Use of capital grants to finance first-dollar liability of grant project

  1. Law
  2. USC 49
  3. Transportation
  4. RAIL PROGRAMS
  5. ASSISTANCE
  6. RAIL IMPROVEMENT GRANTS
  7. Use of capital grants to finance first-dollar liability of grant project

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§22904. Use of capital grants to finance first-dollar liability of grant project

Notwithstanding the requirements of section 22902 of this chapter, the Secretary of Transportation may approve the use of a capital assistance grant under this chapter to fund self-insured retention of risk for the first tier of liability insurance coverage for rail passenger service associated with the grant, but the coverage may not exceed $20,000,000 per occurrence or $20,000,000 in aggregate per year.

(Added Pub. L. 110–432, div. B, title III, §301(a), Oct. 16, 2008, 122 Stat. 4942 , §24404; renumbered §22904 and amended Pub. L. 115–420, §7(a)(1), (b)(2)(B), Jan. 3, 2019, 132 Stat. 5445 , 5446.)

Amendments

2019-Pub. L. 115–420 renumbered section 24404 of this title as this section and substituted "section 22902" for "section 24402".


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