§ 24404. Use of capital grants to finance first-dollar liability of grant project

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Notwithstanding the requirements of section 24402 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.)

                    
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