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49 U.S.C. § 10905 — Offering abandoned rail properties for sale for public purposes
Federal law — U.S. Code and appendices · legal_authorities
When the Board approves an application to abandon or discontinue under section 10903, the Board shall find whether the rail properties that are involved in the proposed abandonment or discontinuance are appropriate for use for public purposes, including highways, other forms of mass transportation, conservation, energy production or transmission, or recreation. If the Board finds that the rail properties proposed to be abandoned are appropriate for public purposes and not required for continued rail operations, the properties may be sold, leased, exchanged, or otherwise disposed of only under conditions provided in the order of the Board. The conditions may include a prohibition on any such disposal for a period of not more than 180 days after the effective date of the order, unless the properties have first been offered, on reasonable terms, for sale for public purposes.
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 10905
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Stable record: federal_law:legal_authorities:record_usc_8dfce9679236780c6ea5d2e0
Source file: Laws/federal/codes/united-states-code/title-49/section-10905-offering-abandoned-rail-properties-for-sale-for-public-purposes--052d7de977.md
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Passage SHA-256: 41aa6628cbe481bc14df2f9a0bfc7711627a1aec05e2b9ba0d1b334faff22294
Source location: Title 49, Chapter 109, § 10905; chapter-109-licensing.md
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When the Board approves an application to abandon or discontinue under section 10903, the Board shall find whether the rail properties that are involved in the proposed abandonment or discontinuance are appropriate for use for public purposes, including highways, other forms of mass transportation, conservation, energy production or transmission, or recreation. If the Board finds that the rail properties proposed to be abandoned are appropriate for public purposes and not required for continued rail operations, the properties may be sold, leased, exchanged, or otherwise disposed of only under conditions provided in the order of the Board. The conditions may include a prohibition on any such disposal for a period of not more than 180 days after the effective date of the order, unless the properties have first been offered, on reasonable terms, for sale for public purposes.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment.—** The Surface Transportation Board is an independent establishment of the United States Government.
**(b) Membership.—**
(1) The Board shall consist of 5 members, to be appointed by the President, by and with the advice and consent of the Senate. Not more than 3 members may be appointed from the same political party.
(2) At all times—
(A) at least 3 members of the Board shall be individuals with professional standing and demonstrated knowledge in the fields of transportation, transportation regulation, or economic regulation; and
(B) at least 2 members shall be individuals with professional or business experience (including agriculture) in the private sector.
(3) The term of each member of the Board shall be 5 years and shall begin when the term of the predecessor of that member ends. An individual appointed to fill a vacancy occurring before the expiration of the term for which the predecessor of that individual was appointed, shall be appointed for the remainder of that term. When the term of office of a member ends, the member may continue to serve until a successor is appointed and qualified, but for a period not to exceed one year. The President may remove a member for inefficiency, neglect of duty, or malfeasance in office.
(4) No individual may serve as a member of the Board for more than 2 terms. In the case of an individual appointed to fill a vacancy occurring before the expiration of the term for which the predecessor of that individual was appointed, such individual may not be appointed for more than one additional term.
(5) A member of the Board may not have a pecuniary interest in, hold an official relation to, or own stock in or bonds of, a carrier providing transportation by any mode and may not engage in another busines
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 1301
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Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding section 10901 and subchapter II of chapter 113 of this title, and without the approval of the Board, a rail carrier providing transportation subject to the jurisdiction of the Board under this part may enter into arrangements for the joint ownership or joint use of spur, industrial, team, switching, or side tracks. The Board does not have authority under this chapter over construction, acquisition, operation, abandonment, or discontinuance of spur, industrial, team, switching, or side tracks.
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 10906
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** In this section—
(1) the term “avoidable cost” means all expenses that would be incurred by a rail carrier in providing transportation that would not be incurred if the railroad line over which the transportation was provided were abandoned or if the transportation were discontinued. Expenses include cash inflows foregone and cash outflows incurred by the rail carrier as a result of not abandoning or discontinuing the transportation. Cash inflows foregone and cash outflows incurred include—
(A) working capital and required capital expenditure;
(B) expenditures to eliminate deferred maintenance;
(C) the current cost of freight cars, locomotives, and other equipment; and
(D) the foregone tax benefits from not retiring properties from rail service and other effects of applicable Federal and State income taxes; and
(2) the term “reasonable return” means—
(A) if a rail carrier is not in reorganization, the cost of capital to the rail carrier, as determined by the Board; and
(B) if a rail carrier is in reorganization, the mean cost of capital of rail carriers not in reorganization, as determined by the Board.
**(b)** Any rail carrier which has filed an application for abandonment or discontinuance shall provide promptly to a party considering an offer of financial assistance and shall provide concurrently to the Board—
(1) an estimate of the annual subsidy and minimum purchase price required to keep the line or a portion of the line in operation;
(2) its most recent reports on the physical condition of that part of the railroad line involved in the proposed abandonment or discontinuance;
(3) traffic, revenue, and other data necessary to determine the amount of annual financial assistance which would be required to continue rail transportation o
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 10904
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Federal law — U.S. Code and appendices · legal_authorities
Page 437
TITLE 49—TRANSPORTATION
§ 10906
(3) If a rail carrier receives more than one
offer to subsidize or purchase, it shall select the
offeror with whom it wishes to transact busi-
ness, and complete the subsidy or sale agree-
ment, or request that the Board establish the
conditions and amount of compensation before
the 40th day after the expiration of the 4-month
period described in subsection (c). If no agree-
ment on subsidy or sale is reached within such
40-day period and the Board has not been re-
quested to establish the conditions and amount
of compensation, any other offeror whose offer
was made within the 4-month period described
in subsection (c) may request that the Board es-
tablish the conditions and amount of compensa-
tion. If the Board has established the conditions
and amount of compensation, and the original
offer has been withdrawn, any other offeror
whose offer was made within the 4-month period
described in subsection (c) may accept the
Board’s decision within 20 days after such deci-
sion, and the Board shall require the carrier to
enter into a subsidy or sale agreement with such
offeror, if such subsidy or sale agreement incor-
porates the Board’s decision.
(4)(A) No purchaser of a line or portion of line
sold under this section may transfer or dis-
continue service on such line prior to the end of
the second year after consummation of the sale,
nor may such purchaser transfer such line, ex-
cept to the rail carrier from whom it was pur-
chased, prior to the end of the fifth year after
consummation of the sale.
(B) No subsidy arrangement approved under
this section shall remain in effect for more than
one year, unless otherwise mutually agreed by
the parties.
(g) Upon abandonment of a railroad line under
this chapter,
Source: Supplied 2024 U.S. Code historical extraction · 49 U.S.C. § 10905
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.