Surface Transportation Board Law and Legal Definition

The Surface Transportation Board (STB) is a successor of the interstate commerce commission. The STB was created by the Interstate Commerce Commission Termination Act of 1995. The STB functions as an economic regulatory agency of Congress. The major function is to resolve railroad rate and service disputes and reviewing proposed railroad mergers. The STB is affiliated to the department of transportation, but its decisions are independent.

The jurisdiction of the board extents to:

1. railroad rates;

2. service issues; and

3. rail restructuring transactions.

The STB acts both as a adjudicatory and a regulatory body.