49 U.S.C. § 24317: Accounts

promote the effective use and stewardship by Amtrak of Amtrak revenues, Federal, State, and third party investments, appropriations, grants and other forms of financial assistance, and other sources of funds; and enhance the transparency of the assignment of revenues, including Federal grant funds, and costs among Amtrak service lines while ensuring the health of the Northeast Corridor and National Network. The Secretary of Transportation, in consultation with Amtrak, shall define, maintain, and periodically update an account structure and improvements to accounting methodologies, as necessary, to support the Northeast Corridor and the National Network. the service lines described in section 24320(b)(1); and the asset lines described in section 24320(c)(1). grant funds appropriated for the Northeast Corridor pursuant to section 11101(a) of the Passenger Rail Reform and Investment Act of 2015 or any subsequent Act; compensation received from commuter rail passenger transportation providers for such providers’ share of capital and operating costs on the Northeast Corridor provided to Amtrak pursuant to section 24905(c); and any operating surplus of the Northeast Corridor, as allocated pursuant to section 24318. grant funds appropriated for the National Network pursuant to section 11101(b) of the Passenger Rail Reform and Investment Act of 2015 or any subsequent Act; compensation received from States provided to Amtrak pursuant to section 209 of the Passenger Rail Investment and Improvement Act of 2008 ( 42 U.S.C. 24101 note); 1 and 1 See References in Text note below. any operating surplus of the National Network, as allocated pursuant to section 24318. operating activities; capital activities as described in section 24904(a)(2)(E); acquiring, rehabilitating, manufacturing, remanufacturing, overhauling, or improving equipment and associated facilities used for intercity rail passenger transportation by Northeast Corridor train services; payment of principal and interest on loans for capital projects described in this paragraph or for capital leases attributable to the Northeast Corridor; other capital projects on the Northeast Corridor, determined appropriate by the Secretary, and consistent with section 24905(c)(1)(A)(i); and if applicable, capital projects described in section 24904(b). operating activities; capital activities; and the payment of principal and interest on loans or capital leases attributable to the National Network. Amtrak, in consultation with the Secretary of Transportation, shall maintain and implement any account structures and improvements defined under subsection (b) to enable Amtrak to produce sources and uses statements for each of the service lines described in section 24320(b)(1) and, as appropriate, each of the asset lines described in section 24320(c)(1), that identify sources and uses of revenues, appropriations, and transfers between accounts. Not later than 30 days after the implementation of subsection (b), and monthly thereafter, Amtrak shall submit to the Secretary of Transportation updated sources and uses statements for each of the service lines and asset lines referred to in paragraph (1). The Secretary and Amtrak may agree to a different frequency of reporting. do not materially impact Amtrak’s ability to achieve its anticipated financial, capital, and operating performance goals for the fiscal year; and would not materially change any grant agreement entered into pursuant to section 24319(d), or other agreements made pursuant to applicable Federal law. Amtrak notifies the Amtrak Board of Directors, including the Secretary, at least 10 days prior to the expected date of transfer; and solely for a transfer that will materially change a grant agreement, the Secretary approves. the amount of the transfer; and the effects on Amtrak services funded by the account from which the transfer is drawn, in comparison to a scenario in which no transfer was made; and the effects on Amtrak services funded by the account receiving the transfer, in comparison to a scenario in which no transfer was made. Not later than 5 days after the date that Amtrak notifies the Amtrak Board of Directors of a transfer under paragraph (1) to or from an account, Amtrak shall transmit to the State-Supported Route Committee and Northeast Corridor Commission a letter that includes the information described under subparagraphs (A) and (B) of paragraph (2). Notwithstanding section 24102, for purposes of this section, the term “Northeast Corridor” means the Northeast Corridor main line between Boston, Massachusetts, and the District of Columbia, and facilities and services used to operate and maintain that line.