
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC747]

 
                           TITLE 45--RAILROADS
 
                CHAPTER 16--REGIONAL RAIL REORGANIZATION
 
              SUBCHAPTER III--CONSOLIDATED RAIL CORPORATION
 
Sec. 747. Protection of Federal funds


(a) Audit

    (1) The Comptroller General of the United States is authorized to 
audit the programs, activities, and financial operations of the 
Corporation for any period during which (A) Federal funds provided 
pursuant to this chapter are being used to finance any portion of its 
operations, or (B) Federal funds have been invested therein pursuant to 
this chapter. Any such audit may be conducted under such rules and 
regulations as the Comptroller General may prescribe. The Comptroller 
General shall report to the Congress at such times and to such extent as 
he considers necessary to keep the Congress informed on the security of 
such Federal funds and guarantees and, to the extent appropriate, make 
recommendations for achieving greater economy, efficiency, and 
effectiveness in such programs, activities, and operations.
    (2) For the purpose of any audit conducted pursuant to subsection 
(a) of this section, the Comptroller General, or a designated 
representative of the Comptroller General, shall have access to and the 
right to examine all books, accounts, records, reports, files, and other 
papers, items, or property belonging to or in use by the Corporation.

(b) Report

    The Association shall prepare and submit an annual report to 
Congress on the performance of the Corporation in order to keep the 
Congress informed as to matters which may affect the quality of rail 
services in the region and which may affect the security of Federal 
funds referred to in subsection (a) of this section. Each such report 
shall be submitted within 150 days after the end of the fiscal year of 
the Corporation. Each such report shall include an evaluation of--
        (1) the degree to which the goals of section 716(a) of this 
    title are being met;
        (2) the amounts and causes of deviations, if any, from the 
    financial projections of the final system plan;
        (3) the amount of Federal funds made available to the 
    Corporation and a clear description of the uses of such funds;
        (4) the projected financial needs of the Corporation;
        (5) the projected sources from which such financial needs are 
    likely to be met; and
        (6) the ability of the Corporation to become financially self-
    sustaining without requiring Federal funds in excess of those 
    authorized by section 716(f) of this title.

(c) Monitoring of Corporation

    (1) The Association shall also report to the Congress, in accordance 
with this subsection, on the policies of the Corporation and the results 
of such policies with respect to operations, cost containment, and 
marketing.
    (2) Within 90 days after November 1, 1978, the Association shall (A) 
subdivide each such policy area into constituent parts or groups of 
parts which are specific and significant, (B) identify the most 
appropriate indicia to reflect accurately such parts or groups of parts, 
and (C)(i) determine any and all deficiencies in data used to compute 
the values of such indicia including consistency and clarity of 
definitions, timeliness of data entry, editing and validation of input 
data, and processing, and (ii) outline the efforts of the Association 
and Corporation to correct the deficiencies and the results of such 
efforts. On or before the end of such 90-day period, the Association 
shall submit to the Congress such methodological information and 
additional information which the Association deems necessary or 
appropriate to further the purpose of this subchapter.
    (3) Using such indicia, the Association shall report on (A) the 
relationship of each constituent part or groups of parts to the 
Corporation's revenue and capital and operating expenses, (B) the extent 
to which such parts or group of parts contributes to profits or losses, 
(C) the efforts of management to contain or reduce the contribution of 
such part or group of parts to losses, (D) the results of such efforts, 
and (E) such other information as the Association deems necessary or 
appropriate.
    (4) The Association shall (A) transmit to the Congress the first 
such monitoring report pursuant to paragraph (3) at the end of the first 
calendar quarter which begins after the end of the 90-day period for 
preparation and submission of the methodological information pursuant to 
paragraph (2), (B) report such monitoring information to the Congress at 
the end of the first quarter of each calendar year thereafter, (C) 
update methodological and monitoring information periodically as the 
Association deems necessary or appropriate, but in no case less 
frequently than once a year, and (D) where the results of such updating 
are statistically significant or relevant to Congressional policymaking, 
report them and the reasons for their significance at the end of the 
calendar quarter in which the updating occurred.

(Pub. L. 93-236, title III, Sec. 307, as added Pub. L. 94-210, title VI, 
Sec. 609, Feb. 5, 1976, 90 Stat. 99; amended Pub. L. 95-565, Sec. 7, 
Nov. 1, 1978, 92 Stat. 2400.)


                               Amendments

    1978--Subsec. (c). Pub. L. 95-565 added subsec. (c).


   Conrail Funding Studies; Reports to Congress; Recommendations for 
        Financially Self-Sustaining Rail System; Availability of 
 Recommendations; Publication in Federal Register; Comments on Reports; 
   Recommendations by Secretary on Future Structure and Operations by 
   Corporation; Immunity From Antitrust Laws; Analysis of Effects on 
Corporation and Employees of Alternative Changes in Labor Agreements and 
Related Operational Changes; Projections on Benefits, Changes, Savings, 
                         and Increased Revenues

    Pub. L. 96-448, title VII, Sec. 703(a)-(d), Oct. 14, 1980, 94 Stat. 
1962, directed the United States Railway Association and the 
Consolidated Rail Corporation, not later than Apr. 1, 1980 (which 
probably should have been Apr. 1, 1981) to each submit a report to 
Congress analyzing the impact, upon the Corporation, rail service in the 
region, railroad employees, the economy of the region, other rail 
carriers in the region and elsewhere, and the Federal budget, of no 
further Federal funding for the Corporation, continued Federal funding 
of the rail system of the Corporation as then structured, and future 
Federal funding of the Corporation to the extent necessary to preserve 
rail service in the region which could be self-supporting, without undue 
interim disruption of operations, required publication of these reports 
in the Federal Register, directed the Interstate Commerce Commission, 
not later than May 1, 1981, to submit to Congress its comments on the 
report of the Association, the Secretary of Transportation, and the 
Corporation, directed the Secretary of Transportation, not later than 
Apr. 1, 1981, to submit to Congress his recommendations with respect to 
the future structure and operations of the Corporation, and not later 
than May 1, 1981, to submit to Congress his comments and recommendations 
with respect to the reports of the Association and Corporation, provided 
that the antitrust laws as defined in section 791(a)(3) of this title 
not apply to any action of the Association or Secretary of 
Transportation prior to May 1, 1981, directed the Corporation, not later 
than Mar. 15, 1981 to submit to Congress an analysis of the effects upon 
the Corporation and its employees of alternative changes in labor 
agreements and related operational changes, including an analysis of any 
Federal funding that would be required, and directed the Corporation, 
not later than Jan. 15, 1981, to submit to the Association its 
projections of the benefits to the Corporation of the Staggers Rail Act 
of 1980, Pub. L. 96-448, Oct. 14, 1980, 94 Stat. 1895, its projections 
of changes needed in the structure of the rail system of the 
Corporation, including properties which might be abandoned or 
transferred, and other projections of potential savings or increased 
revenues to the Corporation.

Abolition of United States Railway Association and Transfer of Functions 
                             and Securities

    See section 1341 of this title.


           Applicability of National Environmental Policy Act

    Application of National Environmental Policy Act to actions of 
Commission not affected by title VI of Pub. L. 94-210, see section 619 
of Pub. L. 94-210, set out as a note under section 791 of this title.
