FMCSA Proposes Eliminating Fleet Financial Reporting Requirement

The Federal Motor Carrier Safety Administration proposed a new rule Friday that would eliminate a quarterly financial data reporting requirement for some interstate motor carriers.

The financial data reporting program was originated in 1938 under the authority of the Interstate Commerce Commission, and with the ICC’s disbandment in 1996, was transferred to the Department of Transportation and later FMCSA.

Information collected does not support any of FMCSA’s regulatory functions, and eliminating the requirement will have no impact on motor carrier safety, FMCSA said in a Federal Register notice Friday.

Once the rule becomes final, it would become the second regulatory relief action taken by FMCSA this year, the DOT agency said.

Click here to view the Federal Register notice or click here for a printable version. (PDF; U.S. government website.)