§10781. Investigation and report by Interstate Commerce Commission

(a) The Interstate Commerce Commission shall investigate, establish, and report the value of all property owned or used by each carrier providing transportation subject to its jurisdiction under subchapter I of chapter 105 of this title, except a street, suburban, or interurban electric rail carrier not operated as a part of a general railroad system of transportation. However, the Commission may investigate, establish, and report the value of property owned or used by such an electric rail carrier when the Commission decides that action is desirable in the public interest. When the Commission makes an investigation required to be made under this section, it must-

(1) inventory and list the property of that carrier in detail;

(2) indicate the value established under section 10782 of this title for that property; and

(3) classify the physical property under classifications that conform, as nearly as practicable, to the classification of expenditures prescribed by the Commission for railroads and equipment.

(b) Except as provided in subsection (a) of this section, the Commission may prescribe-

(1) the procedure to be followed when conducting an investigation under this subchapter;

(2) the form in which to submit the results of the valuation; and

(3) the classification of the elements that make up the established value.

The report for each investigation conducted under this subchapter shall indicate the value of the property of each common carrier as a whole and separately identify the value of its property in each State and territory and possession of the United States in which the property is located.

( Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1398 .)

In subsection (a), the word "establish" is substituted for "ascertain" as being more appropriate. The word "each" is substituted for "every" for clarity. The words "providing transportation subject to its jurisdiction under subchapter I of chapter 105 of this title" are substituted for "subject to the provisions of this chapter" to conform to the revised title. The words "rail carrier" are substituted for "railway" for consistency. The words "in its discretion" are omitted as surplus. The words "subject to the provisions of this chapter" in 49:19a(a) (1st sentence 2d clause) are omitted as unnecessary in view of the restatement of that section. The word "decides" is substituted for "in its judgment" for consistency. The words "When the Commission makes an investigation required to be made under this section" are substituted for "subject to the exception hereinbefore provided for in the case of electric railways" for clarity. The word "indicate" is substituted for "show" for clarity. The words "value established under section 10782 of this title" are substituted for "value . . . as hereinbefore provided" as being more precise.

In subsection (b), the cross reference to subsection (a) is substituted for "herein otherwise provided" for clarity. The words "Commission may" are substituted for "the Commission shall have the power to" for clarity. The words "method of" are omitted as surplus. The words "when conducting" are substituted for "in the conduct of the" to reflect the continued applicability of 49:19a. The words "to submit" are substituted for "shall be submitted" for clarity. The word "established" is substituted for "ascertained" for consistency. The words "The report for" are inserted for clarity. The words "territory and possession" are substituted for "Territories" for consistency. The words "classified and in detail as herein required" are omitted as surplus.

Section Referred to in Other Sections

This section is referred to in section 10782 of this title.