§10784. Revision of property valuations

(a) When the Interstate Commerce Commission completes an initial valuation of property under this subchapter, it shall keep itself informed of new construction, changes in condition, quantity, use, and classification of property on which an initial valuation was made and the cost of all improvements to, and changes in investment, in that property. The Commission may keep itself informed of current changes in costs and values of railroad property to carry out this section. When necessary, the Commission may correct, revise, and supplement an inventory or valuation of property it has made.

(b) The Commission may order a carrier providing transportation subject to the jurisdiction of the Commission under subchapter I of chapter 105 of this title to give it reports and information needed to carry out this section.

( Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1400 ; Pub. L. 96–258, §1(8), June 3, 1980, 94 Stat. 426 .)

In subsection (a), the words "When the . . . Commission completes an initial valuation of property under this subchapter" are substituted for "Upon completion of the original valuations herein provided for" for clarity. The word "initial" is substituted for "original" as being more appropriate. The words "to carry out this section" as substituted for "in order that it may have available at all times the information deemed by it to be necessary to enable it to" in view of the restatement of 49:19a(f).

In subsection (b), the words "To enable . . . the provisions of" are omitted as surplus. The words "this section" is substituted for "paragraph (f) of this section" in view of the restatement. The word "needed" is added for clarity.

Pub. L. 96–258

This amends section 10784(a) by making a technical change to conform to the source provision to make it clear that the Commission has the discretionary authority to correct, revise, and supplement inventories and valuations.

Amendments

1980-Subsec. (a). Pub. L. 96–258 substituted "keep" for "thereafter correct, revise, and supplement that valuation, including previous inventories and classifications, by keeping" and inserted last sentence relating to the Commission's authority to correct, revise, and supplement an inventory or valuation of property.

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–258 effective Oct. 17, 1978, see section 3(d) of Pub. L. 96–258, set out as a note under section 10525 of this title.