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

Type Statute

Publication 2024-12-20

State In force

Department United States Congress

Source OLRC

§ 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.)

Editorial Notes

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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