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Understanding the Surface Transportation Board: Definition and Functions
Definition & Meaning
The Surface Transportation Board (STB) is an independent federal agency that regulates economic aspects of surface transportation in the United States, particularly focusing on railroads. Established by the Interstate Commerce Commission Termination Act of 1995, the STB succeeded the Interstate Commerce Commission and serves as a regulatory body for issues related to railroad rates, service disputes, and mergers. Its decisions are made independently, although it operates under the Department of Transportation.
Table of content
Legal Use & context
The STB plays a crucial role in the legal landscape of transportation law. It is primarily involved in:
Resolving disputes related to railroad rates and service issues.
Reviewing and approving proposed railroad mergers and acquisitions.
Overseeing rail restructuring transactions.
Legal practitioners may encounter STB regulations when dealing with transportation contracts, disputes, or compliance matters. Users can manage some related legal processes using templates available through US Legal Forms.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A small railroad company files a complaint with the STB regarding unfair pricing practices by a larger competitor. The STB investigates and issues a ruling to resolve the dispute.
Example 2: Two major railroads propose a merger. The STB reviews the merger to ensure it complies with federal regulations and does not harm competition in the industry. (hypothetical example)
Relevant laws & statutes
The primary statute governing the STB is the Interstate Commerce Commission Termination Act of 1995. This act outlines the STB's authority and responsibilities in regulating rail transportation.
Comparison with related terms
Term
Definition
Difference
Interstate Commerce Commission
The former federal agency that regulated railroads before the STB was established.
The STB succeeded the ICC and focuses on economic regulation of railroads.
Federal Railroad Administration
A federal agency responsible for enforcing rail safety regulations.
The STB focuses on economic issues, while the FRA handles safety and operational regulations.
Common misunderstandings
What to do if this term applies to you
If you are involved in a dispute regarding railroad rates or services, or if you are considering a merger in the railroad industry, you should:
Gather all relevant documentation related to your case.
Consider consulting a legal professional who specializes in transportation law.
Explore US Legal Forms for templates that may help you draft necessary documents or filings.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.