2010 US Code
Title 45 - RAILROADS
CHAPTER 19 - ROCK ISLAND RAILROAD EMPLOYEE ASSISTANCE
Sec. 1016 - Temporary rail banking
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 4, Title 45 - RAILROADS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 45 - RAILROADS CHAPTER 19 - ROCK ISLAND RAILROAD EMPLOYEE ASSISTANCE Sec. 1016 - Temporary rail banking |
Contains | section 1016 |
Date | 2010 |
Laws in Effect as of Date | January 7, 2011 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 96-254, title I, §121, May 30, 1980, 94 Stat. 409. |
Statutes at Large Reference | 94 Stat. 409 |
Public Law References | Public Law 96-254, Public Law 104-88 |
§1016. Temporary rail banking
During the 180-day period beginning on May 30, 1980, no rail line or facility of the Rock Island Railroad which has been approved for abandonment by the Commission or the bankruptcy court may be downgraded, scrapped, or otherwise disposed of without the approval of the Secretary under this section. In no case before abandonment has been approved and before the 180-day period has elapsed shall the Secretary approve a disposition of such portion of the rail line or related facility to any carrier or other entity not engaged in providing railroad services or not formed for the purpose of providing railroad services. The Secretary, upon application by the Rock Island Railroad, shall grant such approval unless he finds that—
(1) a rail carrier, shipper, State, or other interested party has expressed in writing an interest in purchasing, leasing or rehabilitating the particular rail line or facility for purposes of providing rail service; and
(2) there is a reasonable expectation that such purchase transaction will be consummated.
(Pub. L. 96–254, title I, §121, May 30, 1980, 94 Stat. 409.)
Abolition of Interstate Commerce Commission and Transfer of FunctionsInterstate Commerce Commission abolished and functions of Commission transferred, except as otherwise provided in Pub. L. 104–88, to Surface Transportation Board effective Jan. 1, 1996, by section 702 of Title 49, Transportation, and section 101 of Pub. L. 104–88, set out as a note under section 701 of Title 49. References to Interstate Commerce Commission deemed to refer to Surface Transportation Board, a member or employee of the Board, or Secretary of Transportation, as appropriate, see section 205 of Pub. L. 104–88, set out as a note under section 701 of Title 49.
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