H. R. 2095—66 
(B) include the report described in subparagraph (A) 
in Amtrak’s annual report; and 
(C) post such report on Amtrak’s website. 
(b) VERIFICATION OF SYSTEM; REPORT.—The Inspector General 
of the Department of Transportation shall review the accounting 
system designed and implemented under subsection (a) to ensure 
that it accomplishes the purposes for which it is intended. The 
Inspector General shall report his or her findings and conclusions, 
together with any recommendations, to the Committee on Transpor-
tation and Infrastructure of the House of Representatives and the 
Committee on Commerce, Science, and Transportation of the 
Senate. 
(c) CATEGORIZATION OF REVENUES AND EXPENSES.—In carrying 
out subsection (a), the Amtrak Board of Directors shall separately 
categorize assigned revenues and attributable expenses by type 
of service, including long-distance routes, State-sponsored routes, 
commuter contract routes, and Northeast Corridor routes. 
SEC. 204. DEVELOPMENT OF 5-YEAR FINANCIAL PLAN. 
(a) DEVELOPMENT OF 5-YEAR FINANCIAL PLAN.—The Amtrak 
Board of Directors shall submit an annual budget and business 
plan for Amtrak, and a 5-year financial plan for the fiscal year 
to which that budget and business plan relate and the subsequent 
4 years, prepared in accordance with this section, to the Secretary 
and the Inspector General of the Department of Transportation 
no later than— 
(1) the first day of each fiscal year beginning after the 
date of enactment of this Act; or 
(2) the date that is 60 days after the date of enactment 
of an appropriations Act for the fiscal year, if later. 
(b) CONTENTS OF 5-YEAR FINANCIAL PLAN.—The 5-year financial 
plan for Amtrak shall include, at a minimum— 
(1) all projected revenues and expenditures for Amtrak, 
including governmental funding sources; 
(2) projected ridership levels for all Amtrak passenger oper-
ations; 
(3) revenue and expenditure forecasts for non-passenger 
operations; 
(4) capital funding requirements and expenditures nec-
essary to maintain passenger service in order to accommodate 
predicted ridership levels and predicted sources of capital 
funding; 
(5) operational funding needs, if any, to maintain current 
and projected levels of passenger service, including State-sup-
ported routes and predicted funding sources; 
(6) projected capital and operating requirements, ridership, 
and revenue for any new passenger service operations or service 
expansions; 
(7) an assessment of the continuing financial stability of 
Amtrak, as indicated by factors such as anticipated Federal 
funding of capital and operating costs, Amtrak’s ability to effi-
ciently recruit, retain, and manage its workforce, and Amtrak’s 
ability to effectively provide passenger rail service; 
(8) estimates of long-term and short-term debt and associ-
ated principal and interest payments (both current and antici-
pated); 
(9) annual cash flow forecasts;
H. R. 2095—67 
(10) a statement describing methods of estimation and 
significant assumptions; 
(11) specific measures that demonstrate measurable 
improvement year over year in the financial results of Amtrak’s 
operations; 
(12) prior fiscal year and projected operating ratio, cash 
operating loss, and cash operating loss per passenger on a 
route, business line, and corporate basis; 
(13) prior fiscal year and projected specific costs and 
savings estimates resulting from reform initiatives; 
(14) prior fiscal year and projected labor productivity statis-
tics on a route, business line, and corporate basis; 
(15) prior fiscal year and projected equipment reliability 
statistics; and 
(16) capital and operating expenditures for anticipated 
security needs. 
(c) STANDARDS TO PROMOTE FINANCIAL STABILITY.—In meeting 
the requirements of subsection (b), Amtrak shall— 
(1) apply sound budgetary practices, including reducing 
costs 
and 
other 
expenditures, 
improving 
productivity, 
increasing revenues, or combinations of such practices; 
(2) use the categories specified in the financial accounting 
and reporting system developed under section 203 when pre-
paring its 5-year financial plan; and 
(3) ensure that the plan is consistent with the authoriza-
tions of appropriations under title I of this division. 
