[Federal Register Volume 64, Number 226 (Wednesday, November 24, 1999)]
[Proposed Rules]
[Page 66157]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-30543]



[[Page 66157]]

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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

49 CFR Parts 1105 and 1180

[Ex Parte No. 282 (Sub-No. 19)]


New Procedures in Rail Acquisitions, Mergers and Consolidations

AGENCY: Surface Transportation Board.

ACTION: Proposed rule, withdrawal.

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SUMMARY: The Surface Transportation Board (Board) is withdrawing the 
proposed rule and discontinuing the Ex Parte No. 282 (Sub-No. 19) 
rulemaking proceeding relating to new procedures in rail acquisitions, 
mergers and consolidations.

DATES: The proposed rule is withdrawn and the rulemaking proceeding is 
discontinued on November 24, 1999.

FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600. [TDD for 
the hearing impaired: (202) 565-1695.]

SUPPLEMENTARY INFORMATION: In a notice of proposed rulemaking (NPR) 
that was served January 26, 1995 (an inadvertently omitted Appendix A 
was served January 27, 1995), and that was published in the Federal 
Register on January 31, 1995, at 60 FR 5890, the Interstate Commerce 
Commission (Commission) proposed to revise parts 1105 and 1180 of Title 
49, Code of Federal Regulations, in order to establish procedures that 
might ensure a more expeditious handling of proceedings involving 
transactions subject to the jurisdiction of the Commission under former 
49 U.S.C. 11343, 11344, and 11345. As respects ``major'' transactions 
(i.e., transactions involving the merger or control of two or more 
Class I railroads), the Commission proposed a 180-day procedural 
schedule (i.e., a procedural schedule under which the final decision 
would be issued 180 days after the date on which the primary 
application was filed). As respects ``significant'' transactions (i.e., 
transactions that are of regional or national transportation 
significance but that do not involve the merger or control of two or 
more Class I railroads) and ``minor'' transactions (i.e., transactions 
that are neither major nor significant), the Commission proposed 
conforming changes to 49 CFR 1180.4 (to ensure that the timetables 
applicable to significant transactions and minor transactions would be 
at least as expedited as the timetable applicable to major 
transactions). The Commission also proposed conforming changes to its 
49 CFR part 1105 environmental regulations.
    The ICC Termination Act of 1995, Public Law 104-88, 109 Stat. 803 
(ICCTA), which was signed into law by President Clinton on December 29, 
1995, abolished the Commission, established the Board, reenacted with 
certain changes the relevant statutory provisions, and transferred to 
the Board responsibility for the performance of functions respecting 
those statutory provisions. See ICCTA section 101 (abolition of the 
Commission); new 49 U.S.C. 701(a), as enacted by ICCTA section 201(a) 
(establishment of the Board); new 49 U.S.C. 11323, 11324, and 11325, as 
enacted by ICCTA section 102(a) (these are the post-1995 versions, as 
respects railroads, of what had been 49 U.S.C. 11343, 11344, and 11345, 
respectively); new 49 U.S.C. 702, as enacted by ICCTA section 201(a) 
(except as otherwise provided, the functions previously performed by 
the Commission shall henceforth be performed by the Board); ICCTA 
section 204(b)(1) (any proceeding pending before the Commission at the 
time of the enactment of ICCTA shall be transferred to the Board, 
insofar as that proceeding concerns functions transferred to the 
Board). In accordance with the mandate of ICCTA section 204(b)(1), the 
Ex Parte No. 282 (Sub-No. 19) rulemaking proceeding, which had been 
instituted by the Commission in the 1995 NPR, was transferred to the 
Board.
    We have decided to withdraw the rule proposed by the Commission in 
the 1995 NPR and to discontinue the Ex Parte No. 282 (Sub-No. 19) 
rulemaking proceeding. Our experience with the administration of major 
transaction cases handled under new 49 U.S.C. 11323-25 has led us to 
conclude that we should continue the case-by-case approach under which, 
as respects any particular major transaction, we can adopt a procedural 
schedule best suited to the full and fair development of the record for 
that transaction. See, e.g., CSX Corporation and CSX Transportation, 
Inc., Norfolk Southern Corporation and Norfolk Southern Railway 
Company--Control and Operating Leases/Agreements--Conrail Inc. and 
Consolidation Rail Corporation, STB Finance Docket No. 33388, Decision 
No. 6 (STB served May 30, 1997, and published that day in the Federal 
Register at 62 FR 29387) (adopting a 350-day procedural schedule to 
govern the major transaction at issue in the STB Finance Docket No. 
33388 proceeding); Canadian National Railway Company, Grand Trunk 
Corporation, and Grand Trunk Western Railroad Incorporated--Control--
Illinois Central Corporation, Illinois Central Railroad Company, 
Chicago, Central and Pacific Railroad Company, and Cedar River Railroad 
Company, STB Finance Docket No. 33556, Decision No. 6 (STB served Aug. 
14, 1998, and published that day in the Federal Register at 63 FR 
43744) (adopting a 300-day procedural schedule to govern the major 
transaction at issue in the STB Finance Docket No. 33556 proceeding).

Small Entities

    The Board certifies that the action taken in this proceeding will 
not have a significant economic impact on a substantial number of small 
entities.

Environmental and Energy Considerations

    The action taken in this proceeding will not significantly affect 
either the quality of the human environment or the conservation of 
energy resources.

Board Releases Available Via the Internet

    Decisions and notices of the Board, including this notice, are 
available on the Board's website at ``WWW.STB.DOT.GOV.''

    Decided: November 17, 1999.

    By the Board, Chairman Morgan, Vice Chairman Clyburn, and 
Commissioner Burkes.
Vernon A. Williams,
Secretary.
[FR Doc. 99-30543 Filed 11-23-99; 8:45 am]
BILLING CODE 4915-00-P