Requires the Chicago, Milwaukee, Saint Paul and Pacific Railroad Company to continue specified freight service for a period of 60 days unless any discontinuance or abandonment is authorized by the Interstate Commerce Commission and no affected State (or local or regional or transportation authority) opposes such action.
Directs the Secretary of Transportation to provide financial assistance to maintain the existing level of service by such railroad. Stipulates that other revenues available to the railroad be used to the fullest extent possible.
Directs the Secretary, pursuant to the Emergency Rail Services Act of 1970, to immediately guarantee trustee certificates issued by the Milwaukee Railroad. Exempts such guarantee from certain requirements and provisions of such Act. Stipulates that such certificates have no priority in bankruptcy.
Requires the railroad to submit to the Secretary a record of expenses and revenues.
Directs the Secretary to certify to the Secretary of the Treasury the amount to be paid on the railroad.
Introduced in Senate
Referred to Senate Committee on Commerce, Science, and Transportation.
Reported to Senate from the Committee on Commerce, Science, and Transportation with amendment (without written report).
Reported to Senate from the Committee on Commerce, Science, and Transportation with amendment (without written report).
Measure called up by unanimous consent in Senate.
Measure considered in Senate.
Passed/agreed to in Senate: Measure passed Senate, amended.
Measure passed Senate, amended.
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