N.Y. Railroad Law § 308: Reductions in fares and charges

§ 308. Reductions in fares and charges. In the event that the

commissioner of transportation, after a hearing held in his discretion,

on his own motion and on reasonable notice, shall determine (1) that a

railroad redevelopment corporation, during the most recent twelve-month

period for which figures shall be available at the time of such notice,

has obtained more operating revenues and other income than were required

to provide for the items enumerated in section three hundred six, and

(2) that its operating revenues and other income during the twelve

months next succeeding such period will be more than required to provide

for the items enumerated in section three hundred six, the commissioner

of transportation may order such corporation to eliminate on a

twelve-month basis any such anticipated excess amount of revenues. In

that event, such corporation shall file new tariff schedules within such

reasonable time as may be fixed by the commissioner of transportation,

to be effective within ten days after such filing; and said schedules

shall make such modifications in its passenger fares and charges (and

the classifications, regulations, and practices pertaining thereto) as

shall effect such elimination.