PUBLIC LAW 97-35—AUG. 13, 1981
95 STAT. 701
striking out"; or" at the end of subparagraph (B) and inserting in lieu thereof a period, and by striking out subparagraph (C); (3) in paragraph (2), as redesignated, by striking out "paragraphs (3) and (5)" and inserting in lieu thereof "paragraphs (2) and (4)"; (4) in paragraph (3), as redesignated, by striking out "paragraph (4)" and inserting in lieu thereof "paragraph (3)"; and (5) by striking out the period at the end of paragraph (2), as redesignated, and at the end of paragraph (3)(B), as redesignated, and inserting in lieu thereof the following: "unless such a project has been receiving assistance under this subsection but did not receive all the funds to which the State was entitled at the beginning of the fiscal year ending September 30, 1981, in which case such project shall continue to be eligible until September 30, 1982.". (f) Section 5(1) of the Department of Transportation Act (49 U.S.C. 1654(1)) is amended by adding at the end thereof the following new sentence: "Upon receipt of an application for rail freight assistance, the Secretary shall consider the application and notify the State submitting such an application as to its approval or disapproval within 45 days. If the Secretary fails to consider and notify the State applying for rail freight assistance under subsection (k) within 45 days, then the project shall be considered approved and the State shall receive the Federal share up to the amount to which it is entitled.". (g) Section 5(n) of the Department of Transportation Act (49 U.S.C. 1654(n)) is amended to read as follows: "(n) As used in this section, the term 'State' means any State in which a rail carrier providing trsmsportation subject to the jurisdiction of the Interstate Commerce Commission under chapter 105 of title 49, United States Code, maintains any line of railroad.'. (h) Section 5(o) of the Department of Transportation Act (49 U.S.C. 1654(o)) is amended by striking out "paragraph (3)" each place it appears and inserting in lieu thereof "paragraph (2)", and by adding at the end thereof the following new paragraph: "(5) The State, to the maximum extent possible, shall encourage the participation of shippers, railroads, and local communities in providing the State share of rail freight assistemce funds.". (i) Section 5 of the Department of Transportation Act (49 U.S.C. 1654) is amended by redesignating subsection (p) as subsection (q) and by inserting after subsection (o) the following new subsection: "(p) Each State shall retain a contingent interest (redeemable preference shares) for the Federal share of funds in any line receiving rail freight assistance under this section and may exercise the right to collect its share of the funds used for such a line, if an application for abandonment of such line is filed under chapter 109 of title 49, United States Code, or if such line is sold or disposed of in any way 49 USC 10901 et after it has received Federcd assistance.".
- ^^CHAPTER 2—NORTHEAST CORRIDOR
NORTHEAST CORRIDOR
SEC. 1193. Section 704(a) of the Railroad Revitalization and Regulatory Reform Act of 1976 is amended— 45 USC 854. (1) by inserting before the first sentence thereof the following new sentence: "The Secretary shall complete the Northeast
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