Page:United States Statutes at Large Volume 90 Part 1.djvu/113

 PUBLIC LAW 94-210—FEB. 5, 1976 mission shall conclude any evidentiary proceedings not more than 24 months following the date upon which notice of the application was published in the Federal Kegister; and "(vi) issue a final decision within 180 days following the date upon which the evidentiary proceeding is concluded. If the Commission fails to issiie a decision which is final within the meaning of section 17 within such 180-day period, it shall notify the Congress in writing of such failure and the reasons therefor. If the Commission determines that the due and timely execution of its functions under this paragraph so requires, or that an application brought under this paragraph is of major transportation importance, it may order that the case be referred directly (without an initial decision by a division, individiuil Commissioner, board, or administrative law judge) to the full Commission for a decision which is final within the meaning of section 17. "(h) The Secretary of Transportation may propose any modification of any transaction governed by this paragraph which involves a carrier by railroad. The Secretary shall have standing to appear before the Comipission in support of any such proposed modification.".

90 STAT. 63

Congressional notification.

EXPEDITED RAIUIOAD MERGER PROCEDURE

SEC. 403. (a) Section 5 of the Interstate Commerce Act (49 U.S.C. 5) is amended by redesignating paragraphs (3) through (16) thereof as paragraphs (4) through (17) thereof, respectively, and by inserting therein a new paragraph (3), as follows: "(3)(a) If a merger, consolidation, unification or coordination project (as described in section 5(c) of the Department of Transportation Act), joint use of tracks or other facilities, or acquisition or sale of assets, which involves any common carrier by railroad subject to this part, is proposed by an eligible party in accordance with subdivision (b) during the period beginning on the date of enactment of this paragraph and ending on December 31, 1981, the party seeking authority for the execution or implementation of such transaction may utilize the procedure set forth in this paragraph or in paragraph (2). "(b) Any transaction described in subdivision (a) may be proposed to the Commission by— "(i) the Secretary of Transportation (hereafter in this paragraph referred to as the 'Secretary'), with the consent of the common carriers by railroad subject to this part which are parties to such transaction; or "(ii) any such carrier which, not less than 6 months prior to such submission to the Commission, submitted such proposed transaction to the Secretary for evaluation pursuant to subdivision (f). "(c) Whenever a transaction described in subdivision (a) is pro- Application, posed under this paragraph, the proposing party shall submit an application for approval thereof to the Commission, in accordance with such requirements as to form, content, and documentation as the Commission may prescribe. Within 10 days after the date of receipt Notice. of such an application, the Commission shall send a notice of such proposed transaction to— " (i) the Governor of each State which may be affected, directly or indirectly, by such transaction if it is executed or implemented; " (ii) the Attorney General; " (iii) the Secretary of Labor; and "(iv) the Secretary (except where the Secretary is the proposing party).

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