[Federal Register Volume 77, Number 166 (Monday, August 27, 2012)]
[Rules and Regulations]
[Pages 51705-51706]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-21021]
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DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety Administration
49 CFR Part 369
[Docket No. FMCSA-2012-0020]
RIN-2126-AB48
Rescission of Quarterly Financial Reporting Requirements
AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.
ACTION: Withdrawal of direct final rule.
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SUMMARY: FMCSA withdraws its June 27, 2012, direct final rule
eliminating the quarterly financial reporting requirements for certain
for-hire motor carriers of property (Form QFR) and for-hire motor
carriers of passengers (Form MP-1). After reviewing the adverse comment
received from SJ Consulting Group in response to the direct final rule,
the agency has determined that it would be inappropriate to allow the
direct final rule to take effect. The FMCSA intends to publish a notice
of proposed rulemaking in the near future proposing the elimination of
the quarterly financial reporting requirements for Form QFR and Form
MP-1.
DATES: The direct final rule published at 77 FR 38211, June 27, 2012 is
withdrawn, effective August 27, 2012.
FOR FURTHER INFORMATION CONTACT: Ms. Vivian Oliver, Office of Research
and Information Technology, Federal Motor Carrier Safety
Administration, 1200 New Jersey Ave. SE., Washington, DC 20590;
Telephone 202-366-2974; email Vivian.Oliver@dot.gov.
SUPPLEMENTARY INFORMATION:
I. Public Participation and Comments
A. Viewing Comments and Documents
To view comments, go to http://www.regulations.gov/#!docketDetail;D=FMCSA-2012-0020. If you do not have access to the
Internet, you may also view the docket online by visiting the Docket
Management Facility in Room W12-140 on the ground floor of the
Department of Transportation West Building, 1200 New Jersey Avenue SE.,
Washington, DC 20590, between 9 a.m. and 5 p.m. e.t., Monday through
Friday, except Federal holidays.
B. Privacy Act
Anyone can search the electronic form of comments received into any
of our dockets by the name of the individual submitting the comment (or
signing the comment, if submitted on behalf of an association,
business, labor union, etc.). You may review a Privacy Act notice
regarding our public dockets in the January 17, 2008 issue of the
Federal Register (73 FR 3316).
II. Background
On June 27, 2012, FMCSA published a direct final rule proposing to
eliminate the quarterly financial reporting requirements for certain
for-hire motor carriers of property (Form QFR) and for-hire motor
carriers of passengers (Form MP-1), if no adverse comments were
received by July 27, 2012. After
[[Page 51706]]
reviewing the one set of adverse comments received from SJ Consulting
Group, the agency has determined that it would be inappropriate to
allow the direct final rule to take effect.
SJ Consulting Group stated that it uses the quarterly financial
information to advise motor carriers, shippers, and persons interested
in buying motor carriers. It argued that the quarterly reports provide
useful insight into the U.S. trucking industry, such as operating
statistics that are not available from other public sources,
particularly for private carriers. Although SJ Consulting conceded that
says some data on general demand and pricing trends are available from
other sources, it argued that quarterly data on the profitability of
carriers are essential in providing safe and timely service to
shippers, estimating future growth rates, and assessing opportunities
for profitable investment in the trucking industry. SJ Consulting has
used Form QFR reports for these purposes for many years.
FMCSA Response: SJ Consulting submitted an adverse comment with an
explanation of why it disagrees with the direct final rule. For this
reason, FMCSA withdraws the direct final rule of June 27, 2012, based
on the adverse comments of SJ Consulting Group.
Issued on: August 15, 2012.
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2012-21021 Filed 8-24-12; 8:45 am]
BILLING CODE 4910-EX-P