US Code

Public Law 119-73 (01/23/2026)

45 U.S.C. § 727

Additional purchases of Series A preferred stock

(a)

Federal investment

section 726 of this titleIn addition to the authority provided under , the Association shall purchase shares of Series A preferred stock and accounts receivable of the Corporation after , in amounts not to exceed a total of $137,000,000.

(b)

Accounts receivable

(1)
section 726 of this title1
1 See References in Text note below.
In any further purchase under this section or the Association shall purchase accounts receivable of the Corporation attributable to the dispute over the right-of-way related costs described in section 1111  of this title until the Commission resolves such dispute under such section, and accounts receivable of the Corporation attributable to delays in reimbursement from commuter authorities.
(2)
section 726 of this title From funds provided under this section or , the Association shall purchase Series A preferred stock of the Corporation, to the extent of losses on commuter service, in an amount not to exceed $15,000,000.
(c)

States and localities

The Corporation shall be exempt from liability for any State tax, except for any tax imposed by any political subdivision of a State applicable to any taxable period commencing before .

(d)

Debentures

The Association shall return debentures to the Corporation in an amount equal to the value of the properties conveyed by the Corporation to Amtrak Commuter and any commuter authority.

(e)

Rights retained

The Corporation shall retain the right to collect any accounts receivable attributable to delays in reimbursement from commuter authorities that are purchased by the Association under this section. No agency or instrumentality of the United States shall be required to collect such accounts.

(f)

Authorization of appropriations

(1)
There is authorized to be appropriated not to exceed $262,000,000—
(A)
1 of which not to exceed $137,000,000 shall be appropriated to the Association for purposes of purchasing securities and accounts receivable of the Corporation under this section, such sums to remain available until the Secretary transfers the Corporation under subchapter IV  of this chapter;
(B)
of which not to exceed $75,000,000 shall be appropriated to the Secretary, to facilitate the transfer of rail commuter services from the Corporation to other operators, for distribution under the statutory provisions of section 1139(b) of the Northeast Rail Service Act of 1981;
(C)
section 1005 of this title of which not to exceed $35,000,000 shall be appropriated to the Secretary to be allocated for employee protection under ; and
(D)
of which not to exceed $15,000,000 shall be appropriated to the Secretary to facilitate the transfer of rail commuter services from railroads that entered reorganization after calendar year 1974 to any commuter authority that was providing commuter service, operated by a railroad that entered reorganization after calendar year 1974, as of .
(2)
All sums received on account of the holding or disposition of any securities or accounts receivable referred to in paragraph (1)(A) of this subsection shall be deposited in the general fund of the Treasury.
(3)
section 726(g)(2) of this title The amount authorized to be appropriated under paragraph (1)(B) of this subsection shall be reduced, in an amount equal to any amounts reappropriated under the authority of , upon the date of enactment of any Act which reappropriates such amounts.

Pub. L. 93–236, title II, § 217Pub. L. 97–35, title XI, § 1140(a)95 Stat. 653Pub. L. 97–468, title V, § 504(c)96 Stat. 2552Pub. L. 99–509, title IV, § 4033(b)(2)100 Stat. 1908(, as added , , ; amended , , ; , (3), , .)

Editorial Notes

References in Text

Section 1111 of this titlePub. L. 105–134, title IV, § 408111 Stat. 2586, referred to in subsec. (b)(1), was repealed by , , .

Pub. L. 99–509, title IV, § 4033(a)(1)100 Stat. 1908Subchapter IV of this chapter, referred to in subsec. (f)(1)(A), was repealed by , , .

section 1139(b) of Pub. L. 97–3595 Stat. 652section 744a of this titleSection 1139(b) of the Northeast Rail Service Act of 1981, referred to in subsec. (f)(1)(B), is , title XI, , , which is set out as a note under .

Amendments

Pub. L. 99–509, § 4033(b)(2)1986—Subsec. (c). , substituted “applicable to any taxable period commencing before ” for “, until the property of the Corporation is transferred by the Secretary under subchapter IV of this chapter”.

Pub. L. 99–509, § 4033(b)(3)Subsec. (e). , struck out “and shall collect” after “right to collect”.

Pub. L. 97–468, § 504(c)(1)1983—Subsec. (a). , substituted “$137,000,000” for “$262,000,000”.

Pub. L. 97–468, § 504(c)(2)Subsec. (f). , designated existing provisions as pars. (1)(A) and (2), in (1)(A) as so designated, substituted $137,000,000 for $262,000,000 as limit of appropriations for purchase of securities and accounts receivable, and added pars. (1)(B) to (D) and (3).

Statutory Notes and Related Subsidiaries

Effective Date

section 1169 of Pub. L. 97–35section 1101 of this titleSection effective , see , set out as a note under .

Abolition of Interstate Commerce Commission and Transfer of Functions

Pub. L. 104–88section 1302 of Title 49section 101 of Pub. L. 104–88section 1301 of Title 49section 205 of Pub. L. 104–88section 1301 of Title 49Interstate Commerce Commission abolished and functions of Commission transferred, except as otherwise provided in , to Surface Transportation Board effective , by , Transportation, and , set out as a note under . References to Interstate Commerce Commission deemed to refer to Surface Transportation Board, a member or employee of the Board, or Secretary of Transportation, as appropriate, see , set out as a note under .

Abolition of United States Railway Association and Transfer of Functions and Securities

section 1341 of this titleSee .