FEDERAL RAILROAD ADMINISTRATION : LEGISLATION, REGULATION & LITIGATION

49 U.S.C.A. § 24908

UNITED STATES CODE ANNOTATED
TITLE 49. TRANSPORTATION
SUBTITLE V--RAIL PROGRAMS
PART C--PASSENGER TRANSPORTATION
CHAPTER 249--NORTHEAST CORRIDOR IMPROVEMENT PROGRAM

Current through Pub. L. 108-6, approved 02-13-03

§ 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.