73d CONGRESS . SESS.I. CH.91. JUNE 16, 1933 .
221 to the asses sment, co llection, refund, or credit of incom e, war-pr ofits or excess-profits taxes or (2) the liabilities for such taxes of any car- riers or corporations if such liabilities were determined prior to the enactment of this Act in accordance with section 1106 (b) of the Revenue Act of 1926 or section 606 of the Revenue Act of 1928, or in accordance with a final judgment of a court, an order of the Board of Tax Appeals which had become final, or an offer in compromise duly accepted in accordance with law . SEC . 207 . Paragraph (a) of section 19a of the Interstate Com- merce Act, as amended (U .S .C ., title I9, sec . 19a (a)), is amended to read as follows : "(a) Th at the Commi ssion shall, as he reinaf ter pro vided, inves ti- gate, ascertain, and report the value of all the property owned or us ed by every common carri er sub ject t o the p rovisi ons of this Act, except any street, suburban, or interurban electric railway which is not operated as a part of a general steam railroad system of trans- Discretionary inclu . nortation ; but the Commission may in its discretion investigate sto p in sepa rate valu a- 1'
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y
7 tion report ascertain, and report the value of the property owned or used by any such electric railway subject to the provisions of this Act when- ever in its judgment such action is desirable in the public interest . Emplo y ment of To enable the Commission to make such investigation and report, p orts. it is authorized to employ such experts and other assistants as may be necessary . The Commission may appoint examiners who shall Ex amin ers . have power to administer oaths, examine witnesses, and take testi- mony . The Commission shall, subject to the exception hereinbefore classification and in- centory. provided for in the case of electric railways . make an inventory which shall list the property of every common carrier subject to the provisions of this Act in detail, and show the value thereof as here- inafter provided, and shall classify the physical property, as nearly as practicable, in conformity with the classification of expenditures for road and equipment, as prescribed by the Interstate Commerce Comm iss ion ." SEC . 208 . Paragraphs (f) and (g) of such section 19a, as amended (U .S.C., title 49, sec. 19a (f), (g) ), are amended to read as follows "(f) Upon completion of the original valuations herein provided mam uations ; of. cu rre nt for, the Commission shall thereafter keep itself informed of all new nce construction, extensions, improvements, retirements, or other changes in the condition quantity, use and classification of the property of New construction, etc , to be added . all com mon ca rriers as to which origi nal val uation s have been made, and of the c ost of all a dditio ns and better ments theret o and of all changes in the investment therein, and may keep itself informed of current changes in costs and values of railroad properties, in order that it may have available at all times the information deemed by it to be necessary to enable it to revise and correct its previous inven- Revision and inven- tories, classifications, and values of the properties ; and when deemed t o r i e s I necessary, may revise, correct, and supplement any of its inventories and va luatio ns . "(g) To enable the Commission to carry out the provisions of the makeye f carriers to preceding paragraph, every common carrier subject to the provi- sions of thi s Act shall make s uch re ports a nd fur nish s uch in forma- tion as the Commission may require ." SEC . 209 . If any provision of this Act, or the application thereof Sating provisions . to any person or circumstances, is held invalid, the other provisions of this Act or the application of such provision to any other person or circumstances shall not be affected thereby . Approved, June 16, 1933, 12 :05 p .m . Vol.44,p.113; Vol.45, p. a4. Physical valuation of property . Vol. 37, p. 701
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40, p. 271, amen ded . Post, p . 515. Street, etc., railways . not a part of railroad sys tem exclu ded . U.S.C., p. 1667.
