R.J. Corman Railroad Company/Pennsylvania Lines Inc.-Lease and Operation Within a Corporate Family Transaction Exemption-R.J. Corman Railroad Property, LLC, 55957 [05-19024]

Download as PDF Federal Register / Vol. 70, No. 184 / Friday, September 23, 2005 / Notices Decided: September 16, 2005. By the Board, David M. Konschnik, Director, Office of Proceedings. Vernon A. Williams, Secretary. [FR Doc. 05–19025 Filed 9–22–05; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION Surface Transportation Board [STB Finance Docket No. 34744] R.J. Corman Railroad Company/ Pennsylvania Lines Inc.—Lease and Operation Within a Corporate Family Transaction Exemption—R.J. Corman Railroad Property, LLC R.J. Corman Railroad Company/ Pennsylvania Lines Inc. (RJCP), a Class III rail carrier, has filed a notice of exemption under 49 CFR 1180.2(d)(3). The exemption involves what RJCP describes as a corporate family transaction whereby R.J. Corman Railroad Property, LLC (Railroad Property) will lease to RJCP and RJCP will operate a line of railroad, known as the Loup Creek Branch, extending from milepost 0.0 at Thurmond, WV, to milepost 12.0 at Mt. Hope, WV, a distance of approximately 12 miles.1 The transaction was scheduled to be consummated on or shortly after September 1, 2005, the effective date of the exemption. This transaction is within a corporate family of the type specifically exempted from prior approval under 49 CFR 1180.2(d)(3). RJCP states that the transaction will not result in adverse changes in service levels, significant operational changes, or a change in the competitive balance with carriers outside of the corporate family. According to RJCP, the purpose of the transaction is to substitute one Corman affiliate for another as the leasee and operator of the line, which will address certain tax and financing considerations within the Corman family of companies, and will not result in any changes in rail service or operations. Under 49 U.S.C. 10502(g), the Board may not use its exemption authority to relieve a rail carrier of its obligation to protect the interests of its employees. Section 11326(c), however, does not provide for labor protection for transactions under sections 11324 and 11325 that involve only Class III rail carriers. Accordingly, the Board may not 1 Prior to this transaction, the Loup Creek Branch was leased and operated by R.J. Corman Railroad Company/Bardstown Lines (RJCR). RJCP, Railroad Property and RJCR are commonly controlled by Richard J. Corman (Corman). VerDate Aug<31>2005 15:21 Sep 22, 2005 Jkt 205001 impose labor protective conditions here because all of the carriers involved are Class III carriers. If the notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the transaction. An original and 10 copies of all pleadings, referring to STB Finance Docket No. 34744, must be filed with the Surface Transportation Board, 1925 K Street, NW., Washington, DC 20423– 0001. In addition, one copy of each pleading must be served on Ronald A. Lane, Fletcher & Sippel LLC, 29 North Wacker Drive, Suite 920, Chicago, IL 60606–2832. Board decisions and notices are available on our Web site at http:// www.stb.dot.gov. Decided: September 19, 2005. By the Board, David M. Konschnik, Director, Office of Proceedings. Vernon A. Williams, Secretary. [FR Doc. 05–19024 Filed 9–22–05; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request September 16, 2005. The Department of the Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220. DATES: Written comments should be received on or before October 24, 2005 to be assured of consideration. Internal Revenue Service (IRS) OMB Number: 1545–0619. Type of Review: Revision. Title: Credit for Increasing Research Activities. Form: IRS form 6765. Description: IRC section 38 allows for credit against income tax (Determined under IRC section 41) for an increase in research activities in a trade or business. PO 00000 Frm 00143 Fmt 4703 Sfmt 4703 55957 Form 6765 is used by businesses and individuals engaged in a trade or business to figure and report credit. The data is used to verify that the credit claimed is correct. Respondents: Business or other-forprofit. Estimated Total Burden Hours: 455,233 hours. OMB Number: 15451257. Type of Review: Extension. Title: Credit for Prior Year Minimum Tax—Corporation. Form: IRS form 8827. Description: Section 53(d), as revised, allows corporation a minimum tax credit based on the full amount of alternative minimum tax incurred in tax years beginning after 1989, or a carry forward for use in a future year. Respondents: Business or other for profit. Estimated Total Burden Hours: 25,000 hours. OMB Number: 1545–1653. Type of Review: Extension. Title: Revenue Procedure 99–26 Secured Employee Benefits Settlement Initiative. Description: This revenue procedure provides taxpayers options to settle cases in which they accelerated deductions for accrued employee benefits secured by a letter of credit, bond, or other similar financial instrument. Respondents: Business or other forprofit. Estimated Total Burden Hours: 2,000 hours. Clearance Officer: Glenn P. Kirkland, (202) 622–3428, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Alexander T. Hunt, (202) 395–7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Michael A. Robinson, Treasury PRA Clearance Officer. [FR Doc. 05–19043 Filed 9–22–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Senior Executive Service; Departmental Offices; FY 2005 Performance/Bonus Review Board Treasury Department. Notice of membership of the Departmental Offices Performance/ Bonus Review Board. AGENCY: ACTION: EFFECTIVE DATE: Membership is effective on the date of this notice. E:\FR\FM\23SEN1.SGM 23SEN1

