Railroad Revitalization and Regulatory Reform Act Law and Legal Definition
The Railroad Revitalization and Regulatory Reform Act of 1976 is a U.S federal statute. The Act is commonly known as the 4R Act. The Act is to fund the reorganized bankrupt Northeast and Midwest railroads that formed Conrail in 1975. The Act allows funding for upgrading rail facilities and provides for regulatory reforms provisions.
The Purpose of the Act is:
1. to provide the means to rehabilitate and maintain the physical facilities of the railway system;
2. to improve the operations and structure, and restore the financial stability of the railway system; and
3. to promote the revitalization of railway system.
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