§10712. Inflation-based rate increases

(a) The Commission may, on a quarterly basis and consistent with the rail transportation policy set forth in section 10101a of this title, prescribe a percentage rate increase or rate index for rail carriers in order to compensate for inflationary cost increases. Such percentage rate increase or rate index may be applicable on an industry-wide, territory-wide, or carrier-by-carrier basis.

(b) Within 60 days after the date the Commission prescribes a percentage rate increase or rate index under subsection (a) of this section, each rail carrier or group of rail carriers shall notify the Commission of any rate or group of rates which such carrier or carriers intend to be excluded from the application of such percentage rate increase or rate index.

(c) For purposes of this section, a percentage rate index may permit rate increases within a specified range to allow carriers to recover a total revenue increase specified by the Commission as necessary to compensate for inflationary cost increases.

(Added Pub. L. 96–448, title II, §206(a), Oct. 14, 1980, 94 Stat. 1906 .)

Effective Date

Section effective Jan. 1, 1981, see section 710(b) of Pub. L. 96–448, set out as an Effective Date of 1980 Amendment note under section 10101 of this title.

Section Referred to in Other Sections

This section is referred to in sections 10707a, 11501 of this title.