Page:United States Statutes at Large Volume 104 Part 3.djvu/821

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.

PUBLIC LAW 101-516—NOV. 5, 1990 104 STAT. 2173 centum of the costs of such improvements shall be derived from non- Amtrak sources. MANDATORY PASSENGER RAIL SERVICE PAYMENTS Notwithstanding any other provision of law, funds provided under this head are available to enable the Secretary of Transportation to pay obligations of the National Railroad Passenger Corporation for repayment taxes due under section 3321 of the Internal Revenue Code of 1986. To enable the Secretary of Transportation to pay obligations and liabilities of the National Railroad Passenger Corporation, $150,000,000: Provided, That of this amount $133,000,000 is available only for the payment of excise tax liabilities under section 3221 of the Internal Revenue Code of 1986 due in fiscal year 1991 in excess of amounts needed to fund benefits for individuals who retired from the National Railroad Passenger Corporation and to beneficiaries of its employees: Provided further. That the remaining amount of $17,000,000 is available only for the pa5ntnent of obligations of the National Railroad Passenger Corporation under section 358(a) of title 45 of the United States Code due in fiscal year 1991 in excess of its obligations calculated on an experience-rated basis. RAILROAD REHABILITATION AND IMPROVEMENT FINANCING FUNDS The Secretary of Transportation is authorized to issue to the Secretary of the Treasury notes or other obligations pursuant to section 512 of the Railroad Revitalization and Regulatory Reform Act of 1976 (Public Law 94-210), as amended, in such amounts and at such times as may be necessary to pay any amounts required pursuant to the guarantee of the principal amount of obligations under sections 511 through 513 of such Act, such authority to exist as long as any such guaranteed obligation is outstanding: Provided, That no new loan guarantee commitments shall be made during fiscal year 1991: Provided further. That, notwithstanding any other Securities. provision of law, the Secretary of Transportation shall sell securities or promissory notes with a principal value of at least $32,000,000 that are held by the Department of Transportation under authority of sections 502, 505-507, 509, and 511-513 of the Railroad Revitalization and Regulatory Rieform Act of 1976 (Public Law 94-210), as amended, by no later than September 30, 1991: Provided further. That such securities or promissory notes authorized to be sold in the immediately preceding proviso shall be sold only for amounts greater than or equal to the net present value to the Government of each loan as determined by the Secretary of Transportation in consultation with the Secretary of the Treasury: Provided further. That the Secretary of Transportation shall transmit a written certification to the Committees on Appropriations of the Senate and

House of Representatives before the consummation of each sale certifying that the amount to be realized is equal to or greater than the net present value to the Government of each loan: Provided further. That, notwithstanding any other provision of law, for fiscal year 1989 and each fiscal year thereafter all amounts realized from the sale of notes or securities sold under authority of this section shall be considered as current year domestic discretionary outlay offsets and not as "asset sales" or "loan prepayments" as defined by section 257(12) of the Balanced Budget and Emergency Deficit Con-