Amendments
1996—Subsec. (d). Pub. L. 104–317 substituted “Appeal” for “Review” in heading and amended text generally. Prior to amendment, text read as follows: “A finding or determination entered by the special court pursuant to subsection (c) of this section or section 746 of this title shall be reviewable only upon petition for a writ of certiorari to the Supreme Court of the United States. Such review is exclusive and any such petition shall be filed in the Supreme Court not more than 20 days after entry of such finding or determination.”
1994—Subsec. (e). Pub. L. 103–272 struck out “title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 or of” before “section 791(d)”.
1988—Subsec. (d). Pub. L. 100–352 substituted “Review” for “Appeal” in heading and amended text generally. Prior to amendment, text read as follows: “A finding or determination entered by the special court pursuant to subsection (c) of this section or section 746 of this title may be appealed directly to the Supreme Court of the United States in the same manner that an injunction order may be appealed under section 1253 of title 28: Provided, That such appeal is exclusive and shall be filed in the Supreme Court not more than 20 days after such finding or determination is entered by the special court. The Supreme Court shall dismiss any such appeal within 7 days after the entry of such an appeal if it determines that such an appeal would not be in the interest of an expeditious conclusion of the proceedings and shall grant the highest priority to the determination of any such appeals which it determines not to dismiss.”
1981—Subsec. (c). Pub. L. 97–35 struck out all references to securities wherever appearing in text, and reference to share of series B preferred stock.
1979—Subsec. (b)(6)(B). Pub. L. 96–73 inserted provisions which limited coverage to amount that does not exceed in death benefits amount equal to twice the employee’s annual salary at time of retirement or $60,000, whichever is lower, provided for maintenance of regional coverage, and in cases of lapsed coverage due to nonpayment of premiums prescribed the same limitation for claims arising during the lapsed period or thereafter.
1978—Subsec. (b)(6). Pub. L. 95–597 redesignated existing provisions as subpar. (A), redesignated clauses (A) and (B) as (i) and (ii), respectively, and added subpar. (B).
1977—Subsec. (d). Pub. L. 95–199 substituted “entered by the special court pursuant to subsection (c) of this section or section 746 of this title” for “entered pursuant to subsection (c) of this section”.
1976—Subsec. (a)(1). Pub. L. 94–210, § 612(c)(1), (i), inserted “or any subsidiary thereof” before “, shall deposit”, and substituted “certificates of value issued by” for “obligations of”.
Subsec. (a)(2). Pub. L. 94–210, § 612(d)(1), inserted reference to each State or responsible person (including a governmental entity).
Subsec. (b)(1). Pub. L. 94–210, § 612(c)(2), (d)(2), (i), (o), (p), inserted “or any subsidiary thereof” after “to the Corporation”, “States, and responsible persons” before “order the trustee”, and provisions relating to orders of the trustee or trustees to execute and deliver deeds or other instruments conveying rail properties, and substituted “person leased” for “railroad leased”, “, the respective profitable railroads operating in the region, States, and responsible persons” for “and the respective profitable railroads operating in the region”, and “certificates of value issued by” for “obligations of”.
Subsec. (b)(2). Pub. L. 94–210, § 612(c)(2), (d)(3), inserted “or any subsidiary thereof” after “Corporation” and reference to States and responsible persons.
Subsec. (b)(3). Pub. L. 94–210, § 612(a), redesignated existing provisions as subpar. (A)(ii), made changes in phraseology, inserted definition of “railroad rolling stock” and struck out provisions relating to affect of chapter on title and interests of any lessor, etc., and added subpar. (A)(i) and (B).
Subsec. (b)(4). Pub. L. 94–210, § 612(d)(4), (k), inserted “all future liability under such lease and” after “is made assumes”, and substituted “, profitable railroad, State, or responsible person” for “or the profitable railroad”.
Subsec. (b)(5), (6). Pub. L. 94–210, § 612(l), added pars. (5) and (6).
