Page:United States Statutes at Large Volume 48 Part 1.djvu/246

 220 73d CONGRESS. SESS. I. CH. 91. JUNE 16, 1933 . "Carrier ." company, or corporation, and the term `carrier' means a carrier by rai lroad sub ject to t his Act ." graphsenembered a- SEC . 203 . Such section 5 is further amended by renumbering as Vol . 42,p .27 . paragraph (18) the paragraph added by the Act entitled "An Act U .S .C ., p.1655. to amend section 407 of the Transportation Act of 1920 ", a ppro ved June 10, 1921, and by renumbering the remaining three paragraphs as paragraphs (19 ), (2 0), and (21), respectively. Act Interstate Commerce SEC . 204 . The provisions of the Interstate Commerce Act, as Provisions, as amended, and of all other applicable Federal statutes, as in force amended, to remain in force . prior to the enactment of this title, shall remain in force, as though this title had not been enacted, with res pect to the acqui sition by any carr ier, p rior t o the enactm ent of this t itle, of the contr ol of any other carrier or carriers . amend ed 41, p. 41 ,, SEC . 205 . Section 15a of the Interstate Commerce Act, as amended U.S.C.,p.1663. (U.S .C ., title 49, sec . 15a), is amended to read as follows : "Rates" defined . "SEC. 15a. (1) When used in this section, the term `rates' means rates, fares, and charges, and all classifications, regulations, and prac- tices relating thereto. Fair return for car- "(2) In the exercise of its power to prescribe just and reasonable riers ; factors in deter . minin g, rates the Commission shall give due consideration, among other fac- tors, to the effect of rates on the movement of traffic ; to the need, in the public interest, of adequate and efficient railway transportation service at the lowest cost consistent with the furnishing of such service ; and to the need of revenues sufficient to enable the carriers, under honest, economical, and efficient management, to provide such Sums heretofore paid service . " i .y carriers to commix- SEC. 206 . (a) All moneys which were recoverable by and payable ,,ion under section 15a (6) t• be returned to the Interstate Commerce Commission, under paragraph (6) of t.sc,p.1663 section 15a of the Interstate Commerce Act, as in force prior to the enactment of this title, shall cease to be so recoverable and payable ; and all proceedings pending for the recovery of any such moneys Liquidation of te n- shall be terminated. The general railroad contingent fund estab- eral railroad contingent fund. lished under such section shall be liquidated and the Secretary of the Treas ury sh all di stribu te the money s in su ch fun d amon g the carrie rs which have made payments under such section, so that each such car- rier sha ll re ceive an amoun t bea ring the same ratio to the t otal amount in such fund that the total of amounts paid under such section by such carrier bears to the total of amounts paid under such section by all carriers ; except that if the total amount in such Distr ibut ion among fund exceeds the total of amounts paid under such section by all earners. carriers such excess shall be distributed among such carriers u on the basis of the average rate of earnings (as determined by the Sec- retary of the Treasury) on the investment of the moneys in such fund and di fferen ces in dates of pa yments by suc h carr iers. Tax l iabil ities for pe- (b) The income, war-profits, and excess-profits tax liabilities for rinds after February 28, 192 0 ; computation any taxable period ending after February 28, 1920, of the carriers and corporations whose income, war-profits, or excess-profits tax liabilities were affected by section 15a of the Interstate Commerce Act, as in force prior to the enactment of this Act, shall be com- sums excl uded from puted as if such s ection had n ever b een ena cted, except that, in th e g ins income. case of carriers or corporations which have made payments under paragraph (6) of such section, an amount equal to such payments shall be excluded from gross income for the taxable periods with cl Distributio ns ,n- respect to which they were made. All distributions made to car- riers in accordance with subdivision (a) of this section shall be included in the gross income of the carriers for the taxable period R estri ctio n on affec t in which this Act is enacted. The provisions of this subdivision of pro .imions. shall no t be held to affec t (1) the statute s of limi tations w ith respe ct