47 U.S.C. § 213 : US Code - Section 213: Valuation of property of carrier

Search 47 U.S.C. § 213 : US Code - Section 213: Valuation of property of carrier

(a) Hearing
The Commission may from time to time, as may be necessary for the
proper administration of this chapter, and after opportunity for
hearing, make a valuation of all or of any part of the property
owned or used by any carrier subject to this chapter, as of such
date as the Commission may fix.
(b) Inventory
The Commission may at any time require any such carrier to file
with the Commission an inventory of all or of any part of the
property owned or used by said carrier, which inventory shall show
the units of said property classified in such detail, and in such
manner, as the Commission shall direct, and shall show the
estimated cost of reproduction new of said units, and their
reproduction cost new less depreciation, as of such date as the
Commission may direct; and such carrier shall file such inventory
within such reasonable time as the Commission by order shall
require.
(c) Original cost
The Commission may at any time require any such carrier to file
with the Commission a statement showing the original cost at the
time of dedication to the public use of all or of any part of the
property owned or used by said carrier. For the showing of such
original cost said property shall be classified, and the original
cost shall be defined, in such manner as the Commission may
prescribe; and if any part of such cost cannot be determined from
accounting or other records, the portion of the property for which
such cost cannot be determined shall be reported to the Commission;
and, if the Commission shall so direct, the original cost thereof
shall be estimated in such manner as the Commission may prescribe.
If the carrier owning the property at the time such original cost
is reported shall have paid more or less than the original cost to
acquire the same, the amount of such cost of acquisition, and any
facts which the Commission may require in connection therewith,
shall be reported with such original cost. The report made by a
carrier under this subsection shall show the source or sources from
which the original cost reported was obtained, and such other
information as to the manner in which the report was prepared, as
the Commission shall require.
(d) Easement, license or franchise
Nothing shall be included in the original cost reported for the
property of any carrier under subsection (c) of this section on
account of any easement, license, or franchise granted by the
United States or by any State or political subdivision thereof,
beyond the reasonable necessary expense lawfully incurred in
obtaining such easement, license, or franchise from the public
authority aforesaid, which expense shall be reported separately
from all other costs in such detail as the Commission may require;
and nothing shall be included in any valuation of the property of
any carrier made by the Commission on account of any such easement,
license, or franchise, beyond such reasonable necessary expense
lawfully incurred as aforesaid.
(e) Improvements; changes in condition
The Commission shall keep itself informed of all new
construction, extensions, improvements, retirements, or other
changes in the condition, quantity, use, and classification of the
property of common carriers, and of the cost of all additions and
betterments thereto and of all changes in the investment therein,
and may keep itself informed of current changes in costs and values
of carrier properties.
(f) Additional information; access to records and data
For the purpose of enabling the Commission to make a valuation of
any of the property of any such carrier, or to find the original
cost of such property, or to find any other facts concerning the
same which are required for use by the Commission, it shall be the
duty of each such carrier to furnish to the Commission, within such
reasonable time as the Commission may order, any information with
respect thereto which the Commission may by order require,
including copies of maps, contracts, reports of engineers, and
other data, records, and papers, and to grant to all agents of the
Commission free access to its property and its accounts, records,
and memoranda whenever and wherever requested by any such duly
authorized agent, and to cooperate with and aid the Commission in
the work of making any such valuation or finding in such manner and
to such extent as the Commission may require and direct, and all
rules and regulations made by the Commission for the purpose of
administering this section shall have the full force and effect of
law. Unless otherwise ordered by the Commission, with the reasons
therefor, the records and data of the Commission shall be open to
the inspection and examination of the public. The Commission, in
making any such valuation, shall be free to adopt any method of
valuation which shall be lawful.
(g) State commissions
Nothing in this section shall impair or diminish the powers of
any State commission.