(d) REVIEW BY DOT INSPECTOR GENERAL.—Within 60 days after 
their submission by Amtrak, the Inspector General of the Depart-
ment of Transportation shall review the annual budget and the 
5-year financial plans prepared by Amtrak under this section to 
determine whether they meet the requirements of subsection (b) 
and shall furnish any relevant findings to the Committee on 
Transportation and Infrastructure of the House of Representatives, 
the Committee on Appropriations of the House of Representatives, 
the Committee on Commerce, Science, and Transportation of the 
Senate, and the Committee on Appropriations of the Senate. 
SEC. 205. RESTRUCTURING LONG-TERM DEBT AND CAPITAL LEASES. 
(a) IN GENERAL.—The Secretary of the Treasury, in consultation 
with the Secretary and Amtrak, may make agreements to restruc-
ture Amtrak’s indebtedness as of the date of enactment of this 
Act. This authorization expires 2 years after the date of enactment 
of this Act. 
(b) DEBT RESTRUCTURING.—The Secretary of the Treasury, in 
consultation with the Secretary and Amtrak, shall enter into nego-
tiations with the holders of Amtrak debt, including leases, out-
standing as of the date of enactment of this Act for the purpose 
of restructuring (including repayment) and repaying that debt. The 
Secretary of the Treasury may secure agreements for restructuring 
or repayment on such terms as the Secretary of the Treasury 
deems favorable to the interests of the United States Government. 
(c) CRITERIA.—In restructuring Amtrak’s indebtedness, the Sec-
retary of the Treasury and Amtrak— 
(1) shall take into consideration repayment costs, the term 
of any loan or loans, and market conditions; and 
(2) shall ensure that the restructuring results in significant 
savings to Amtrak and the United States Government.
H. R. 2095—68 
(d) PAYMENT OF RENEGOTIATED DEBT.—If the criteria under 
subsection (c) are met, the Secretary of the Treasury may assume 
or repay the restructured debt, as appropriate. 
(e) AMTRAK PRINCIPAL AND INTEREST PAYMENTS.— 
(1) PRINCIPAL ON DEBT SERVICE.—Unless the Secretary of 
the Treasury makes sufficient payments to creditors under 
subsection (d) so that Amtrak is required to make no payments 
to creditors in a fiscal year, the Secretary shall use funds 
authorized by section 102 of this division for the use of Amtrak 
for retirement of principal or payment of interest on loans 
for capital equipment, or capital leases. 
(2) REDUCTIONS
IN
AUTHORIZATION
LEVELS.—Whenever 
action taken by the Secretary of the Treasury under subsection 
(a) results in reductions in amounts of principal or interest 
that Amtrak must service on existing debt, the corresponding 
amounts authorized by section 102 shall be reduced accordingly. 
(f) LEGAL EFFECT OF PAYMENTS UNDER THIS SECTION.—The 
payment of principal and interest on secured debt, other than 
debt assumed under subsection (d), with the proceeds of grants 
under subsection (e) shall not— 
(1) modify the extent or nature of any indebtedness of 
Amtrak to the United States in existence as of the date of 
enactment of this Act; 
(2) change the private nature of Amtrak’s or its successors’ 
liabilities; or 
(3) imply any Federal guarantee or commitment to amortize 
Amtrak’s outstanding indebtedness. 
(g) SECRETARY APPROVAL.—Amtrak may not incur more debt 
after the date of enactment of this Act without the express advance 
approval of the Secretary. 
(h) REPORT.—The Secretary of the Treasury shall transmit 
a report to the Committee on Transportation and Infrastructure 
of the House of Representatives, the Committee on Appropriations 
of the House of Representatives, the Committee on Commerce, 
Science, and Transportation of the Senate, and the Committee 
on Appropriations of the Senate, by June 1, 2010— 
(1) describing in detail any agreements to restructure the 
Amtrak debt; and 
(2) providing an estimate of the savings to Amtrak and 
the United States Government. 
