[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