§11161. Railroad Accounting Principles Board

(a)(1) There is established a Railroad Accounting Principles Board which shall be within and responsible to the legislative branch of the Federal Government.

(2) The Board shall be composed of the Comptroller General of the United States, who shall serve as chairman, and six members to be appointed by the Comptroller General.

(3) The Comptroller General shall appoint members of the Board from among persons who are well qualified for such position by virtue of experience in or knowledge of rate regulation, accounting, or cost determinations. Of the members of the Board so appointed-

(A) one shall be from the accounting profession;

(B) one shall be from the railroad industry;

(C) one shall be a representative of major rail shippers;

(D) one shall be from the Interstate Commerce Commission;

(E) one shall be a representative of small rail shippers; and

(F) one shall be from the economics profession.

(4) The term of office of each appointed member of the Board shall be three years, except that any member appointed to fill a vacancy in the Board shall serve for the remainder of the term for which his predecessor was appointed.

(5) The Board shall not act in the absence of a quorum, which shall consist of three members.

(b) Each appointed member of the Board shall receive compensation at a rate equal to 1/260 of the rate prescribed for level IV of the Executive Schedule, under section 5315 of title 5, for each day (including traveltime) in which he is engaged in the actual performance of duties vested in the Board.

(c)(1) The Board may utilize personnel from the Federal Government, with the consent of the head of the appropriate Federal department or agency, or appoint individuals from private life, to serve on advisory committees or to provide the staff services necessary to assist the Board in carrying out its functions and responsibilities under this subchapter.

(2) Individuals appointed by the Board under this subsection may be appointed without regard to the provisions of title 5 governing appointments in the competitive service, and may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title, relating to classification and General Schedule pay rates.

(d) All Federal departments and agencies are authorized to cooperate with the Board and to furnish information, appropriate personnel (with or without reimbursement), and such financial and other assistance as may be agreed upon by the Board and the Federal department or agency involved.

(e) Members and employees of the Board and all other individuals appointed under this subsection having or having had access to information in the possession of the Board shall be subject to the provisions of section 1905 of title 18.

(f) The Board shall cease to exist three years after the effective date of the Staggers Rail Act of 1980.

(Added Pub. L. 96–448, title III, §302(a), Oct. 14, 1980, 94 Stat. 1934 .)

References in Text

Provisions of title 5 governing appointments in the competitive service, referred to in subsec. (c)(2), are classified generally to section 3301 et seq. of Title 5, Government Organization and Employees.

The effective date of the Staggers Rail Act of 1980, referred to in subsec. (f), probably means Oct. 1, 1980, the general effective date of Pub. L. 96–448. See section 710 of Pub. L. 96–448, set out as an Effective Date of 1980 Amendment note under section 10101 of this title.

Effective Date

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