During the 180-day period beginning on , 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—
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
there is a reasonable expectation that such purchase transaction will be consummated.
Pub. L. 96–254, title I, § 12194 Stat. 409(, , .)
Statutory Notes and Related Subsidiaries
Abolition of Interstate Commerce Commission and Transfer of Functions
Pub. L. 104–88section 1302 of Title 49section 101 of Pub. L. 104–88section 1301 of Title 49section 205 of Pub. L. 104–88section 1301 of Title 49Interstate Commerce Commission abolished and functions of Commission transferred, except as otherwise provided in , to Surface Transportation Board effective , by , Transportation, and , set out as a note under . 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 , set out as a note under .