operations; and
(4) recommend appropriate methods for adoption
of uniform cost and accounting procedures throughout
the Amtrak system, based on generally accepted ac-
counting principles.
(c) MEMBERSHIP.—(1) The Council shall consist of 7
members appointed as follows:
(A) Two individuals to be appointed by the
Speaker of the House of Representatives.
(B) One individual to be appointed by the mi-
nority leader of the House of Representatives.
(C) Two individuals to be appointed by the ma-
jority leader of the Senate.
(D) One individual to be appointed by the mi-
nority leader of the Senate.
(E) One individual to be appointed by the Presi-
dent.
(2) Appointments under paragraph (1) shall be made
from among individuals who—
(A) have technical qualification, professional
standing, and demonstrated expertise in the fields of
transportation and corporate management; and
(B) are not employees of Amtrak, employees of
the United States, or representatives of rail labor or
rail management.
(3) Within 40 days after the date of the enactment of
this Act, a majority of the members of the Council shall
elect a chairman from among such members.
(d) TRAVEL EXPENSES.—Each member of the Council
shall serve without pay, but shall receive travel expenses,
including per diem in lieu of subsistence, in accordance
with sections 5702 and 5703 of title 5, United States Code.
(e) ADMINISTRATIVE SUPPORT.—The Secretary of
Transportation shall provide to the Council such adminis-
trative support as the Council requires to carry out this
section.
(f) ACCESS
TO INFORMATION.—Amtrak shall make
available to the Council all information the Council re-
quires to carry out this section. The Council shall establish
appropriate procedures to ensure against the public disclo-
sure of any information obtained under this subsection
which is a trade secret or commercial or financial informa-
tion that is privileged or confidential.
(g) REPORTS.—(1) Within 120 days after the date of
the enactment of this Act, the Council shall transmit to the
Amtrak board of directors and the Congress an interim re-
port on its findings and recommendations.
(2) Within 270 days after the date of the enactment
of this Act, the Council shall transmit to the Amtrak board
of directors and the Congress a final report on its findings
and recommendations.
(h) STATUS.—The Council shall not be subject to the
Federal Advisory Committee Act (5 U.S.C. App.) or section
552 of title 5, United States Code (commonly referred to
as the Freedom of Information Act).
SEC. 602. PRINCIPAL OFFICE AND PLACE OF BUSINESS.
Section 24301(b) of title 49, United States Code, is
amended—
(1) by striking the first sentence;
(2) by striking ‘‘of the District of Columbia’’ and
inserting in lieu thereof ‘‘of the State in which its
principal office and place of business is located’’; and
(3) by inserting ‘‘For purposes of this subsection,
the term ‘State’ includes the District of Columbia.
Notwithstanding section 3 of the District of Columbia
Business Corporation Act, Amtrak, if its principal of-
fice and place of business is located in the District of
Columbia, shall be considered organized under the
provisions of such Act.’’ after ‘‘in a civil action.’’.
SEC. 603. STATUS AND APPLICABLE LAWS.
Section 24301 of title 49, United States Code, is
amended—
(1) in subsection (a)(1), by striking ‘‘rail carrier
under section 10102’’ and inserting in lieu thereof
‘‘railroad carrier under section 20102(2) and chapters
261 and 281’’; and
(2) by amending subsection (c) to read as fol-
lows:
‘‘(c) APPLICATION OF SUBTITLE IV.—Subtitle IV of
this title shall not apply to Amtrak, except for sections
11303, 11342(a), 11504(a) and (d), and 11707. Notwith-
standing the preceding sentence, Amtrak shall continue to
be considered an employer under the Railroad Retirement
Act of 1974, the Railroad Unemployment Insurance Act,
and the Railroad Retirement Tax Act.’’.
SEC. 604. WASTE DISPOSAL.
Section 24301(m)(1)(A) of title 49, United States
Code, is amended by striking ‘‘1996’’ and inserting in lieu
thereof ‘‘2001’’.
SEC. 605. ASSISTANCE FOR UPGRADING FACILITIES.
Section 24310 of title 49, United States Code, and the
item relating thereto in the table of sections of chapter 243
of such title, are repealed.
SEC. 606. RAIL SAFETY SYSTEM PROGRAM.
Section 24313 of title 49, United States Code, and the
item relating thereto in the table of sections of chapter 243
of such title, are repealed.
SEC. 607. DEMONSTRATION OF NEW TECHNOLOGY.
