Title 45, RailroadsRelease 119-102
§1016 Temporary Rail Banking
Title 45 › CHAPTER 19 — ROCK ISLAND RAILROAD EMPLOYEE ASSISTANCE › § 1016
Summary
For the 180-day period starting May 30, 1980, any Rock Island Railroad track or facility that the Commission or the bankruptcy court has approved for abandonment cannot be torn up, scrapped, sold, or otherwise disposed of without the Secretary’s OK. The Secretary must approve Rock Island’s request unless a rail carrier, shipper, State, or other interested party has put in writing that they want to buy, lease, or fix up the line to provide rail service and it is likely the deal will actually happen.
Full Legal Text
Title 45, §1016
Railroads, Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
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. 104–88, to Surface Transportation Board effective Jan. 1, 1996, by section 1302 of Title 49, Transportation, and section 101 of Pub. L. 104–88, 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. 104–88, set out as a note under section 1301 of Title 49.
Reference
Citations & Metadata
Citation
45 U.S.C. § 1016
Title 45, Railroads
Last Updated
Aug 21, 2026
Release point: 119-102