Effective January 8, 2021: Revision of Method for Calculating Monetary Threshold for Reporting Rail Equipment Accidents/Incidents
- On December 9, 2020
By: Michael Barron
The FRA is revising regulations governing the method for calculating the monetary threshold for reporting rail equipment accidents/incidents. In the final rule, the FRA amends the reporting regulation which requires railroads to report to the FRA all rail equipment accidents/incidents above the monetary reporting threshold for that calendar year. The amended regulation modifies the way in which it calculates periodic adjustments to the reporting threshold and the way it communicates each calendar year’s threshold to railroads. In particular, the FRA will, going forward, simply provide a notice of a change in the yearly threshold via the Federal Register instead of a rule amendment to the threshold. The Final Rule can be viewed here.
For further information, contact Michael Barron at mbarron@fletcher-sippel.com
