(a) Records.— Each recipient of financial assistance through an arrangement under this chapter shall keep records required by the Secretary of Transportation. The records shall be kept for 3 years after a project is completed and shall disclose—
(1)the amount of, and disposition by the recipient, of the assistance;
(2)the total costs of the project for which the assistance was given or used;
(3)the amount of that part of the costs of the project paid by other sources; and
(4)any other records that will make an effective audit easier.
(b) Audits.— The Secretary shall make regular financial and performance audits, as provided under chapter
75 of title
31, of activities and transactions assisted under this chapter.
(c) Information.— The Surface Transportation Board shall provide the Secretary with information the Secretary requests to assist in carrying out this chapter. The Board shall provide the information not later than 30 days after receiving a request from the Secretary.
(d) List of Rail Lines.— Not later than August 1 of each year, each rail carrier subject to part
A of subtitle
IV of this title shall submit to the Secretary a list of the rail lines of the carrier that carried not more than 5,000,000 gross ton-miles of freight a mile in the prior year.
In subsection (a), before clause (1), the words “an arrangement” are substituted for “whether in the form of grants, subgrants, contracts, subcontracts, or other arrangements”, and the word “project” is substituted for “project or undertaking”, to eliminate unnecessary words and for consistency in this chapter.
Subsection (b) is substituted for 49 App.:1654(k)(2) and (3) because of 31:ch. 75.
In subsection (d), the words “Not later than” are substituted for “On or before” for clarity. The word “submit” is substituted for “prepare, update, and submit” to eliminate unnecessary words. The words “based on level of usage” are omitted as surplus.
1996—Subsec. (b). Pub. L. 104–316struck out “and the Comptroller General” after “Secretary”.
1995—Subsec. (c). Pub. L. 104–88, § 308(f)(4), substituted “Surface Transportation Board” for “Interstate Commerce Commission” and “The Board” for “The Commission”.
Subsec. (d). Pub. L. 104–88, § 308(f)(5), substituted “part A of subtitle IV” for “subchapter I of chapter 105”.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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