PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 897 §22105. Sharing project costs (a) GENERAL,—(1) The United States Government's share of the costs of financial assistance for a project under this chapter is 50 percent, except that for assistance provided under section 22101(a)(2) of this title, the Government's share is 70 percent. The State may pay its share of the costs in cash or through the following benefits, to the extent that the benefits otherwise would not be provided: (A) forgiveness of taxes imposed on a rail carrier or its property. (B) real and tangible personal property (provided by the State or a person for the State) necessary for the safe and efficient operation of rail freight transportation. (C) track rights secured by the State for a rail carrier. (D) the cash equivalent of State salaries for State employees working on the State project, except overhead and general administrative costs. (2) A State may pay more than its required percentage share of the costs of a project under this chapter. When a State, or a person acting for a State, pays more than the State share of the costs of its projects during a fiscal year, the excess amount shall be applied to the State share for the costs of the State projects for later fiscal years. (b) AGREEMENTS TO COMBINE AMOUNTS. — States may agree to combine any part of the amounts made available under this chapter to carry out a project that is eligible for assistance under this chapter when— (1) the project will benefit each State making the agreement; and (2) the agreement is not a violation of State law. § 22106. Limitations on Hnancial assistance (a) GRANTS AND LOA^S.— ^A State shall use financial assistance for projects under this chapter to make a grant or lend money to the owner of rail property, or a rail carrier providing rail transportation, related to a project being assisted. The State shall decide on the financial terms of the grant or loan, except that the time for making grant advances shall coijiply with regulations of the Secretary of the Treasury. (b) HOLDING AND USE OF GOVERNMENT'S SHARE.— The State shall place the United States Government's share of money that is repaid in an interest-bearing account. However, the Secretary of Transportation may allow a borrower to place that money, for the benefit of the State, in a bank designated by the Secretary of the Treasury under section 10 of the Act of June 11, 1942 (12 U.S.C. 265). The State shall use the money and accumulated interest to make other grants and loans under this chapter. (c) PAYMENT OF UNUSED MONEY AND ACCUMULATED INTEREST.— The State may pay the Secretary of Transportation the Government's share of unused money and accumulated interest at any time. However, the State must pay the unused money and accumulated interest to the Secretary when the State ends its participation under this chapter. (d) ENCOURAGING PARTICIPATION.— To the maximum extent possible, the State shall encourage the participation of shippers, rail carriers, and local communities in paying the State share of assistance costs.
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