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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 45 U.S.C. § 1016 Temporary rail banking us united_states_code code_section 45 RAILROADS 19 ROCK ISLAND RAILROAD EMPLOYEE ASSISTANCE 1016 45 U.S.C. § 1016 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc45@119-100.zip /us/usc/t45/s1016 data/legal/raw/us/code/title-45/usc45.xml 1795c2a804bbe2cbf9237163c1357919a3e99f8e3e0ce8d762d70bfe7dc3e3aa 6ff04cb352e22f8a18f24c94e9adb8036909cf2a75f41489d768a5934fb9667c baa01d0fef2d2b5623f655b8b265e8a94edee661520ee0a0779ecbaef74b1857 2026-07-04 official
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45 U.S.C. § 1016 - Temporary rail banking

Text

During the 180-day period beginning on May 30, 1980, no rail line or facility of the Rock Island Railroad which has been approved for abandonment by the Commission or the bankruptcy court may be downgraded, scrapped, or otherwise disposed of without the approval of the Secretary under this section. In no case before abandonment has been approved and before the 180-day period has elapsed shall the Secretary approve a disposition of such portion of the rail line or related facility to any carrier or other entity not engaged in providing railroad services or not formed for the purpose of providing railroad services. The Secretary, upon application by the Rock Island Railroad, shall grant such approval unless he finds that—

(1) a rail carrier, shipper, State, or other interested party has expressed in writing an interest in purchasing, leasing or rehabilitating the particular rail line or facility for purposes of providing rail service; and

(2) there is a reasonable expectation that such purchase transaction will be consummated.

(Pub. L. 96254, title I, § 121, May 30, 1980, 94 Stat. 409.)

Notes

Statutory Notes and Related Subsidiaries

Abolition of Interstate Commerce Commission and Transfer of Functions Interstate Commerce Commission abolished and functions of Commission transferred, except as otherwise provided in Pub. L. 10488, to Surface Transportation Board effective Jan. 1, 1996, by section 1302 of Title 49, Transportation, and section 101 of Pub. L. 10488, set out as a note under section 1301 of Title 49. References to Interstate Commerce Commission deemed to refer to Surface Transportation Board, a member or employee of the Board, or Secretary of Transportation, as appropriate, see section 205 of Pub. L. 10488, set out as a note under section 1301 of Title 49.