§11142. Uniform accounting system

The Interstate Commerce Commission may prescribe a uniform accounting system for classes of carriers providing, and brokers for, transportation subject to the jurisdiction of the Commission under subchapters II, III, and IV of chapter 105 of this title.

( Pub. L. 95–473, Oct. 17, 1978, 92 Stat. 1425 ; Pub. L. 96–448, title III, §301, Oct. 14, 1980, 94 Stat. 1934 .)

In subsection (a), the words "not later than June 30, 1977," and the last 2 sentences of 49:20(3)(a) are omitted as executed. The words "shall prescribe" are substituted for "shall, . . . issue regulations and procedures prescribing" for clarity. The last sentence is a restatement of the relevant provisions of 49:304(a) (1), (2), and (4), 49:913(c), and 1012(c). The words "in its discretion, for purposes of administration of the provisions of this chapter" in 49:1012(c), and "in its discretion, for the purpose of enabling it the better to carry out the purposes of this chapter" in 49:913(c), are omitted as surplus. The words "motor common carrier", "motor contract carrier", "water carriers", and "freight forwarders" are omitted as unnecessary since the word "carrier" encompasses all of them in the subtitle. The words "period of time within which they shall have such uniform system of accounts," are omitted as executed. The words "and the manner in which such accounts shall be kept" are omitted as surplus. The words "uniform accounting system" are substituted for "uniform system of accounts" for clarity. The words "The accounting system established pursuant to this paragraph" in 49:20(3)(c) are omitted from subsection (a) as surplus. The words "notwithstanding any other provision of this section" are omitted as unnecessary.

In subsection (b)(1), the words "To obtain the most accurate cost and revenue information about" are substituted for "In order to assure that the most accurate cost and revenue data can be obtained with respect to" for clarity. The words "fair and reasonable" are omitted as unnecessary in view of section 10701 of the revised title.

In subsection (b)(2), the words "must include information considered appropriate for disclosure" are substituted for "shall include any disclosure considered appropriate" for clarity. The words "notwithstanding any other provision of this section" are omitted as surplus in view of the phrase "to the extent possible". The words "attempt" and "otherwise" are omitted as surplus.

In subsection (b)(3), the words "In order that the accounting system established pursuant to this paragraph continue" are omitted as surplus in view of the realignment of 49:20(3)(d). The words "every 5th year after 1977" are inserted in view of 49:20(3)(a) for clarity.

Amendments

1980-Pub. L. 96–448, in generally revising section, struck out provisions authorizing the Commission to prescribe, for rail carriers, a uniform cost and revenue accounting and reporting system, to identify and define for each facet of rail transportation, in order to obtain the most accurate cost and revenue information, operating and nonoperating revenue accounts, direct cost accounts for determining fixed and variable costs of materials, labor, and overhead components of operating expenses and the assigning of costs, and indirect cost accounts for determining common, joint, and constant costs, to require reports including information considered appropriate for disclosure under accepted accounting principles or the requirements of the Commission or the Securities and Exchange Commission, to require information be disclosed only for essential regulatory purposes, and to review rail accounting systems periodically, but at least once every 5th year after 1977, for possible revision. See subchapter IV of this chapter.

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–448 effective Oct. 1, 1980, see section 710(a) of Pub. L. 96–448, set out as a note under section 10101 of this title.

Section Referred to in Other Sections

This section is referred to in section 10341 of this title.