Agencies

[Federal Register Volume 70, Number 184 (Friday, September 23, 2005)]
[Notices]
[Page 55957]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-19024]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34744]


R.J. Corman Railroad Company/Pennsylvania Lines Inc.--Lease and 
Operation Within a Corporate Family Transaction Exemption--R.J. Corman 
Railroad Property, LLC

    R.J. Corman Railroad Company/Pennsylvania Lines Inc. (RJCP), a 
Class III rail carrier, has filed a notice of exemption under 49 CFR 
1180.2(d)(3). The exemption involves what RJCP describes as a corporate 
family transaction whereby R.J. Corman Railroad Property, LLC (Railroad 
Property) will lease to RJCP and RJCP will operate a line of railroad, 
known as the Loup Creek Branch, extending from milepost 0.0 at 
Thurmond, WV, to milepost 12.0 at Mt. Hope, WV, a distance of 
approximately 12 miles.\1\
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    \1\ Prior to this transaction, the Loup Creek Branch was leased 
and operated by R.J. Corman Railroad Company/Bardstown Lines (RJCR). 
RJCP, Railroad Property and RJCR are commonly controlled by Richard 
J. Corman (Corman).
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    The transaction was scheduled to be consummated on or shortly after 
September 1, 2005, the effective date of the exemption.
    This transaction is within a corporate family of the type 
specifically exempted from prior approval under 49 CFR 1180.2(d)(3). 
RJCP states that the transaction will not result in adverse changes in 
service levels, significant operational changes, or a change in the 
competitive balance with carriers outside of the corporate family.
    According to RJCP, the purpose of the transaction is to substitute 
one Corman affiliate for another as the leasee and operator of the 
line, which will address certain tax and financing considerations 
within the Corman family of companies, and will not result in any 
changes in rail service or operations.
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its obligation to protect the 
interests of its employees. Section 11326(c), however, does not provide 
for labor protection for transactions under sections 11324 and 11325 
that involve only Class III rail carriers. Accordingly, the Board may 
not impose labor protective conditions here because all of the carriers 
involved are Class III carriers.
    If the notice contains false or misleading information, the 
exemption is void ab initio. Petitions to revoke the exemption under 49 
U.S.C. 10502(d) may be filed at any time. The filing of a petition to 
revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34744, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, one 
copy of each pleading must be served on Ronald A. Lane, Fletcher & 
Sippel LLC, 29 North Wacker Drive, Suite 920, Chicago, IL 60606-2832.
    Board decisions and notices are available on our Web site at http:/
/www.stb.dot.gov.

    Decided: September 19, 2005.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 05-19024 Filed 9-22-05; 8:45 am]
BILLING CODE 4915-01-P