§11166. Accounting and cost reporting

(a) To obtain expense and revenue information for regulatory purposes, the Interstate Commerce Commission may promulgate reasonable rules for rail carriers providing transportation subject to the jurisdiction of the Commission under subchapter I of chapter 105 of this title, prescribing expense and revenue accounting and reporting requirements consistent with generally accepted accounting principles uniformly applied to such carriers. Such requirements shall be cost effective and compatible with and not duplicative of the managerial and responsibility accounting requirements of those carriers. To the extent such rules are required solely to provide expense and revenue information necessary for determining railroad costs in regulatory proceedings under this subtitle, such rules shall be promulgated in accordance with the cost accounting principles established by the Railroad Accounting Principles Board under section 11162 of this title.

(b) Any reports required by the rules established by the Commission under this section shall include only information considered necessary for disclosure under the cost accounting principles established by the Board or under generally accepted accounting principles or the requirements of the Securities and Exchange Commission.

(Added Pub. L. 96–448, title III, §302(a), Oct. 14, 1980, 94 Stat. 1937 ; amended Pub. L. 103–272, §4(j)(32), July 5, 1994, 108 Stat. 1370 .)

Amendments

1994-Subsec. (a). Pub. L. 103–272 substituted "under this subtitle" for "pursuant to this title".