§914 — Title 45 Railroads | U.S. Code

Summary

The Secretary must guarantee obligations of the Milwaukee Railroad to provide employee protections under the agreement in section 908. These guarantees are made under section 831 and do not have to follow subsection (g). Guaranteed obligations are treated as administrative expenses of the railroad’s estate. The unpaid principal that can be guaranteed is limited to $75,000,000, and the railroad’s total liability for those benefits also cannot exceed $75,000,000. Except for these guarantees, the United States has no liability, and section 22404 of title 49 does not apply.

Title 45, §914

Railroads — Source: USLM XML via OLRC

(a)The Secretary of Transportation, under the authority of section 831 of this title, shall guarantee obligations of the Milwaukee Railroad for purposes of providing employee protection in accordance with the terms of the employee protection agreement entered into under section 908 of this title. Guarantees under this section shall be entered into without regard to the requirements of subsection (g) of section 831 of this title.

(b)Any obligation guaranteed pursuant to this section shall be treated as an administrative expense of the estate of the Milwaukee Railroad.

(c)The aggregate unpaid principal amount of obligations which may be guaranteed by the Secretary pursuant to this section shall not exceed $75,000,000.

(d)The total liability of the Milwaukee Railroad in connection with benefits and allowances provided under an employee protection agreement entered into under section 908 of this title shall not exceed $75,000,000.

(e)Except in connection with obligations guaranteed under this section, the United States shall incur no liability to employees in connection with any employee protection agreement entered into under section 908 of this title.

(f)Section 22404 of title 49 shall not apply to any obligation guaranteed under this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 831 of this title, referred to in subsec. (a), was repealed by Pub. L. 105–178, title VII, § 7203(a)(2), June 9, 1998, 112 Stat. 477, except for subsec. (c) of that section, which was renumbered and transferred to section 823(b) of this title by section 7203(a)(4) of Pub. L. 105–178. section 823(b) of this title was subsequently repealed by Pub. L. 117–58, div. B, title I, § 21301(b)(1)(A), Nov. 15, 2021, 135 Stat. 683.

Amendments

2021—Subsec. (f). Pub. L. 117–58 substituted “Section 22404 of title 49” for “section 836 of this title”. 1980—Subsec. (e). Pub. L. 96–448 inserted “to employees” after “no liability”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1980 AmendmentAmendment by Pub. L. 96–448 effective Oct. 14, 1980, see section 710(d) of Pub. L. 96–448, set out as a note under section 1170 of Title 11, Bankruptcy.

§914 Obligation guarantees