A bill to amend the Milwaukee Railroad Reconstructing Act and the Rock Island Transition and Employee Assistance Act to facilitate the purchase of lines of bankrupt carriers to provide for continued rail and for other purposes.
Milwaukee Railroad and Rock Island Railroad Amendments Act - Amends the Milwaukee Railroad Restructuring Act to define a "financially responsible person" as one who is capable of paying the purchase price of a railroad line proposed to be acquired and is able to cover the cost of providing service over the line for at least four years.
Revises procedures by which the Interstate Commerce Commission (ICC) oversees the purchase of bankrupt rail lines by such financially responsible persons.
Amends the Rock Island Railroad Transition and Employee Assistance Act to grant authority to the ICC to authorize continued rail service under this Act over the lines of the Rock Island Railroad until the disposition of the properties of the estate of the Rock Island Railroad.
Extends ICC authority to order directed service over certain commuter lines of the Rock Island Railroad.
Amends the Interstate Commerce Act to eliminate limitations on the amount of railroad equipment used to transport paper products and certain forest products pursuant to contracts.
Ordered held at the desk pending further disposition.
Introduced in Senate
Read second time and referred to Senate Committee on Commerce.
Committee on Commerce. Hearings held.
Committee on Commerce. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Commerce. Reported to Senate by Senator Packwood favorably with an amendment in the nature of a substitute. With written report No. 97-299.
Committee on Commerce. Reported to Senate by Senator Packwood favorably with an amendment in the nature of a substitute. With written report No. 97-299.
Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 415.
Considered by Senate.
Passed/agreed to in Senate: Passed Senate with amendments by Voice Vote.
Passed Senate with amendments by Voice Vote.
Referred to House Committee on Energy and Commerce.
Referred to Subcommittee on Commerce, Transportation and Tourism.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
See Title II of H.R. 6308.