Notice of Rail Energy Transportation Advisory Committee Meeting
Notice is hereby given of a meeting of the Rail Energy Transportation Advisory Committee (RETAC), pursuant to the Federal Advisory Committee Act.
Demurrage Billing Requirements
The Surface Transportation Board (STB or Board) adopts a final rule that requires Class I carriers to include certain minimum information on or with demurrage invoices and provide machine-readable access to the minimum information.
Montana Rail Link, Inc.-Petition for Rulemaking-Classification of Carriers
The Surface Transportation Board (STB or Board) is adopting a final rule amending the thresholds for classifying rail carriers.
Semiannual Regulatory Agenda
The Chairman of the Surface Transportation Board is publishing the Regulatory Flexibility Agenda for fall 2020.
CSX Corporation and CSX Transportation, Inc., et al.-Control and Merger-Pan Am Systems, Inc., Pan Am Railways, Inc., Boston and Maine Corporation, Maine Central Railroad Company, Northern Railroad, Pan Am Southern LLC, Portland Terminal Company, Springfield Terminal Railway Company, Stony Brook Railroad Company, and Vermont & Massachusetts Railroad Company
The Surface Transportation Board (Board) \1\ has reviewed the submission filed February 25, 2021, by CSX Corporation (CSXC), CSX Transportation Inc. (CSXT),\2\ 747 Merger Sub 2, Inc. (747 Merger Sub 2), Pan Am Systems, Inc. (Systems), Pan Am Railways, Inc. (PAR), Boston and Maine Corporation (Boston & Maine), Maine Central Railroad Company (Maine Central), Northern Railroad (Northern), Portland Terminal Company (Portland Terminal), Springfield Terminal Railway Company (Springfield Terminal), Stony Brook Railroad Company (Stony Brook), and Vermont & Massachusetts Railroad Company (V&M) (collectively, Applicants). The submission is styled as an application for a ``minor'' transaction seeking Board approval for: (1) CSXC, CSXT, and 747 Merger Sub 2 to control the seven railroads controlled by Systems and PAR,\3\ and (2) CSXT to merge six of the seven railroads into CSXT. This proposal is referred to as the ``Proposed Transaction.''
Quarterly Rail Cost Adjustment Factor
The Board approves the second quarter 2021 Rail Cost Adjustment Factor (RCAF) and cost index filed by the Association of American Railroads. The second quarter 2021 RCAF (Unadjusted) is 1.059. The second quarter 2021 RCAF (Adjusted) is 0.441. The second quarter 2021 RCAF-5 is 0.417.
Railroad Cost Recovery Procedures-Productivity Adjustment
In a decision served on February 19, 2021, the Board proposed to adopt 1.008 (0.8% per year) as the measure of average (geometric mean) change in railroad productivity for the 2015-2019 (five-year) period. The Board's February 19, 2021 decision stated that comments may be filed addressing any perceived data and computational errors in the Board's calculation. The decision also stated that, unless a further order is used postponing the effective date, the decision will take effect on March 11, 2021.
Railroad Cost of Capital-2020
The Board is instituting a proceeding to determine the railroad industry's cost of capital for 2020. The decision solicits comments on the following issues: The railroads' 2020 current cost of debt capital; the railroads' 2020 current cost of preferred equity capital (if any); the railroads' 2020 cost of common equity capital; and the 2020 capital structure mix of the railroad industry on a market value basis.
Petition for Rulemaking-Railroad Consolidation Procedures-Exemption for Emergency Temporary Trackage Rights
The Board institutes a rulemaking proceeding to consider a proposal by the Association of American Railroads to establish a new emergency temporary trackage rights class exemption.
Civil Monetary Penalties-2021 Adjustment
The Surface Transportation Board (Board) is issuing a final rule to implement the annual inflationary adjustment to its civil monetary penalties, pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
Notice of Railroad-Shipper Transportation Advisory Council Vacancies; Solicitation of Nominations
The Board hereby gives notice of vacancies on RSTAC for two small railroad representatives. The Board seeks suggestions for candidates to fill these vacancies.
Joint Petition For Rulemaking-Annual Revenue Adequacy Determinations
The Surface Transportation Board (Board or STB) opens a rulemaking proceeding to consider a petition by several Class I railroads to change the Board's procedures for annually determining whether Class I rail carriers are revenue adequate. The Board seeks public comment on the petition and several specific related issues.
Filing Fee Waiver Requests
The Surface Transportation Board (Board or STB) clarifies and updates its rules regarding requests to waive or reduce certain filing fees.
Quarterly Rail Cost Adjustment Factor
The Board has approved the first quarter 2021 Rail Cost Adjustment Factor (RCAF) and cost index filed by the Association of American Railroads. The first quarter 2021 RCAF (Unadjusted) is 1.040. The first quarter 2021 RCAF (Adjusted) is 0.434. The first quarter 2021 RCAF-5 is 0.410.