Section 24314 of title 49, United States Code, and the
item relating thereto in the table of sections of chapter 243
of such title, are repealed.
SEC. 608. PROGRAM MASTER PLAN FOR BOSTON-NEW YORK
MAIN LINE.
(a) REPEAL.—Section 24903 of title 49, United States
Code, and the item relating thereto in the table of sections
of chapter 249 of such title, are repealed.
(b) 
CONFORMING
AMENDMENT.—Section
24902(a)(1)(A) of title 49, United States Code, is amended
by striking ‘‘and 40 minutes’’.
SEC. 609. BOSTON-NEW HAVEN ELECTRIFICATION PROJECT.
Section 24902(f) of title 49, United States Code, is
amended—
(1) by inserting ‘‘(1)’’ before ‘‘Improvements
under’’; and
(2) by adding at the end the following new para-
graph:
‘‘(2) Amtrak shall design and construct the electrifica-
tion system between Boston, Massachusetts, and New
Haven, Connecticut, to accommodate the installation of a
third mainline track between Davisville and Central Falls,
Rhode Island, to be used for double-stack freight service to
and from the Port of Davisville. Amtrak shall also make
clearance improvements on the existing main line tracks
to permit double stack service on this line, if funds to defray
the costs of clearance improvements beyond Amtrak’s own
requirements for electrified passenger service are provided
by public or private entities other than Amtrak. Wherever
practicable, Amtrak shall use portal structures and realign
existing tracks on undergrade and overgrade bridges to
minimize the width of the right-of-way required to add the
third track. Amtrak shall take such other steps as may be
required to coordinate and facilitate design and construc-
tion work. The Secretary of Transportation may provide
appropriate support to Amtrak for carrying out this para-
graph.’’.
SEC. 610. AMERICANS WITH DISABILITIES ACT OF 1990.
(a) APPLICATION TO AMTRAK.—Amtrak shall not be
subject to any requirement under section 242(a)(1) and (3)
and (e)(2) of the Americans With Disabilities Act of 1990
(42 U.S.C. 12162(a)(1) and (3) and (e)(2)) until January
1, 1998.
(b) CONFORMING AMENDMENT.—Section 24307 of title
49, United States Code, is amended—
(1) by striking subsection (b); and
(2) by redesignating subsection (c) as subsection
(b).
SEC. 611. DEFINITIONS.
Section 24102 of title 49, United States Code, is
amended—
(1) by striking paragraphs (2), (3), and (11);
(2) by redesignating paragraphs (4) through (8)
as paragraphs (2) through (6), respectively;
(3) by inserting after paragraph (6), as so redes-
ignated by paragraph (2) of this section, the following
new paragraph:
‘‘(7) ‘rail passenger transportation’ means the
interstate, intrastate, or international transportation
of passengers by rail;’’;
(4) in paragraph (6), as so redesignated by
paragraph (2) of this section, by inserting ‘‘, includ-
ing a unit of State or local government,’’ after
‘‘means a person’’; and
(5) by redesignating paragraphs (9) and (10) as
paragraphs (8) and (9), respectively.
SEC. 612. NORTHEAST CORRIDOR COST DISPUTE.
Section 1163 of the Northeast Rail Service Act of 1981
(45 U.S.C. 1111) is repealed.
SEC. 613. INSPECTOR GENERAL ACT OF 1978 AMENDMENT.
(a) AMENDMENT.—Section 8G(a)(2) of the Inspector
General Act of 1978 (5 U.S.C. App.) is amended by striking
‘‘Amtrak,’’.
(b) AMTRAK NOT FEDERAL ENTITY.—Amtrak shall
not be considered a Federal entity for purposes of the In-
spector General Act of 1978.
SEC. 614. CONSOLIDATED RAIL CORPORATION.
Section 4023 of the Conrail Privatization Act (45
U.S.C. 1323), and the item relating thereto in the table of
contents of such Act, are repealed.
SEC. 615. INTERSTATE RAIL COMPACTS.
(a) CONSENT TO COMPACTS.—Congress grants consent
to States with an interest in a specific form, route, or cor-
ridor of intercity passenger rail service (including high
speed rail service) to enter into interstate compacts to pro-
mote the provision of the service, including—
(1) retaining an existing service or commencing
a new service;
(2) assembling rights-of-way; and
(3) performing capital improvements, includ-
ing—
(A) the construction and rehabilitation of
maintenance facilities and intermodal passenger
facilities;
(B) the purchase of locomotives; and
(C) operational improvements, including
communications, signals, and other systems.
