[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 517 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 517

       To provide for the correct implementation of the Railroad 
           Rehabilitation and Improvement Financing Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 6, 2001

  Mr. Rahall introduced the following bill; which was referred to the 
             Committee on Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
       To provide for the correct implementation of the Railroad 
           Rehabilitation and Improvement Financing Program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Railroad Rehabilitation and 
Improvement Financing Program Correction Act of 2001''.

SEC. 2. CORRECTED IMPLEMENTATION.

    Notwithstanding any other provision of law, rule, regulation or 
administrative policy, any direct loan and loan guarantees made 
available under section 502 of the Railroad Revitalization and 
Regulatory Reform Act of 1976 shall not be subjected to conditions 
requiring applicants for such direct loan and loan guarantees to have 
previously been denied financing from any commercial lender or of any 
condition requiring pledges of collateral with a recovery value 
covering 100 percent of the anticipated principal and accrued interest 
amount of such direct loan and loan guarantees.
                                 <all>