49 U.S.C. § 22106 — Limitations on financial assistance
submitted 32 years ago by Pub. L. 103-272 to r/title-49-TRANSPORTATION · 157 words · no verdicts yet
(a) Grants and Loans.— A State must use financial assistance for projects under this chapter to make a grant or lend money to the owner of rail property, or a rail carrier providing rail transportation, related to a project being assisted. (b) State Use of Repaid Funds and Contingent Interest Recoveries.— The State must place the United States Government’s share of money that is repaid and any contingent interest that is recovered in an interest-bearing account.
(a) Grants and Loans.— A State must use financial assistance for projects under this chapter to make a grant or lend money to the owner of rail property, or a rail carrier providing rail transportation, related to a project being assisted. (b) State Use of Repaid Funds and Contingent Interest Recoveries.— The State must place the United States Government’s share of money that is repaid and any contingent interest that is recovered in an interest-bearing account. The repaid money, contingent interest, and any interest thereon must be considered to be State funds. The State must use such funds to make other grants and loans, consistent with the purposes for which financial assistance may be used under subsection (a), as the State considers to be appropriate. (c) Encouraging Participation.— To the maximum extent possible, the State must encourage the participation of shippers, rail carriers, and local communities in paying the State share of assistance costs.
A State shall use financial assistance for projects under this chapter to make a grant or lend money to the owner of rail property, or a rail carrier providing rail transportation, related to a project being assisted.
The State shall place the United States Government’s share of money that is repaid and any contingent interest that is recovered in an interest-bearing account. The repaid money, contingent interest, and any interest thereon shall be considered to be State funds. The State shall use such funds to make other grants and loans, consistent with the purposes for which financial assistance may be used under subsection (a), as the State considers to be appropriate.
To the maximum extent possible, the State shall encourage the participation of shippers, rail carriers, and local communities in paying the State share of assistance costs.
Source credit: (Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 897; Pub. L. 104–287, § 5(55), Oct. 11, 1996, 110 Stat. 3393; Pub. L. 110–432, div. A, title VII, § 701(a), Oct. 16, 2008, 122 Stat. 4905; Pub. L. 114–94, div. A, title XI, § 11316(k), Dec. 4, 2015, 129 Stat. 1678.)
- 1994Enacted · Pub. L. 103-272 · 108 Stat. 897
- 1996Amended · Pub. L. 104-287 · 110 Stat. 3393
- 2008Amended · Pub. L. 110-432 · 122 Stat. 4905
- 2015Amended · Pub. L. 114-94 · 129 Stat. 1678
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-272 on 1994-07-05.
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