Page:United States Statutes at Large Volume 109 Part 1.djvu/841

 PUBLIC LAW 104-88—DEC. 29, 1995 109 STAT. 825 "(B) identify each railroad line for which the rail carrier plans to file an application to abandon or discontinue under subsection (a) of this section. "(d) A rail carrier providing transportation subject to the jurisdiction of the Board under this part may— "(1) abandon any part of its railroad lines; or "(2) discontinue the operation of all rail transportation over any part of its railroad lines; only if the Board finds that the present or future public convenience and necessity require or permit the abandonment or discontinuance. In making the finding, the Board shall consider whether the abandonment or discontinuance will have a serious, adverse impact on rural and community development. "(e) Subject to this section and sections 10904 and 10905 of this title, if the Board— "(1) finds public convenience and necessity, it shall— "(A) approve the application as filed; or "(B) approve the application with modifications and require compliance with conditions that the Board finds are required by public convenience and necessity; or "(2) fails to find public convenience and necessity, it shall deny the application. and discontinuance "(a) In this section— "(1) the term 'avoidable cost' means all expenses that would be incurred by a rail carrier in providing transportation that would not be incurred if the railroad line over which the transportation was provided were abandoned or if the transportation were discontinued. Expenses include cash inflows foregone and cash outflows incurred by the rail carrier as a result of not abandoning or discontinuing the transportation. Cash inflows foregone and cash outflows incurred include— "(A) working capital and required capital expenditure; "(B) expenditures to eliminate deferred maintenance; "(C) the current cost of freight cars, locomotives, and other equipment; and "(D) the foregone tax benefits from not retiring properties from rail service and other effects of applicable Federal and State income taxes; and "(2) the term 'reasonable return' means— "(A) if a rail carrier is not in reorganization, the cost of capital to the rail carrier, as determined by the Board; and "(B) if a rail carrier is in reorganization, the mean cost of capital of rail carriers not in reorganization, as determined by the Board. "(b) Any rail carrier which has filed an application for abandonment or discontinuance shall provide promptly to a party considering an offer of financial assistance and shall provide concurrently to the Board— "(1) an estimate of the annual subsidy and minimum purchase price required to keep the line or a portion of the line in operation;
 * § 10904. Offers of financial assistance to avoid abandonment

