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H.R. 23To Restructure the Railroads of America

_____________________

IN THE HOUSE OF REPRESENTATIVES

DECEMBER, 1, 2012

Mr. MAIN introduced the following bill; which was referred to

the Committee on Science, Space and Technology for a period

to be subsequently determined by the Speaker, for

consideration of such provisions as fall within the jurisdiction of

the committee concerned.

_____________________

A BILLTo Restructure the Railroads of America

Be it enacted by the Senate and House of1

Representatives of the United States of America in2

Congress assembled,3

SECTION 1. SHORT TITLE.4

This Act may be cited as the "Railroad5

Restructuring Act".6

SEC. 2. SCOPE OF THIS ACT7

This Act will be repealing 49 USC Chapter 243, which8

establishes and details the operations of Amtrak.9

SEC. 3. DEFINITIONS.10

National Railroad Passenger Corporation (NRPC) 11

Amtrak, the passenger rail corporation managed as a for-12

profit by the Federal Government of the United States.13

1STCONGRESS1STSESSION

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Rolling Stock All physical equipment, including14

locomotives, engines, passenger cars, necessary to the15

operations and management of a railroad.16

SEC. 4. IMPLEMENTATION.17

S.SEC. 1 All shares in the National Railroad Passenger18

Corporation must be repurchased by the Federal Government.19

S.SEC. 2 All rails and rolling stock owned by the NRPC20

must be sold to private rail operators, with rolling stock sold to21

the purchasers of the lines on which it is used.22

S.SEC 3 All subsidies from the Federal Government to23

rail transportation, either under the auspice of the NRPC or24

another operator, shall cease.25

S.SEC 4 Following this, shares in the corporation will be26

divided among the various lines and subsequently sold to27

private investors. All responsibilities for management of the28

lines, financial and otherwise, will be transferred with29

ownership of the shares.30

SEC. 5. REGUL ATION.31

The Department of Transportation shall be charged with32

ensuring that all provisions and plans set forth in this act are33

implemented by the effective date. The House Transportation34

Committee shall have oversight for all provisions in this act,35

and will ensure that the Department of Transportation executes36

this act in good faith.37

SEC. 6. EFFECTIVE DATE.38

The provisions in subsection 1 must be completed within39

6 months of the passage of this bill; in subsections 2 and 3,40

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within one year of completion of the provisions in subsection 1;41

in subsection 4, within one year of completion of the provisions42

in subsections 2 and 3.43

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