
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: 49USC24908]

 
                        TITLE 49--TRANSPORTATION
 
                        SUBTITLE V--RAIL PROGRAMS
 
                    PART C--PASSENGER TRANSPORTATION
 
           CHAPTER 249--NORTHEAST CORRIDOR IMPROVEMENT PROGRAM
 
Sec. 24908. Transfer taxes and levies and recording charges

    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.

(Pub. L. 103-272, Sec. 1(e), July 5, 1994, 108 Stat. 937.)

                                          Historical and Revision Notes
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---------------------------------
           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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---------------------------------
24908.................................  45:743(e) (words ``title VII of  Jan. 2
, 1974, Pub. L. 93-236, 87 Stat.
                                         the Railroad Revitalization      985, 
Sec.  303(e) (words ``title VII
                                         and Regulatory Reform Act of     of th
e Railroad Revitalization and
                                         1976 [45 U.S.C. 851 et seq.]     Regul
atory Reform Act of 1976 or
                                         or of'').                        of'')
; added Feb. 5, 1976, Pub. L. 94-
                                                                          210, 
Sec.  601(d), 90 Stat. 84; Sept.
                                                                          30, 1
976, Pub. L. 94-436, Sec.  5
                                                                          (rela
ted to title VII), 90 Stat. 1399.
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    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.
