Authorizes the Secretary of Transportation to guarantee loans of $100,000,000 to railroad systems in the Midwestern United States upon obtaining satisfactory assurances that (1) the loans will be repaid within 15 years; (2) that no more than $9,100,000 of any loan will be used to meet operating expenses; and (3) that the remainder of guaranteed funds will be applied to the maintenance of property. Authorizes appropriations to carry out this Act.
Referred to House Committee on Interstate and Foreign Commerce.
Introduced in Senate
Referred to Senate Committee on Commerce.
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