§ 308 — Reductions in fares and charges

§ 308. Reductions in fares and charges. In the event that the\ncommissioner of transportation, after a hearing held in his discretion,\non his own motion and on reasonable notice, shall determine (1) that a\nrailroad redevelopment corporation, during the most recent twelve-month\nperiod for which figures shall be available at the time of such notice,\nhas obtained more operating revenues and other income than were required\nto provide for the items enumerated in section three hundred six, and\n(2) that its operating revenues and other income during the twelve\nmonths next succeeding such period will be more than required to provide\nfor the items enumerated in section three hundred six, the commissioner\nof transportation may order such corporation to eliminate on a\ntwelve-month basis any such anticipated excess amount of revenues. In\nthat event, such corporation shall file new tariff schedules within such\nreasonable time as may be fixed by the commissioner of transportation,\nto be effective within ten days after such filing; and said schedules\nshall make such modifications in its passenger fares and charges (and\nthe classifications, regulations, and practices pertaining thereto) as\nshall effect such elimination.\n