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United States Railway Association
The United States Railway Association (USRA) was a government-owned corporation created by United States federal law that oversaw the creation of Conrail, a railroad corporation that would acquire and operate bankrupt and other failing freight railroads. USRA operated from 1974 to 1987.
==Legislation and establishment of USRA==
In the Regional Rail Reorganization Act of 1973, also known as the "3R Act," Congress provided interim funding to bankrupt railroads and authorized creation of the Consolidated Rail Corporation (Conrail), another government corporation.〔Regional Rail Reorganization Act of 1973, Pub.L. 93-236, 87 Stat. 985, . Approved 1974-01-02. Note: The approved bill was also called the "Northeast Region Rail Services Act." Section 1 of Pub.L. 93–236 provided that the law may be cited as "Regional Rail Reorganization Act of 1973." See (45 U.S.C. 701 note ).〕
The 3R Act authorized the USRA to take over the powers of the Interstate Commerce Commission (ICC) with respect to allowing the bankrupt railroads to abandon unprofitable lines. The USRA was incorporated February 1, 1974, and Edward G. Jordan, an insurance executive from California, was named president on March 18 by President Richard Nixon. Arthur D. Lewis of Eastern Air Lines was appointed chairman April 30, and the rest of the board was named May 30 and sworn in July 11.
The U.S. Supreme Court affirmed the constitutionality of the 3R Act in deciding the ''Regional Rail Reorganization Act Cases'' on December 16, 1974.〔U.S. Supreme Court. ''Regional Rail Reorganization Act Cases,'' .〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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