§24317 — Title 49 Transportation | U.S. Code

Summary

Require the Transportation Secretary, working with Amtrak, to create and update a simple accounting system and rules so money for the Northeast Corridor and the National Network is used wisely and tracked clearly. The Secretary must tell key congressional committees if the system changes in important ways, such as changes to the service groups or types of assets covered. Make Amtrak put all money tied to each part into the matching account. For the Northeast Corridor account, that includes corridor-specific grants, payments from commuter rail partners, and any operating surplus. For the National Network account, that includes network grants, state payments, and any operating surplus. Money in each account must pay the related operating costs, capital projects, equipment work, and loan or lease payments for that part. Amtrak must produce "sources and uses" statements for each service and asset group, send them to the Secretary 30 days after the system starts and then every month (or at a different agreed schedule). Amtrak may move funds between the two accounts without prior approval if the move won’t hurt its yearly financial goals or change grant deals. If a move might not meet that test, Amtrak must tell the Board (including the Secretary) at least 10 days before and get the Secretary’s OK if it will change a grant. The Board must report the amount and effects to Congress within 5 days, and Amtrak must also notify the State-Supported Route Committee and the Northeast Corridor Commission within 5 days. The Northeast Corridor means the main line from Boston, Massachusetts, to the District of Columbia and the facilities and services used to run and maintain it.

Title 49, §24317

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(a)The purpose of this section is to—

(1)promote the effective use and stewardship by Amtrak of Amtrak revenues, Federal, State, and third party investments, appropriations, grants and other forms of financial assistance, and other sources of funds; and

(2)enhance the transparency of the assignment of revenues, including Federal grant funds, and costs among Amtrak service lines while ensuring the health of the Northeast Corridor and National Network.

(b)(1)The Secretary of Transportation, in consultation with Amtrak, shall define, maintain, and periodically update an account structure and improvements to accounting methodologies, as necessary, to support the Northeast Corridor and the National Network.

(2)The Secretary shall notify the Committee on Commerce, Science, and Transportation of the Senate, the Committee on Appropriations of the Senate, the Committee on Transportation and Infrastructure of the House of Representatives, and the Committee on Appropriations of the House of Representatives regarding any substantive changes made to the account structure, including changes to—

(A)the service lines described in section 24320(b)(1); and

(B)the asset lines described in section 24320(c)(1).

(c)In defining, maintaining, and updating the account structure and improvements to accounting methodologies required under subsection (b), the Secretary shall ensure, to the greatest extent practicable, that Amtrak assigns the following:

(1)For the Northeast Corridor account, all revenues, appropriations, grants and other forms of financial assistance, compensation, and other sources of funds associated with the Northeast Corridor, including—

(A)grant funds appropriated for the Northeast Corridor pursuant to section 11101(a) of the Passenger Rail Reform and Investment Act of 2015 or any subsequent Act;

(B)compensation received from commuter rail passenger transportation providers for such providers’ share of capital and operating costs on the Northeast Corridor provided to Amtrak pursuant to section 24905(c); and

(C)any operating surplus of the Northeast Corridor, as allocated pursuant to section 24318.

(2)For the National Network account, all revenues, appropriations, grants and other forms of financial assistance, compensation, and other sources of funds associated with the National Network, including—

(A)grant funds appropriated for the National Network pursuant to section 11101(b) of the Passenger Rail Reform and Investment Act of 2015 or any subsequent Act;

(B)compensation received from States provided to Amtrak pursuant to section 209 of the Passenger Rail Investment and Improvement Act of 2008 (42 U.S.C. 24101 note); 11 See References in Text note below. and

(C)any operating surplus of the National Network, as allocated pursuant to section 24318.

(d)In defining, maintaining, and updating the account structure and improvements to accounting methodologies required under subsection (b), the Secretary shall ensure, to the greatest extent practicable, that amounts assigned to the Northeast Corridor and National Network accounts shall be used by Amtrak for the following:

(1)For the Northeast Corridor, all associated costs, including—

(A)operating activities;

(B)capital activities as described in section 24904(a)(2)(E);

(C)acquiring, rehabilitating, manufacturing, remanufacturing, overhauling, or improving equipment and associated facilities used for intercity rail passenger transportation by Northeast Corridor train services;

(D)payment of principal and interest on loans for capital projects described in this paragraph or for capital leases attributable to the Northeast Corridor;

(E)other capital projects on the Northeast Corridor, determined appropriate by the Secretary, and consistent with section 24905(c)(1)(A)(i); and

(F)if applicable, capital projects described in section 24904(b).

(2)For the National Network, all associated costs, including—

(A)operating activities;

(B)capital activities; and

(C)the payment of principal and interest on loans or capital leases attributable to the National Network.

(e)(1)Amtrak, in consultation with the Secretary of Transportation, shall maintain and implement any account structures and improvements defined under subsection (b) to enable Amtrak to produce sources and uses statements for each of the service lines described in section 24320(b)(1) and, as appropriate, each of the asset lines described in section 24320(c)(1), that identify sources and uses of revenues, appropriations, and transfers between accounts.

