Intercoastal Shipping Improvement Act

Summary

Intercoastal Shipping Improvement Act - Directs the Federal Maritime Commission to develop and promulgate criteria, standards, and procedures for determining what constitutes adequate revenue levels for a common carrier by water in intercoastal commerce. Defines "adequate revenue levels" as levels which are likely to be sufficient to cover total operating expenses, including depreciation and obsolescence, plus a fair, reasonable, and economic profit or return on capital employed by a common carrier by water in intercoastal commerce. Sets forth the following criteria to be considered by the Commission in determining adequate revenue levels: (1) the cost of replacing vessels and related equipment used in such commerce; (2) the degree of risk associated with the investment of capital; (3) the prevailing cost of money in capital markets; and (4) the public-interest need to assure that service continues to be provided on specified unprofitable segments of transportation by water in intercoastal commerce.

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Timeline

1. 18 March 1976

   Introduced

   Referred to Senate Committee on Commerce.

   Source: IntroReferral

2. 18 March 1976

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 18 March 1976

  Open at official source

Sponsors

• Sen. Long, Russell B. [D-LA] · D · Sponsor
• · sscm00 · Standing

Related records

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