S.Amdt. 2607

1. Adds SEC. __. ARBITRATION OF CERTAIN RAIL RATE, SERVICE, AND OTHER DISPUTES at the in the amendment being amended

   Adds a section

   Inserted: SEC. __. ARBITRATION OF CERTAIN RAIL RATE, SERVICE, AND OTHER DISPUTES.

   Inserted: (a) In General.--

   Inserted: (1) Authority.--Chapter 117 of title 49, United States Code, is amended by adding after section 11707 the following new section:

   Inserted: "Sec. 11708. Arbitration of certain rail rate, service, and

   Inserted: other disputes

   Inserted: "(a) Election of Arbitration.--A dispute described in subsection (b) shall be submitted for resolution by arbitration upon the election of any party to the dispute that is not a rail carrier.

   Inserted: "(b) Covered Disputes.--(1) Except as provided in paragraph (2), subsection (a) applies to any dispute between a party described in subsection (a) and a rail carrier that--

   Inserted: "(A) arises under section 10701(c), 10701(d), 10702, 10704(a)(1), 10707, 10741, 10745, 10746, 11101(a), 11102, 11121, 11122, or 11706 of this title; and

   Inserted: "(B) involves--

   Inserted: "(i) the payment of money;

   Inserted: "(ii) a rate or charge imposed by the rail carrier; or

   Inserted: "(iii) transportation or other service by the rail carrier.

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   Inserted: "(2) Subsection (a) does not apply to a dispute if the resolution of the dispute would necessarily involve the promulgation of regulations generally applicable to all rail carriers.

   Inserted: "(c) Arbitration Procedures.--The Secretary of Transportation shall prescribe in regulations the procedures for the resolution of disputes submitted for arbitration under subsection (a). The regulations shall include the following:

   Inserted: "(1) Procedures, including time limits, for the selection of an arbitrator or panel of arbitrators for a dispute from among arbitrators listed on the roster of arbitrators established and maintained by the Secretary under subsection (d)(1).

   Inserted: "(2) Policies, requirements, and procedures for the compensation of each arbitrator for a dispute to be paid by the parties to the dispute.

   Inserted: "(3) Procedures for expedited arbitration of a dispute, including procedures for discovery authorized in the exercise of discretion by the arbitrator or panel of arbitrators.

   Inserted: "(d) Selection of Arbitrators.--(1) The Secretary of Transportation shall establish, maintain, and revise as necessary a roster of arbitrators who--

   Inserted: "(A) are experienced in transportation or economic issues within the jurisdiction of the Board or issues similar to those issues;

   Inserted: "(B) satisfy requirements for neutrality and other qualification requirements prescribed by the Secretary;

   Inserted: "(C) consent to serve as arbitrators under this section; and

   Inserted: "(D) are not officers or employees of the United States.

   Inserted: "(2) For a dispute involving an amount not in excess of $1,000,000, the regulations under subsection (c) shall provide for arbitration by a single arbitrator who--

   Inserted: "(A) is selected by the parties to the dispute; or

   Inserted: "(B) if the parties cannot agree, is selected by the Secretary from among the arbitrators listed on the roster of arbitrators under paragraph (1).

   Inserted: "(3)(A) For a dispute involving an amount in excess of $1,000,000, the regulations under subsection (c) shall provide for arbitration by a panel of three arbitrators selected as follows:

   Inserted: "(i) One arbitrator selected by the party electing the arbitration.

   Inserted: "(ii) One arbitrator selected by the rail carrier or all of the rail carriers who are parties to the dispute, as the case may be.

   Inserted: "(iii) One arbitrator selected by the two arbitrators selected under clauses (i) and (ii).

   Inserted: "(B) If a selection of an arbitrator is not made under clause (ii) or (iii) of subparagraph (A) within the time limits prescribed in the regulations, then the Secretary shall select the arbitrator from among the arbitrators listed on the roster of arbitrators under paragraph (1).

   Inserted: "(e) Disputes Over Rates or Charges.--(1) The requirements of this subsection apply to a dispute submitted under this section concerning a rate or charge imposed by a rail carrier.

   Inserted: "(2)(A) Subject to subparagraph (B), the decision of an arbitrator or panel of arbitrators in a dispute on an issue described in paragraph (1) shall be the final offer of one of the parties to the dispute.

   Inserted: "(B) A decision under subparagraph (A) may not provide for a rate for transportation by a rail carrier that would result in a revenue-variable cost percentage for such transportation that is less than 180 percent, as determined under standards applied in the administration of section 10707(d) of this title.

   Inserted: "(3) If the party electing arbitration of a dispute described in paragraph (1) seeks compensation for damages incurred by the party as a result of a specific rate or charge imposed by a rail carrier for the transportation of items for the party and the party alleges an amount of damages that does not exceed $500,000 for any year as a result of the imposition of the specific rate or charge, the arbitrator, in making a decision on the dispute, shall consider the rates or charges, respectively, that are imposed by rail carriers for the transportation of similar items under similar circumstances in rail transportation markets where there is effective competition, as determined under standards applied by the Board in the administration of section 10707 of this title.

   Inserted: "(f) Time for Issuance of Arbitration Decision.--Notwithstanding any other provision of this subtitle limiting the time for the taking of an action under this subtitle, the arbitrator or panel of arbitrators for a dispute submitted for resolution under this section shall issue a final decision on the dispute within the maximum period after the date on which the arbitrator or panel is selected to resolve the dispute under this section, as follows:

   Inserted: "(1) In the case of a dispute involving $1,000,000 or less, 120 days.

   Inserted: "(2) In the case of a dispute involving more than $1,000,000, 180 days.

   Inserted: "(g) Authorized Relief.--A decision of an arbitrator or panel of arbitrators under this section shall grant relief in either or both of the following forms:

   Inserted: "(1) Monetary damages, to the extent authorized to be provided by the Board in such a dispute under this subtitle.

   Inserted: "(2) An order that requires specific performance under any applicable law, including any law limiting rates to reasonable rates, for any period not in excess of two years beginning on the date of the decision.

   Inserted: "(h) Judicial Confirmation and Review.--The following provisions of title 9 shall apply to an arbitration decision issued in a dispute under this section:

   Inserted: "(1) Section 9 (relating to confirmation of an award in an arbitration decision), which shall be applied as if the parties had entered into an agreement under title 9 to submit the dispute to the arbitration and had provided in that agreement for a judgment of an unspecified court to be entered on the award made pursuant to the arbitration.

   Inserted: "(2) Section 10 (relating to judicial vacation of an award in an arbitration decision).".

   Inserted: (2) Clerical amendment.--The table of sections at the beginning of such chapter is amended by inserting after the item relating to section 11707 the following:

   Inserted: "11708. Arbitration of certain rail rate, service, and other disputes.".

   Inserted: (b) Time for Implementing Certain Requirements.--Not later than 180 days after the date of the enactment of this Act, the Secretary shall promulgate regulations, prescribe a roster of arbitrators, and complete any other action that is necessary for the implementation of section 11708 of title 49, United States Code (as added by subsection (a)).

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