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Interstate Commerce Commission |
Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.01 sec. |
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Interstate Commerce Commission (ICC), former independent agency of the U.S. government, established in 1887; it was charged with regulating the economics and services of specified carriers engaged in transportation between states. Surface transportation under the ICC's jurisdiction included railroads, trucking companies, bus lines, freight forwarders, water carriers, oil pipelines, transportation brokers, and express agencies.
The ICC, the first regulatory commission in U.S. history, was established as a result of mounting public indignation in the 1880s against railroad malpractices and abuses (see Granger movement Granger movement, American agrarian movement taking its name from the National Grange of the Patrons of Husbandry, an organization founded in 1867 by Oliver H. Kelley and six associates. Its local units were called granges and its members grangers. The ICC's safety functions were transferred to the Dept. of Transportation when that department was created in 1966; the ICC retained its rate-making and regulatory functions. However, in consonance with the deregulatory movement, the ICC's powers over rates and routes in rails and trucking were curtailed in 1980 by the Staggers Rail Act and Motor Carriers Act. Most ICC control over interstate trucking was abandoned in 1994, and the agency was terminated at the end of 1995. Many of its remaining functions were transferred to the new National Surface Transportation Board. Interstate Commerce Commission (ICC)(1887–1995) First regulatory agency established in the U.S. and a prototype for independent government regulatory bodies. An agency of the U.S. Department of Transportation, it was responsible for the economic regulation of interstate surface transportation, including railroads, trucking companies, and buslines. It certified carriers, regulated rates, oversaw mergers, and approved railroad construction. The ICC was dissolved in 1995. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Recent legislative changes and the ICC Termination Act of 1995, which abolished the Interstate Commerce Commission, eliminated the exemption from the FAR for guaranteed traffic. The departments on Monday filed their final recommendations with the Surface Transportation Board, a Transportation Department division that succeeded the Interstate Commerce Commission and has authority to approve or reject the merger. If they plan to travel in other states as well, they must be approved by the federal Interstate Commerce Commission, he said. |
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