[Federal Register Volume 62, Number 130 (Tuesday, July 8, 1997)]
[Proposed Rules]
[Pages 36480-36481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-17747]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
49 CFR Parts 1181, 1182, 1186, and 1188
[Ex Parte No. MC-216]
Jurisdiction Over Motor Finance Transactions
AGENCY: Surface Transportation Board.
ACTION: Proposed rule, withdrawal.
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SUMMARY: The Surface Transportation Board is discontinuing the
rulemaking in Ex Parte No. MC-216. The rulemaking is discontinued
because the regulatory support is no longer required.
DATES: This withdrawal is effective on July 8, 1997.
FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600]. [TDD
for the hearing impaired: (202) 565-1695.]
SUPPLEMENTARY INFORMATION: The ICC Termination Act of 1995, Pub. L. No.
104-88, 109 Stat. 803 (1995) (ICCTA), which took effect on January 1,
1996, abolished the Interstate Commerce Commission (ICC) and
transferred certain of its motor carrier regulatory functions to the
Secretary of Transportation (Secretary) and to the Surface
Transportation Board (Board). See ICCTA section 101 (abolition of the
ICC). See also new 49 U.S.C. 13101-14914 (regulatory provisions
applicable to motor carriers, administered in part by the Secretary and
in part by the Board).
Prior to January 1, 1996, former 49 U.S.C. 11343 provided that
certain motor carrier transactions, including those related to mergers,
purchases, and acquisitions of control, could not be carried out
without prior ICC approval. Under former 49 U.S.C. 11343(d)(1),
however, ICC approval was not required if the only parties were motor
carriers and their ``aggregate gross operating revenues'' did not
exceed $2 million during a consecutive 12-month period ending not more
than 6 months before the date of the agreement underlying the
transaction.
Sale, lease, and merger transactions involving only motor carriers
whose aggregate gross operating revenues did not exceed the $2 million
threshold were subject to prior ICC approval under former 49 U.S.C.
10926 and the small carrier transfer rules of 49 CFR part 1181. Control
transactions involving only motor carriers whose aggregate gross
operating revenues did not exceed the $2 million threshold were not
subject to ICC jurisdiction.
In the notice of proposed rulemaking (NPR) in this proceeding,
served
[[Page 36481]]
December 15, 1993, and published December 16, 1993 (58 FR 65695), the
ICC proposed to redefine aggregate gross operating revenues for
purposes of calculating the $2 million threshold. The notice of
proposed rulemaking included both a revised 49 CFR part 1188 and
conforming amendments to 49 CFR parts 1181, 1182, and 1186.
Under new 49 U.S.C. 14303(g), the only remaining jurisdiction
analogous to the non-rail portions of former section 49 U.S.C. 11343,
motor carriers of passengers must still obtain Board approval for the
same transactions that formerly were subject to old 49 U.S.C. 11343,
unless the parties' aggregate gross operating revenues do not exceed
the same $2 million jurisdictional threshold of old 49 U.S.C.
11343(d)(1). Other regulatory approval, as was required under former 49
U.S.C. 10926, is no longer required when the parties' aggregate gross
operating revenues do not exceed the $2 million threshold.
Consequently, in Revision to Regulations Governing Finance Applications
Involving Motor Passenger Carriers, STB Ex Parte No. 559 (published
elsewhere in this section of the Federal Register), we are issuing a
new NPR proposing revised procedures for finance applications involving
motor carriers of passengers. Because we will consider the
jurisdictional threshold computation issue in STB Ex Parte No. 559, we
are discontinuing this proceeding. The comments previously filed in
this proceeding will be made part of the record in STB Ex Parte No. 559
and need not be refiled.
Environmental And Energy Considerations
This action will not significantly affect either the quality of the
human environment or the conservation of energy resources.
Regulatory Flexibility Analysis
This action will not have a significant economic impact on a
substantial number of small entities. It imposes no new requirements on
any entity, and previous requirements involving carriers other than
motor passenger carriers have been repealed by statute.
Decided: June 20, 1997.
By the Board, Chairman Morgan and Vice Chairman Owen.
Vernon A. Williams,
Secretary.
[FR Doc. 97-17747 Filed 7-7-97; 8:45 am]
BILLING CODE 4915-00-P
