96-5412. Removal of Obsolete Valuation Regulations

[Federal Register Volume 61, Number 46 (Thursday, March 7, 1996)]
[Rules and Regulations]
[Pages 9112-9113]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-5412]



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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

49 CFR Parts 1201 and 1262

[STB Ex Parte No. 539]


Removal of Obsolete Valuation Regulations

AGENCY: Surface Transportation Board, DOT.

ACTION: Final rule.

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SUMMARY: The Surface Transportation Board (the Board) is removing 
obsolete regulations concerning rail valuation from the Code of Federal 
Regulations.

EFFECTIVE DATE: January 1, 1996.

FOR FURTHER INFORMATION CONTACT: Beryl Gordon, [phone]. [TDD for 
the hearing impaired: [phone].]

SUPPLEMENTARY INFORMATION: Effective January 1, 1996, the ICC 
Termination Act of 1995, Pub. L. No. 104-88, 109 Stat. 803 (ICCTA) 
abolished the Interstate Commerce Commission (the Commission) and 
established within the Department of Transportation. Section 204 of the 
ICCTA provides that ``[t]he Board shall promptly rescind all 
regulations established by the [Commission] that are based on 
provisions of law repealed and not substantively reenacted by this 
Act.'' The rail property valuation provisions of former 49 U.S.C. 
10781-10786, including Sec. 10784, which is the statutory basis for the 
Part 1262 rail valuation regulations, have been repealed. We are 
therefore removing the now obsolete Part 1262 regulations,1 as 
well as Instruction 1-3(g) in Part 1201,2 which refers to part 
1262. Interested persons are encouraged to bring to the Board's 
attention any other regulations affected by the removal of former 49 
U.S.C. 10784.
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    \1\ The Valuation Act of 1913 directed the Commission to 
establish a valuation for all railroad property. An initial 
valuation was completed in 1920. Under 49 U.S.C. former 10784, after 
the initial valuation, the Commission was required to keep itself 
informed of changes in costs and valuations of railroad property. It 
was for that purpose that the Commission promulgated the Part 1262 
regulations requiring carriers to provide reports and information 
about changes in property values.
    \2\ We are also revising the authority section of Part 1201 by 
removing the authorities at Subpart A and Subpart B and adding a new 
authority section for Part 1201. It should be noted that the Subpart 
B authority referenced sections of the Regional Rail Reorganization 
Act of 1973 and the Railroad Revitalization and Regulatory Reform 
Act of 1976 that were codified in Title 49 in the now-repealed 
Sec. 10362. In place of that section, we are now using for authority 
new 49 U.S.C. 11142 and 11164.
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    Because this action merely reflects, and is required by, the 
enactment of the ICCTA and will not have an adverse effect on the 
interests of any person, this action will be deemed to be effective as 
of January 1, 1996.
    Prior to the elimination of Sec. 10784, in Uniform System of 
Records of Property Changes for Railroad Companies, Ex Parte No. 512 
(ICC served Aug. 26, 1992) and published at 57 FR 38810 (1992), the 
Commission had proposed eliminating the same regulations we are 
removing here. A comment in opposition to the rule change was filed. 
Because we are removing here the rules proposed for elimination in Ex 
Parte No. 512, in a separate decision we are withdrawing the proposed 
rule changes and discontinuing the Ex Parte No. 512 proceeding. We will 
address there the comment opposing the change.
    This action will not significantly affect either the quality of the 
human environment or the conservation of energy resources.

List of Subjects 49 CFR Parts 1201 and 1262

    Railroads, Reporting and recordkeeping requirements.

    Decided: February 28, 1996.


[[Page 9113]]


    By the Board, Chairman Morgan, Vice Chairman Simmons, and 
Commissioner Owen.
Vernon A. Williams,
Secretary.

    For the reasons set forth in the preamble and under the authority 
of 49 U.S.C. 721(a), title 49, chapter X of the Code of Federal 
Regulations is amended as set forth below:

PART 1201--RAILROAD COMPANIES

    1. The authority citations at Subpart A and Subpart B are removed 
and a new authority citation for part 1201 is added to read as follows:

    Authority: 5 U.S.C. 553 and 49 U.S.C. 11142 and 11164.

Subpart A--[Amended]

    2. In Subpart A, General Instructions, Instruction 1-3 is amended 
by removing paragraph (g).

PART 1262--[REMOVED]

    3. Part 1262 is removed.

[FR Doc. 96-5412 Filed 3-6-96; 8:45 am]
BILLING CODE 4915-00-P