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, §1(e), July 5, 1994, 108 Stat. 937.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 24908 | 45:743(e) (words "title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 [45 U.S.C. 851 et seq.] or of"). | Jan. 2, 1974, Pub. L. 93–236, 87 Stat. 985, §303(e) (words "title VII of the Railroad Revitalization and Regulatory Reform Act of 1976 or of"); added Feb. 5, 1976, Pub. L. 94–210, §601(d), 90 Stat. 84; Sept. 30, 1976, Pub. L. 94–436, §5 (related to title VII), 90 Stat. 1399. |
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Last modified: October 26, 2015