Surface Transportation Board – Federal Register Recent Federal Regulation Documents
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Methodology for Determining the Railroad Industry's Cost of Capital
The Board proposes to incorporate an additional model to complement its use of the Morningstar/Ibbotson Multi-Stage Discounted Cash Flow Model (MSDCF) and the Capital Asset Pricing Model (CAPM) in determining the cost-of-equity component of the cost of capital.
Demurrage Billing Requirements
The Surface Transportation Board (STB or Board) proposes changes to the Board's regulations governing demurrage liability. Specifically, the Board proposes certain requirements regarding Class I carriers' demurrage invoices, as well as a requirement that a Class I carrier directly bill the shipper if the shipper and warehouseman agree to that arrangement and have so notified the rail carrier.
Exclusion of Demurrage Regulation From Certain Class Exemptions
The Surface Transportation Board (STB or Board) proposes to clarify its regulations governing exemptions for certain miscellaneous commodities and boxcar transportation so that those regulations unambiguously state that demurrage continues to be subject to Board regulation. The Board also proposes to revoke, in part, the exemption that currently covers certain agricultural commodities so that the exemption would not apply to the regulation of demurrage, thereby making the agricultural commodities exemption consistent with similar exemptions covering non-intermodal transportation.
Policy Statement on Demurrage and Accessorial Rules and Charges
The Surface Transportation Board (STB or Board) is issuing this proposed policy statement to provide the public with information on principles the Board would consider in evaluating the reasonableness of demurrage and accessorial rules and charges. The Board seeks public comment on this proposed policy statement, and may revise it, as appropriate, after consideration of the comments received.
Petition for Rulemaking; Railroad Performance Data Reporting
The Surface Transportation Board (STB or Board) grants in part a petition filed by the American Chemistry Council (ACC) to amend the Board's railroad performance data reporting regulations. Specifically, the Board proposes to modify its regulations to include chemical and plastics traffic as a distinct reporting category for the ``cars-held'' metric.
Revisions to the Board's Methodology for Determining the Railroad Industry's Cost of Capital
The Board proposes to incorporate an additional model to complement its use of the Morningstar/Ibbotson Multi-Stage Discounted Cash Flow Model (MSDCF) and the Capital Asset Pricing Model (CAPM) in determining the cost-of-equity component of the cost of capital.
Notice of Railroad-Shipper Transportation Advisory Council Vacancies
The Board hereby gives notice of upcoming vacancies on RSTAC for two large shipper representatives. The Board seeks suggestions for candidates to fill these vacancies.
National Express Transit Corporation-Acquisition of Control-Fox Bus Lines, Inc.
On August 30, 2019, National Express Transit Corporation (National Express), an intrastate passenger motor carrier, filed an application for National Express to acquire control of Fox Bus Lines, Inc. (Fox), an interstate passenger motor carrier, from Fox's shareholders, Brian A. Fox, Stephen J. Fox, Catherine Fox, and William L. Fox, Jr. (collectively, Sellers). The Board is tentatively approving and authorizing the transaction, and, if no opposing comments are timely filed, this notice will be the final Board action. Persons wishing to oppose the application must follow the rules.
Renewal of Rail Energy Transportation Advisory Committee
In accordance with the Federal Advisory Committee Act, notice is hereby given that the Surface Transportation Board (Board) intends to renew the charter of the Rail Energy Transportation Advisory Committee (RETAC).
Quarterly Rail Cost Adjustment Factor
The Board approves the fourth quarter 2019 Rail Cost Adjustment Factor (RCAF) and cost index filed by the Association of American Railroads. The fourth quarter 2019 RCAF (Unadjusted) is 1.075. The fourth quarter 2019 RCAF (Adjusted) is 0.454. The fourth quarter 2019 RCAF-5 is 0.427.
Renewal of National Grain Car Council
In accordance with the Federal Advisory Committee Act, notice is hereby given that the Surface Transportation Board (Board) intends to renew the charter of the National Grain Car Council (NGCC).
Arkansas-Oklahoma Railroad Company-Acquisition and Operation Exemption-State of Oklahoma
The Board is granting an exemption under 49 U.S.C. 10502 from the prior approval requirements of 49 U.S.C. 10902 for Arkansas- Oklahoma Railroad Company (AOK), a Class III carrier, to acquire from the State of Oklahoma and operate approximately 69.60 miles of rail line extending from milepost 295.36 in Howe, Okla., to milepost 364.96 in McAlester, Okla. (the Line).\1\ Because AOK is a Class III rail carrier, the acquisition and operation exemption is not subject to labor protective conditions.
Final Offer Rate Review; Expanding Access to Rate Relief
The Surface Transportation Board (STB or Board) proposes a new procedure for challenging the reasonableness of railroad rates in smaller cases. In this procedure, the Board would decide a case by selecting either the complainant's or the defendant's final offer, subject to an expedited procedural schedule that adheres to firm deadlines.
Market Dominance Streamlined Approach
The Surface Transportation Board (STB or Board) proposes a streamlined approach for pleading market dominance in rate reasonableness proceedings. The Board expects that this streamlined approach would reduce burdens on parties, expedite proceedings, and make the Board's rate relief procedures more accessible, especially for complainants with smaller cases.
Hearing on Revenue Adequacy; Railroad Revenue Adequacy
The Surface Transportation Board (Board) will hold a public hearing on December 12, 2019, on revenue adequacy issues raised in the report issued by the Board's Rate Reform Task Force (RRTF). The hearing will be held in the James E. Webb Memorial Auditorium of the National Aeronautics and Space Administration (NASA), located at 300 E Street SW, Washington, DC. All interested persons are invited to appear.\1\
60-Day Notice of Intent To Seek Extension of Approval: Class I Railroad Annual Report
As required by the Paperwork Reduction Act of 1995 (PRA), the Surface Transportation Board (STB or Board) gives notice of its intent to seek approval from the Office of Management and Budget (OMB) for an extension of the collection of Class I Railroad Annual Reports, described below.
Railroad Revenue Adequacy-2018 Determination
On September 5, 2019, the Board served a decision announcing the 2018 revenue adequacy determinations for the Nation's Class I railroads. Three carriers (CSX Transportation, Inc., Soo Line Corporation, and Union Pacific Railroad Company) were found to be revenue adequate.
Notice of National Grain Car Council Meeting
Notice is hereby given of a meeting of the National Grain Car Council (NGCC), pursuant to the Federal Advisory Committee Act.
