Ill STAT. 2590 PUBLIC LAW 105-134—DEC. 2, 1997 49 USC 24304 iK)te. 49 USC 24304 note. Effective date. Effective date. Lobbying Disclosure Act of 1995 (2 U.S.C. 1602), Amtrak shall notify the United States Senate Committee on Commerce, Science, and Transportation, and the United States House of Representatives Committee on Transportation and Infrastructure of— (1) the name of the individual or firm involved; (2) the purpose of the contract or arrangement; and (3) the amount and nature of Amtrak's financial obligation under the contract. This section applies only to contracts, renewals or extensions of contracts, or arrangements entered into after the date of the enactment of this Act. SEC. 415. FINANCIAL POWERS. (a) CAPITALIZATION. — (1) Section 24304 is amended to read as follows:
- § 24304. Employee stock ownership plans
"In issuing stock pursuant to applicable corporate law, Amtrak is encouraged to include employee stock ownership plans.". (2) The item relating to section 24304 in the table of sections of chapter 243 is amended to read as follows: "24304. Employee stock ownership plans.". (b) REDEMPTION OF COMMON STOCK. — Amtrak shall, before October 1, 2002, redeem all common stock previously issued, for the fair market value of such stock. (c) ELIMINATION OF LIQUIDATION PREFERENCE AND VOTING RIGHTS OF PREFERRED STOCK.— (1)(A) Preferred stock of Amtrak held by the Secretary of Transportation shall confer no liquidation preference. (B) Subparagraph (A) shall take effect 90 days after the date of the enactment of this Act. (2)(A) Preferred stock of Amtrak held by the Secretary of Transportation shall confer no voting rights. (B) Subparagraph (A) shall take effect 60 days after the date of the enactment of this Act. (d) STATUS AND APPLICABLE LAWS.— (1) Section 24301(a)(3) is amended by inserting ", and shall not be subject to title 31" after "United States Government". (2) Section 9101(2) of title 31, United States Code, relating to Government corporations, is amended by striking subparagraph
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