Willamette & Pacific Railroad, Inc. (WPRR), a Class III railroad, has filed a notice to extend and amend its lease with Union Pacific Railroad Company. The lease covers several Oregon rail line segments totaling about 161 miles. WPRR will continue as the operator and says its revenue from this transaction will not change its Class III status. The exemption's effective date depends on WPRR’s request to waive labor notice requirements; decisions will be made later.
Simple Explanation
Willamette & Pacific Railroad wants to keep using some train tracks they are renting from another company. They have to follow some rules to do this, and they're asking for permission to skip one of the steps that usually takes longer.