SEC. 206. ESTABLISHMENT OF GRANT PROCESS. 
(a) GRANT REQUESTS.—Amtrak shall submit grant requests 
(including a schedule for the disbursement of funds), consistent 
with the requirements of this division, to the Secretary for funds 
authorized to be appropriated to the Secretary for the use of Amtrak 
under sections 101(a), (b), and (c), 102, 219(b), and 302. 
(b) PROCEDURES FOR GRANT REQUESTS.—The Secretary shall 
establish substantive and procedural requirements, including sched-
ules, for grant requests under this section not later than 30 days 
after the date of enactment of this Act and shall transmit copies 
of such requirements and schedules to the Committee on Transpor-
tation and Infrastructure of the House of Representatives and the 
Committee on Commerce, Science, and Transportation of the 
Senate. As part of those requirements, the Secretary shall require, 
at a minimum, that Amtrak deposit grant funds, consistent with
H. R. 2095—69 
the appropriated amounts for each area of expenditure in a given 
fiscal year, in the following 2 accounts: 
(1) The Amtrak Operating account. 
(2) The Amtrak General Capital account. 
Amtrak may not transfer such funds to another account or expend 
such funds for any purpose other than the purposes covered by 
the account in which the funds are deposited without approval 
by the Secretary. 
(c) REVIEW AND APPROVAL.— 
(1) 30-DAY APPROVAL PROCESS.—The Secretary shall com-
plete the review of a grant request (including the disbursement 
schedule) and approve or disapprove the request within 30 
days after the date on which Amtrak submits the grant request. 
If the Secretary disapproves the request or determines that 
the request is incomplete or deficient, the Secretary shall 
include the reason for disapproval or the incomplete items 
or deficiencies in a notice to Amtrak. 
(2) 15-DAY MODIFICATION PERIOD.—Within 15 days after 
receiving notification from the Secretary under the preceding 
sentence, Amtrak shall submit a modified request for the Sec-
retary’s review. 
(3) REVISED
REQUESTS.—Within 15 days after receiving 
a modified request from Amtrak, the Secretary shall either 
approve the modified request, or, if the Secretary finds that 
the request is still incomplete or deficient, the Secretary shall 
identify in writing to the Committee on Transportation and 
Infrastructure of the House of Representatives and the Com-
mittee on Commerce, Science, and Transportation of the Senate 
the remaining deficiencies and recommend a process for 
resolving the outstanding portions of the request. 
SEC. 207. METRICS AND STANDARDS. 
(a) IN GENERAL.—Within 180 days after the date of enactment 
of this Act, the Federal Railroad Administration and Amtrak shall 
jointly, in consultation with the Surface Transportation Board, rail 
carriers over whose rail lines Amtrak trains operate, States, Amtrak 
employees, nonprofit employee organizations representing Amtrak 
employees, and groups representing Amtrak passengers, as appro-
priate, develop new or improve existing metrics and minimum 
standards for measuring the performance and service quality of 
intercity passenger train operations, including cost recovery, on- 
time performance and minutes of delay, ridership, on-board services, 
stations, facilities, equipment, and other services. Such metrics, 
at a minimum, shall include the percentage of avoidable and fully 
allocated operating costs covered by passenger revenues on each 
route, ridership per train mile operated, measures of on-time 
performance and delays incurred by intercity passenger trains on 
the rail lines of each rail carrier and, for long-distance routes, 
measures of connectivity with other routes in all regions currently 
receiving Amtrak service and the transportation needs of commu-
nities and populations that are not well-served by other forms 
of intercity transportation. Amtrak shall provide reasonable access 
to the Federal Railroad Administration in order to enable the 
Administration to carry out its duty under this section. 
(b) QUARTERLY REPORTS.—The Administrator of the Federal 
Railroad Administration shall collect the necessary data and publish