Subsec. (b)(6). Pub. L. 94–555, § 204, inserted provisions entitling the Corporation to a loan to fund accrued, non-guaranteed pension benefits under all plans transferred or assigned to the Corporation, whether terminated or not, and such loan is to be charged to the estate of railroad in reorganization as an administrative expense.
Subsec. (c)(1). Pub. L. 94–210, § 612(c)(3), (d)(5), (6), (i), (q)(1), (2), in introductory text inserted “or any subsidiary thereof” after “Corporation” and inserted reference to States and responsible persons, in subpar. (A)(i) inserted “or any subsidiary thereof” after “Corporation” and “, certificates of value” after “securities”, and inserted provision relating to consideration of compensable unconstitutional erosion, in subpar. (A)(ii) inserted reference to State or responsible person, and provision relating to compensation and other benefits accruing to such transferor as a result of the exchange, and in subpar. (C) inserted “or any subsidiary thereof” after “Corporation”.
Subsec. (c)(2). Pub. L. 94–210, § 612(c)(4), (e), (i), (q)(3), in introductory text inserted reference to certificates of value and provision relating to consideration of compensable unconstitutional erosion, and substituted “may” for “shall”, in subpar. (A) inserted reference to any subsidiary of a Corporation, exception relating to allocation to each such railroad of preferred stock, etc., “, certificates of value” after “securities” and “and certificates of value” after “of the Corporation”, in subpar. (B) inserted “and certificates of value” after “Corporation’s securities” and “, certificates of value” after “other securities”, and substituted “certificates of value issued by the Association” for “obligations of the Association”, and in subpar. (C) generally revised criteria for entering a judgment against the Corporation.
Subsec. (c)(2)(A). Pub. L. 94–555, § 220(b)(1), (2), substituted “securities and certificates of value” for “securities and certificates of value of the Corporation and certificates of value” after “reallocating the” and “they have” for “it has” after “equitable manner”.
Subsec. (c)(2)(B). Pub. L. 94–555, § 220(b)(3), (4), substituted “securities and certificates of value” for “Corporation’s securities, certificates of value” after “reallocation of”, and substituted “other securities” for “other securities and certificates of value” after “the railroad of”.
Subsec. (c)(3). Pub. L. 94–555, § 220(b)(5), substituted “subsection (a)(2) of this section” for “section 303(a)(2)”, in the original, necessitating no change in text.
Pub. L. 94–210, § 612(d)(7), (i), (n), (q)(4), inserted references to States or responsible persons wherever appearing, provisions relating to unreimbursed payments made by the profitable railroad on behalf of the transferor railroad in reorganization, provisions relating to consideration by the special court of compensable unconstitutional erosion, and “certificates of value” after “securities”, and substituted “certificates of value” for “obligations”.
Subsec. (c)(4). Pub. L. 94–210, § 612(d)(8), (h), (i), inserted “, States, and responsible persons” after “profitable railroads” and “and to persons leased, operated, or controlled by such railroads who so transferred or conveyed rail properties” after “region”, and substituted “(a)” for “(b)” and “certificates of value” for “obligations”.
Subsec. (c)(5). Pub. L. 94–436, § 3, restructured first sentence limiting indemnification of United States to judgments against Corporation or any subsidiary entered pursuant to par. (2) and to judgments against the National Railroad Passenger Corporation, profitable railroads, a State, or any responsible person entered pursuant to par. (3).
Pub. L. 94–210, § 612(f), added par. (5).
Subsec. (c)(6). Pub. L. 94–555, § 202(b), added par. (6).
Subsec. (d). Pub. L. 94–210, § 612(g), substituted “20” for “5”.
Subsec. (e). Pub. L. 94–436, § 5, inserted, after “section 745 of this title” in second parenthetical expression, “or which are made at any time to carry out the purposes of title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 or section 791 of this title”.
Pub. L. 94–210, § 601(d), added subsec. (e).
1975—Subsec. (c)(1)(C). Pub. L. 94–5 added subpar. (C).