Regional Rail Reorganization Act Amendments

[AI summary unavailable — showing source text] Regional Rail Reorganization Act Amendments - Increases, under the Regional Rail Reorganization Act, the sum authorized to be appropriated to the United States Railway Association for loans to railroads and specified corporations for specified purposes. Provides for an increase from $85,000,000 to $210,000,000. Provides that, prior to the date upon which rail properties are conveyed to the Consolidated Rail Corporation under this Act, the Secretary of Transportation, with the approval of the United States Railway Association, is authorized to enter into agreements with the trustees of the railroads subject to bankruptcy proceedings: (1) to perform maintenance on designated rail properties until the date of conveyance under this Act; (2) to improve railroad facilities or equipment for lease or loan. States that agreements pursuant to this Act shall contain such reasonable terms and conditions as the Secretary may prescribe. Directs the Association to issue obligations to finance such agreements and requires the Corporation to assume any such obligations. States the aggregate amount of obligations outstanding at any one time shall not exceed $300,000,000. Provides that whenever a cou…