Page:United States Statutes at Large Volume 94 Part 2.djvu/657

 PUBLIC LAW 96-448—OCT. 14, 1980

94 STAT. 1935

"SUBCHAPTER IV—RAILROAD COST ACCOUNTING Establishment. "§11161. Railroad Accounting Principles Board 49 USC 11161. "(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 Membership. 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 compensa- Compensation. tion at a rate equal to Vaeo 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 Govern- Advisory ment, with the consent of the head of the appropriate Federal committees; department or agency, or appoint individuals from private life, to staff services. serve on advisory committees or to provide the staff services necessary to assist the Board in carrsdng 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 5 USC 5101 et seq., 5331. 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 Confidential appointed under this subsection having or having had access to information. 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 Termination. Ante, p. 1895. date of the Staggers Rail Act of 1980. 49 USC 11162. "§11162. Cost accounting principles "(a) Within two years after the effective date of the Staggers Rail Act of 1980, the Railroad Accounting Principles Board shall establish, Ante, p. 1895 for rail carriers providing transportation subject to the jurisdiction of

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