S.1216 - North Eastern Rail Service Preservation Act93rd Congress (1973-1974)
|Sponsor:||Sen. Saxbe, William B. [R-OH] (Introduced 03/14/1973)|
|Committees:||Senate - Commerce|
|Latest Action:||03/14/1973 Referred to Senate Committee on Commerce. (All Actions)|
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Summary: S.1216 — 93rd Congress (1973-1974)All Information (Except Text)
Introduced in Senate (03/14/1973)
North Eastern Rail Service Preservation Act - Directs the Secretary of Transportation to compile an inventory of the rail transportation facilities of specified railway companies. Authorizes the Secretary to acquire by condemnation all assets of such railroads no later than three months after such inventory.
Provides for the transfer of the rail lines owned or operated by railroad companies undergoing reorganization in bankruptcy proceedings, and a majority of whose rail lines are located in the northeast region.
Authorizes necessary appropriations to carry out the provisions of this Act.