Amtrak Reorganization Act of 1979

[AI summary unavailable — showing source text] Title I: Amtrak Reorganization - Amtrak Reorganization Act of 1979 - Amends the Rail Passenger Service Act to direct the National Railroad Passenger Corporation to issue preferred stock to the Federal Financing Bank to cover the purchase of capital equipment and facilities for which the Corporation is currently obligated against previously authorized guaranteed loan authority. Directs the Bank to accept such stock in full settlement of all the guaranteed loans which it made to the Corporation and which are outstanding. Directs the Bank to transfer such stock to the Secretary of the Treasury in full settlement of all obligations of the Bank to the Secretary in connection with the Bank's loans to the Corporation. Directs the Secretary, in return for additional preferred stock to provide additional resources to the Corporation, as required for payment to vendors to liquidate obligations of the Corporation for capital equipment and facilities. Repeals the present program under which the Secretary guarantees loans of the Corporation. Directs the Corporation, by January 1, 1981, to develop and submit to the President and the Congress, a comprehensive plan for the improvement of all inter…