49 U.S.C. § 22904 — Use of capital grants to finance first-dollar liability of grant project
submitted 18 years ago by Pub. L. 110-432 to r/title-49-TRANSPORTATION · 62 words · no verdicts yet
The Secretary of Transportation may use a capital grant to cover the first layer of self-insured liability risk for related rail passenger service. The coverage is limited to $20 million for each event and $20 million total per year.
Despite the requirements of section 22902 of this chapter, the Secretary of Transportation may approve the use of a capital assistance grant under this chapter to fund self-insured retention of risk for the first tier of liability insurance coverage for rail passenger service associated with the grant, but the coverage cannot exceed $20,000,000 per occurrence or $20,000,000 in aggregate per year.
Notwithstanding the requirements of section 22902 of this chapter, the Secretary of Transportation may approve the use of a capital assistance grant under this chapter to fund self-insured retention of risk for the first tier of liability insurance coverage for rail passenger service associated with the grant, but the coverage may not exceed $20,000,000 per occurrence or $20,000,000 in aggregate per year.
Source credit: (Added Pub. L. 110–432, div. B, title III, § 301(a), Oct. 16, 2008, 122 Stat. 4942, § 24404; renumbered § 22904 and amended Pub. L. 115–420, § 7(a)(1), (b)(2)(B), Jan. 3, 2019, 132 Stat. 5445, 5446.)
- 2008Enacted · Pub. L. 110-432 · 122 Stat. 4942
- 2019Amended · Pub. L. 115-420 · 132 Stat. 5445, 5446
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-432 on 2008-10-16.
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