(2)Not later than 30 days after the implementation of subsection (b), and monthly thereafter, Amtrak shall submit to the Secretary of Transportation updated sources and uses statements for each of the service lines and asset lines referred to in paragraph (1). The Secretary and Amtrak may agree to a different frequency of reporting.

(f)For the purposes of account management, Amtrak may transfer funds between the Northeast Corridor account and National Network account without prior notification and approval under subsection (g) if such transfers—

(1)do not materially impact Amtrak’s ability to achieve its anticipated financial, capital, and operating performance goals for the fiscal year; and

(2)would not materially change any grant agreement entered into pursuant to section 24319(d), or other agreements made pursuant to applicable Federal law.

(g)(1)If Amtrak determines that a transfer between the accounts defined under subsection (b) does not meet the account management standards established under subsection (f), Amtrak may transfer funds between the Northeast Corridor and National Network accounts if—

(A)Amtrak notifies the Amtrak Board of Directors, including the Secretary, at least 10 days prior to the expected date of transfer; and

(B)solely for a transfer that will materially change a grant agreement, the Secretary approves.

(2)Not later than 5 days after the Amtrak Board of Directors receives notification from Amtrak under paragraph (1)(A), the Board shall transmit to the Secretary, the Committee on Transportation and Infrastructure and the Committee on Appropriations of the House of Representatives, and the Committee on Commerce, Science, and Transportation and the Committee on Appropriations of the Senate, a report that includes—

(A)the amount of the transfer; and

(B)a detailed explanation of the reason for the transfer, including—

(i)the effects on Amtrak services funded by the account from which the transfer is drawn, in comparison to a scenario in which no transfer was made; and

(ii)the effects on Amtrak services funded by the account receiving the transfer, in comparison to a scenario in which no transfer was made.

(3)Not later than 5 days after the date that Amtrak notifies the Amtrak Board of Directors of a transfer under paragraph (1) to or from an account, Amtrak shall transmit to the State-Supported Route Committee and Northeast Corridor Commission a letter that includes the information described under subparagraphs (A) and (B) of paragraph (2).

(h)Notwithstanding section 24102, for purposes of this section, the term “Northeast Corridor” means the Northeast Corridor main line between Boston, Massachusetts, and the District of Columbia, and facilities and services used to operate and maintain that line.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 11101 of the Passenger Rail Reform and Investment Act of 2015, referred to in subsec. (c)(1)(A), (2)(A), is section 11101 of title XI of div. A of Pub. L. 114–94, Dec. 4, 2015, 129 Stat. 1622, which is not classified to the Code. section 209 of the Passenger Rail Investment and Improvement Act of 2008 (42 U.S.C. 24101 note), referred to in subsec. (c)(2)(B), probably means section 209 of div. B of Pub. L. 110–432, which is set out as a note under section 24101 of this title.

Amendments

2021—Subsec. (a)(2). Pub. L. 117–58, § 22205(1), substituted “, including Federal grant funds, and costs among Amtrak service lines” for “and costs among Amtrak business lines”. Subsec. (b). Pub. L. 117–58, § 22205(2), amended subsec. (b) generally. Prior to amendment, text read as follows: “Not later than 180 days after the date of enactment of the Passenger Rail Reform and Investment Act of 2015, the Secretary of Transportation, in consultation with Amtrak, shall define an account structure and improvements to accounting methodologies, as necessary, to support, at a minimum, the Northeast Corridor and the National Network.” Subsec. (c). Pub. L. 117–58, § 22205(3), inserted “, maintaining, and updating” after “defining” in introductory provisions. Subsec. (d). Pub. L. 117–58, § 22205(4), inserted “, maintaining, and updating” after “defining” in introductory provisions. Subsec. (e). Pub. L. 117–58, § 22205(5), amended subsec. (e) generally. Prior to amendment, subsec. (e) related to implementation of account structures and improvements and reporting of updated profit and loss statements for each of business lines and asset categories to Secretary. Subsecs. (h), (i). Pub. L. 117–58, § 22205(6), (7), redesignated subsec. (i) as (h) and struck out former subsec. (h). Prior to amendment, text of subsec. (h) read as follows: “Not later than 2 years after the date of enactment of the Passenger Rail Reform and Investment Act of 2015, Amtrak shall submit to the Secretary a report assessing the account and reporting structure established under this section and providing any recommendations for further action. Not later than 180 days after the date of receipt of such report, the Secretary shall provide an assessment that supplements Amtrak’s report and submit the Amtrak report with the supplemental assessment to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives.”

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Oct. 1, 2015, see section 1003 of Pub. L. 114–94, set out as an

Effective Date

of 2015 Amendment note under section 5313 of Title 5, Government Organization and Employees.

§24317 Accounts

Summary

Title 49, §24317

Notes & Related Subsidiaries

Editorial Notes

References in Text

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata