
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 45USC905]

 
                           TITLE 45--RAILROADS
 
              CHAPTER 18--MILWAUKEE RAILROAD RESTRUCTURING
 
Sec. 905. Employee or employee-shipper ownership plan


(a) Submission of plan to Commission; approval; findings

    (1) No later than December 1, 1979, an association composed of 
representatives of national railway labor organizations, employee 
coalitions, and shippers (or any combination of the foregoing) may 
submit to the Commission a single plan for converting all or a 
substantial part of the Milwaukee Railroad into an employee or employee-
shipper owned company and a method for implementing such plan. The plan 
shall include a comprehensive evaluation of the prospects for the 
financial self-sustainability of the Milwaukee Railroad.
    (2) The Commission shall, within 30 days after the date of 
submission of a plan under paragraph (1) of this subsection, approve the 
proposed plan if it finds that such plan is feasible. The finding of the 
Commission with respect to the feasibility of the plan shall be made 
pursuant to section 554 of title 5.
    (3) The Commission shall make a finding that the plan submitted 
under this section is feasible if it determines that--
        (A) adequate public and private financing is available to the 
    proponents of such plan;
        (B) such plan is fair and equitable to the estate of the 
    Milwaukee Railroad;
        (C) implementation of such plan will occur by April 1, 1980;
        (D) the railroad proposed to be operated under the plan can be 
    operated on a self-sustaining basis; and
        (E) the plan contains an assessment of all operating practices, 
    and includes agreements by labor and management to make implementing 
    changes designed to achieve labor productivity increases (which may 
    include changes in work rules to increase productivity) consistent 
    with safe operations and adequate service.

For purposes of the determinations under this paragraph, adequate 
financing shall include all sources of private funds, the probable value 
and priority of valid claims against the estate, and Federal, State, or 
local funds available under programs (in existence as of January 1, 
1980) which are or will be available to the proponent and which the 
proponent is likely to obtain.

(b) Submission of findings to bankruptcy court

    If the Commission finds that the plan submitted under this section 
is feasible, it shall submit its finding to the bankruptcy court. Within 
10 days after the date of such submission, the bankruptcy court shall, 
after a hearing, determine whether such plan is fair and equitable to 
the estate of the Milwaukee Railroad. The Commission's determination 
with respect to that issue shall be rebutted only by clear and 
convincing evidence.

(c) Implementation of plan

    If the Commission finds that the plan is feasible and the bankruptcy 
court determines that the plan is fair and equitable to the estate of 
the Milwaukee Railroad, the proponents of such plan shall implement the 
plan no later than April 1, 1980.

(d) Judicial review

    Except as provided in this section, the findings of the Commission 
with respect to the plan shall not be subject to review.

(e) Furnishing of reports and other information for preparation of plan

    (1) The trustee of the Milwaukee Railroad shall promptly provide to 
the person engaged in developing the employee or employee and shipper 
ownership plan under this section--
        (A) its most recent reports on the physical condition of the 
    railroad; and
        (B) traffic, revenue, marketing, and other data necessary to 
    determine the amount of the acquisition cost of the railroad or 
    portion of the railroad that would be required to continue rail 
    transportation over the railroad line.

    (2) Information provided pursuant to this subsection shall be used 
only for purposes of preparing a plan and shall not be disclosed to any 
competitor or, unless necessary in connection with the preparation of 
the plan, to any customer of the Milwaukee Railroad.

(Pub. L. 96-101, Sec. 6, Nov. 4, 1979, 93 Stat. 738.)

  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 section 920 of this title.
