
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC748]

 
                           TITLE 45--RAILROADS
 
                CHAPTER 16--REGIONAL RAIL REORGANIZATION
 
              SUBCHAPTER III--CONSOLIDATED RAIL CORPORATION
 
Sec. 748. Abandonments


(a) General

    The Corporation may, in accordance with this section, file with the 
Commission an application for a certificate of abandonment for any line 
which is part of the system of the Corporation. Any such application 
shall be governed by this section and shall not, except as specifically 
provided in this section, be subject to the provisions of chapter 109 of 
title 49.

(b) Applications for abandonment

    Any application for abandonment that is filed by the Corporation 
under this section before December 1, 1981, shall be granted by the 
Commission within 90 days after the date such application is filed 
unless, within such 90-day period, an offer of financial assistance is 
made in accordance with subsection (d) of this section with respect to 
the line to be abandoned.

(c) Notice of insufficient revenues

    (1) The Corporation may, prior to November 1, 1985, file with the 
Commission a notice of insufficient revenues for any line which is part 
of the system of the Corporation.
    (2) At any time after the 90-day period beginning with the filing of 
a notice of insufficient revenues for a line, the Corporation may file 
an application for abandonment for such line. An application for 
abandonment that is filed by the Corporation under this subsection for a 
line for which a notice of insufficient revenues was filed under 
paragraph (1) shall be granted by the Commission within 90 days after 
the date such application is filed unless, within such 90-day period, an 
offer of financial assistance is made in accordance with subsection (d) 
of this section with respect to such line.

(d) Offers of financial assistance

    (1) The provisions of section 10904 of title 49 (including the 
timing requirements of subsection (d) thereof) shall apply to any offer 
of financial assistance under subsection (b) or (c) of this section.
    (2) The Corporation shall provide any person that intends to make an 
offer of financial assistance under subsection (b) or (c) of this 
section with such information as the Commission may require.

(e) Liquidation

    (1) If any application for abandonment is granted under subsection 
(b) of this section, the Commission shall, as soon as practicable, 
appraise the net liquidation value of the line to be abandoned, and 
shall publish notice of such appraisal in the Federal Register.
    (2) Appraisals made under paragraph (1) shall not be appealable.
    (3)(A) If, within 120 days after the date on which an appraisal is 
published in the Federal Register under paragraph (1), the Corporation 
receives a bona fide offer for the sale, for 75 percent of the amount at 
which the liquidation value of such line was appraised by the 
Commission, of the line to be abandoned, the Corporation shall sell such 
line and the Commission shall, unless the parties otherwise agree, 
establish an equitable division of joint rates for through routes over 
such lines.
    (B) If the Corporation receives no bona fide offer under 
subparagraph (A), within such 120-day period, the Corporation may 
abandon or dispose of the line as it chooses, except that the 
Corporation may not dismantle bridges, or other structures (not 
including rail, signals, and other rail facilities) for 120 days 
thereafter. The Secretary may require that bridges or other structures 
(not including rail, signals, and other rail facilities), not be 
dismantled for an additional 8 months if he assumes all liability of any 
sort related to such property.
    (4) If the purchaser under paragraph (3)(A) of this subsection of 
any line of the Corporation abandons such line within five years after 
such purchase, the proceeds of any track liquidations shall be paid into 
the general fund of the Treasury of the United States.

(f) Employee protection

    The provisions of section 10903(b)(3) \1\ of title 49 shall not 
apply to any abandonment granted under this section. Any employee who 
was protected by the compensatory provisions of subchapter V \2\ of this 
chapter immediately prior to August 13, 1981, who is deprived of 
employment by such an abandonment shall be eligible for employee 
protection under section 797 \2\ of this title.
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    \1\ So in original. Section 10903(b) of Title 49, Transportation, 
does not contain a par. (3).
    \2\ See References in Text note below.
---------------------------------------------------------------------------

(Pub. L. 93-236, title III, Sec. 308, as added Pub. L. 97-35, title XI, 
Sec. 1156(a), Aug. 13, 1981, 95 Stat. 679; amended Pub. L. 98-181, title 
II, Sec. 2003(c)(2), Nov. 30, 1983, 97 Stat. 1298; Pub. L. 104-88, title 
III, Sec. 327(4), Dec. 29, 1995, 109 Stat. 952.)

                       References in Text

    Subchapter V of this chapter, referred to in subsec. (f), was 
repealed by Pub. L. 97-35, title XI, Sec. 1144(a)(1), Aug. 13, 1981, 95 
Stat. 669.
    Section 797 of this title, referred to in subsec. (f), was repealed 
by Pub. L. 99-509, title IV, Sec. 4024(c), Oct. 21, 1986, 100 Stat. 
1904, effective on the sale date (Apr. 2, 1987).


                               Amendments

    1995--Subsec. (d)(1). Pub. L. 104-88, Sec. 327(4)(A), substituted 
``section 10904'' for ``section 10905(d)-(f)''.
    Subsec. (f). Pub. L. 104-88, Sec. 327(4)(B), substituted ``section 
10903(b)(3)'' for ``section 10903(b)(2)''.
    1983--Subsec. (c)(1). Pub. L. 98-181 substituted ``1985'' for 
``1983''.


                    Effective Date of 1995 Amendment

    Amendment by Pub. L. 104-88 effective Jan. 1, 1996, see section 2 of 
Pub. L. 104-88, set out as an Effective Date note under section 701 of 
Title 49, Transportation.


                             Effective Date

    Section effective Aug. 13, 1981, see section 1169 of Pub. L. 97-35, 
set out as a note under section 1101 of this title.

  Abolition of Interstate Commerce Commission and Transfer of Functions

    Interstate 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.

                  Section Referred to in Other Sections

    This section is referred to in sections 741, 1321 of this title.
