Railroad Cost Recovery Procedures-Productivity Adjustment
The Surface Transportation Board proposes to adopt 1.019 (1.9%) as the measure of average change in railroad productivity for the 2000-2004 (5-year) averaging period. This value is a decline of 1% from the current measure of 2.9% that was developed for the 1999-2003 period.
Class Exemption for Expedited Abandonment Procedure for Class II and Class III Railroads
The Surface Transportation Board (Board) has received a proposal to create a class exemption under 49 U.S.C. 10502 for Class II and Class III railroads \1\ from the prior approval requirements for abandonments under 49 U.S.C. 10903. A public hearing was held on August 31, 2004, to discuss the proposal. Before deciding whether to issue a Notice of Proposed Rulemaking (NPR), the Board seeks comments from interested persons on this proposal and possible alternatives to it, as detailed below.
Iowa Interstate Railroad, Ltd.-Sublease Exemption-CSX Transportation, Inc.
The Board grants an exemption, under 49 U.S.C. 10502, from the prior approval requirements of 49 U.S.C. 10902 for Iowa Interstate Railroad, Ltd. (IAIS), a Class II carrier, to sublease from CSX Transportation, Inc. (CSXT), and operate a line of railroad totaling approximately 31.9 miles. The rail line, presently leased and operated by CSXT extends from milepost BIF 95, in Utica, IL, to milepost BIF 126.9, in Henry, IL.
The Indiana Rail Road Company-Acquisition-Soo Line Railroad Company
The Surface Transportation Board (Board) is accepting for consideration the application filed December 15, 2005, by The Indiana Rail Road Company (INRD) and Soo Line Railroad Company (Soo). The application seeks Board approval under 49 U.S.C. 11323-26 for INRD's acquisition of (a) Soo's Latta Subdivision, a 92.3-mile railroad line extending from milepost 170.1 at Fayette, IN, to milepost 262.4 at Bedford, IN, (b) certain overhead trackage rights currently held by Soo between Chicago, IL, and Terre Haute, IN, and between Bedford, IN, and Louisville, KY, and (c) certain ancillary trackage rights. This proposal is referred to as the Transaction, and INRD and Soo are referred to collectively as applicants. The Board finds that the Transaction is a ``minor transaction'' under 49 CFR 1180.2(c), and the Board adopts a procedural schedule for consideration of the primary application and the related filings, under which the Board's final decision would be issued on April 24, 2006.