(b) FINANCING.—An interstate compact established by
States under subsection (a) may provide that, in order to
carry out the compact, the States may—
(1) accept contributions from a unit of State or
local government or a person;
(2) use any Federal or State funds made avail-
able for intercity passenger rail service (except funds
made available for the National Railroad Passenger
Corporation);
(3) on such terms and conditions as the States
consider advisable—
(A) borrow money on a short-term basis
and issue notes for the borrowing; and
(B) issue bonds; and
(4) obtain financing by other means permitted
under Federal or State law.
SEC. 616. CONFORMING AMENDMENT.
Section 10362(b) of title 49, United States Code, is
amended by striking paragraph (5) and redesignating
paragraphs (6) through (8) as paragraphs (5) through (7),
respectively.
TITLE VII—AUTHORIZATION OF
APPROPRIATIONS
SEC. 701. AUTHORIZATION OF APPROPRIATIONS.
(a) IN GENERAL.—Section 24104(a) of title 49, United
States Code, is amended to read as follows:
‘‘(a) IN GENERAL.—There are authorized to be appro-
priated to the Secretary of Transportation—
‘‘(1) $772,000,000 for fiscal year 1995;
‘‘(2) $712,000,000 for fiscal year 1996;
‘‘(3) $712,000,000 for fiscal year 1997;
‘‘(4) $712,000,000 for fiscal year 1998; and
‘‘(5) $403,000,000 for fiscal year 1999,
for the benefit of Amtrak for capital expenditures under
chapters 243 and 247 of this title, operating expenses, and
payments described in subsection (c)(1)(A) through (C).’’.
(b) ADDITIONAL AUTHORIZATIONS.—Section 24104(b)
of title 49, United States Code, is amended to read as fol-
lows:
‘‘(b) ADDITIONAL AUTHORIZATIONS.—(1) In addition
to amounts appropriated under subsection (a), there are au-
thorized to be appropriated to the Secretary of Transpor-
tation—
‘‘(A) $200,000,000 for fiscal year 1995;
‘‘(B) $200,000,000 for fiscal year 1996;
‘‘(C) $200,000,000 for fiscal year 1997;
‘‘(D) $200,000,000 for fiscal year 1998; and
‘‘(E) $200,000,000 for fiscal year 1999,
for the benefit of Amtrak to make capital expenditures
under chapter 249 of this title.
‘‘(2) In addition to amounts appropriated under sub-
section (a), there are authorized to be appropriated to the
Secretary of Transportation—
‘‘(A) $21,500,000 for fiscal year 1995;
‘‘(B) $10,000,000 for fiscal year 1996;
‘‘(C) $10,000,000 for fiscal year 1997;
‘‘(D) $10,000,000 for fiscal year 1998; and
‘‘(E) $10,000,000 for fiscal year 1999,
for the benefit of Amtrak to be used for engineering, design,
and construction activities to enable the James A. Farley
Post Office in New York, New York, to be used as a train
station and commercial center and for necessary improve-
ments and redevelopment of the existing Pennsylvania Sta-
tion and associated service building in New York, New
York.’’.
(c) CONFORMING AMENDMENTS.—Section 24909 of
title 49, United States Code, and the item relating thereto
in the table of sections of chapter 249 of such title, are re-
pealed.
(d) GUARANTEE OF OBLIGATIONS.—There are author-
ized to be appropriated to the Secretary of Transpor-
tation—
(1) $50,000,000 for fiscal year 1996;
(2) $50,000,000 for fiscal year 1997;
(3) $50,000,000 for fiscal year 1998; and
(4) $50,000,000 for fiscal year 1999,
for guaranteeing obligations of Amtrak under section 511
of the Railroad Revitalization and Regulatory Reform Act
of 1976 (45 U.S.C. 831).
(e) CONDITIONS FOR GUARANTEE OF OBLIGATIONS.—
Section 511(i) of the Railroad Revitalization and Regu-
latory Reform Act of 1976 (45 U.S.C. 831(i)) is amended
by adding at the end the following new paragraph:
‘‘(4) The Secretary shall not require, as a condition
for guarantee of an obligation under this section, that all
preexisting secured obligations of an obligor be subordinated
to the rights of the Secretary in the event of a default.’’.
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