independent and self-sufficient entity shortly there-
after;
(2) although Amtrak is not a department, agen-
cy, or instrumentality of the Federal Government, it
cannot operate without large, annual Federal sub-
sidies;
(3) while Amtrak carries only .3 percent of all
intercity travelers, it has cost the American tax-
payers over $15,000,000,000 in subsidies since its
creation;
(4) Amtrak has been appropriated nearly
$1,000,000,000 in Federal subsidies for fiscal year
1995, and General Accounting Office estimates show
it could require another $10,000,000,000 in sub-
sidies over the next 5 years to remain viable;
(5) the General Accounting Office has con-
cluded that Amtrak’s expenses will continue to in-
crease steadily over the next few years due to its
need to—
(A) renegotiate its operating agreements
with the freight railroads;
(B) renegotiate work rules and labor com-
pensation with the 14 unions that represent its
employees; and
(C) invest in modern locomotives and pas-
senger cars;
(6) the General Accounting Office has con-
cluded that Amtrak’s financial condition has deterio-
rated to the point that its future costs make recov-
ery difficult;
(7) the statutory requirements imposed on Am-
trak ensure that its rail passenger service will be
costly, inefficient, and unable to post a profit; and
(8) the application of the Railway Labor Act
and the Federal Employers’ Liability Act to rail pas-
senger service employees is excessive, costly, and
burdensome and should be reduced to a more realis-
tic level.
(b) REPEAL.—Section 24101 of title 49, United
States Code, and the item relating thereto in the table of
sections of chapter 241 of such title, are repealed.
SEC. 2. DEFINITIONS.
Section 24102 of such title is amended—
(1) by striking paragraphs (1), (2), (3), (6),
(7), (10), and (11); and
(2) by redesignating paragraphs (4), (5), (8),
and (9) as paragraphs (1), (2), (3), and (4), respec-
tively.
SEC. 3. ENFORCEMENT.
Section 24103 of such title is amended—
(1) by repealing subsection (b); and
(2) by redesignating subsection (c) as sub-
section (b).
SEC. 4. AUTHORIZATION OF APPROPRIATIONS.
Section 24104 of such title is amended to read as
follows:
‘‘§ 24104. Authorization of appropriations
‘‘There are authorized to be appropriated to the Sec-
retary of Transportation for the benefit of Amtrak—
‘‘(1) $902,000,000 for fiscal year 1996;
‘‘(2) $652,000,000 for fiscal year 1997;
‘‘(3) $402,000,000 for fiscal year 1998; and
‘‘(4) $152,000,000 for fiscal year 1999.’’.
SEC. 5. CHAPTER 243 AMENDMENTS.
Chapter 243 of such title is amended—
(1) in the table of sections—
(A) by striking the items relating to sec-
tions 24302 through 24315; and
(B) by inserting after the item relating to
section 24301 the following new item:
‘‘24302. Relinquishment of rights to stock, notes, and mortgages.’’;
(2) in section 24301—
(A) by repealing subsections (b), (c), (d),
(e), (f), (g), (h), (i), (j), (k), (l), and (n); and
(B) by redesignating subsection (m) as
subsection (b);
(3) by repealing sections 24302 through 25315;
and
(4) by adding at the end the following new sec-
tion:
‘‘§ 24302. Relinquishment of rights to stock, notes,
and mortgages
‘‘The United States relinquishes any rights held by
virtue of any stock, note of indebtedness, or mortgage is-
sued by or entered into with Amtrak.’’.
SEC. 6. CHAPTER 245 AMENDMENTS.
(a) 
SECTION
24501(g) 
AMENDMENT.—Section
24501(g) of such title is amended by striking ‘‘Amtrak
is exempt’’ and inserting in lieu thereof ‘‘Amtrak Com-
muter is exempt’’.
(b) SECTION 24504(c) REPEAL.—Section 24504(c)
of such title is repealed.
SEC. 7. CHAPTERS 247 AND 249 REPEALED.
Chapters 247 and 249 of such title are repealed.
SEC. 8. SERVICE DISCONTINUANCE.
(a) AMENDMENT.—Chapter 241 of such title is
amended by adding at the end the following new section:
‘‘§ 24105. Service discontinuance
‘‘(a) WAGE CONTINUATION OR SEVERANCE BENE-
FIT.—Notwithstanding any arrangement in effect before
the date of enactment of this section, no employee of a
rail carrier providing rail passenger transportation whose
employment is terminated as a result of a discontinuance
of intercity rail passenger service shall receive any wage
continuation or severance benefit in excess of 6 months
pay. This subsection shall not affect the obligations of rail
carriers under section 11347 of this title.
‘‘(b) TRANSFER.—Notwithstanding any arrangement
in effect before the date of enactment of this section, a
rail carrier providing rail passenger transportation may
require an employee whose position is eliminated as a re-
sult of a discontinuance of intercity rail passenger service
to transfer to any vacant position for which the employee
can be made qualified on any part of such rail carrier’s
system. If such transfer requires a change in residence or
seniority district, the employee shall choose—
‘‘(1) to transfer to the position and be covered
by the collective bargaining agreement applicable to
the seniority district to which he is transferred; or
‘‘(2) to voluntarily furlough himself at his home
location and receive protective benefits not in excess
of the amount authorized under subsection (a).