Title 49 — TransportationRelease 119-73
§24908 Transfer taxes and levies and recording charges
Title 49 › Subtitle SUBTITLE V— - RAIL PROGRAMS › Part PART C— - PASSENGER TRANSPORTATION › Chapter CHAPTER 249— - NORTHEAST CORRIDOR IMPROVEMENT PROGRAM › § 24908
Summary
Rail transfers here are exempt from federal, State, and local transfer taxes. Paying the standard recording charge lets the buyer or seller record the transfer and remove pre-existing liens under the final system plan.
Full Legal Text
Title 49, §24908
Transportation — Source: USLM XML via OLRC
A transfer of an interest in rail property under this chapter is exempt from a tax or levy related to the transfer that is imposed by the United States Government, a State, or a political subdivision of a State. On payment of the appropriate and generally applicable charge for the service performed, a transferee or transferor may record an instrument and, consistent with the final system plan, the release or removal of a pre-existing lien or encumbrance of record related to the interest transferred.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 2490845:743(e) (words “title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 [45 U.S.C. 851 et seq.] or of”).Jan. 2, 1974, Pub. L. 93–236, 87 Stat. 985, § 303(e) (words “title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 or of”); added Feb. 5, 1976, Pub. L. 94–210, § 601(d), 90 Stat. 84; Sept. 30, 1976, Pub. L. 94–436, § 5 (related to title VII), 90 Stat. 1399. The words “or conveyances”, “(whether real, personal, or mixed)”, “which are made at any time”, “the purposes of”, “imposts”, “or on the recording of deeds, bills of sale, liens, encumbrances, or other instruments evidencing, effectuating, or incident to any such transfers or conveyances, whether imposed on the transferor or on the transferee”, “now or hereafter”, “to compensate . . . the cost of”, “such deeds, bills of sale, liens, encumbrances, or other”, and “the designations and applicable principles in” are omitted as surplus.
Reference
Citations & Metadata
Citation
49 U.S.C. § 24908
Title 49 — Transportation
Last Updated
Apr 6, 2026
Release point: 119-73